Inflation Forecasts Were Wrong Last Year. Should We Believe Them Now?

Posted on AllSides December 12th, 2022
From The Left
Mathias Wasik for The New York Times
ANALYSIS

At this time last year, economists were predicting that inflation would swiftly fade in 2022 as supply chain issues cleared, consumers shifted from goods to services spending and pandemic relief waned. They are now forecasting the same thing for 2023, citing many of the same reasons.

But as consumers know, predictions of a big inflation moderation this year were wrong. While price increases have started to slow slightly, they are still hovering near four-decade highs. Economists expect fresh data scheduled for release on Tuesday to show that the Consumer Price...

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https://www.nytimes.com/2022/12/12/business/economy/inflation-forecasts-historical-outlook.html

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