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The specter of inflation might not be as scary as many anticipated.
Gauges of nationwide price growth show inflation hitting its fastest rate since 2008 as the economy reopens and businesses struggle with supply shortages. Yet underlying dynamics aren’t so clear-cut, economists at Goldman Sachs said in a Wednesday note.
For one, much of the overshoot seen in recent months is linked to production bottlenecks. Used car prices, for example, have surged more than any other category as the global semiconductor shortage curbs vehicle manufacturing.
The unusual nature of the pandemic economy also makes measuring inflation more difficult. details ⇒
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