Lingering Effects from Past Economic Shocks Continue to Drive Inflation in 2024 Three years after the initial economic disruptions of 2021 and 2022, the lingering effects of those events are still significantly influencing inflation rates in 2024. The primary driver of the current inflation, particularly in the shelter sector where rents and homeowners’ equivalent rent have increased by 6.1% annually, stems from these past disruptions. According to Goldman Sachs economist Ronnie Walker, this persistent high inflation is more about “lagged catch-up” rather than a new wave of increases, suggesting that once these residual effects dissipate, inflation is expected to stabilize without further severe economic consequences. This pattern is also evident in other sectors, such as motor vehicle insurance, which has seen a 22.2% rise over the last year. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts "Buy Gold and BURY IT" – Chris Martenson w/ Mike Maloney READ MORE Americans Prioritize Summer Fun Over Financial Health, Risking Long-Term Debt READ MORE Recession Mentions in Earnings Calls Fall as Economic Outlook Improves READ MORE Credit Card Debt: America's $1.13 Trillion Problem READ MORE Core Inflation Meets Expectations, Posing Questions for Fed's Next Move READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment