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 Gold Retreats to Weekly Low amid Strong Job Data and Powell's Comments READ MORE Gold Prices to Stay Strong Through 2024, Some Say $3,000 is a Stretch READ MORE Global Platinum Market Faces Increased Deficit in 2024, Says WPIC READ MORE BullionStar Financials FY 2023 – Year in Review READ MORE Powell Hints at September Rate Reduction if Inflation Eases READ MORE Add a Comment Cancel replyYour email address will not be published.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