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 Are the Gold Bulls Overexuberant? READ MORE Commerzbank Predicts Silver to Reach $30 by End of 2024 Amid Rising Industrial Demand READ MORE G-20 Says World Economy Has Growing Chance of Soft Landing READ MORE Sprott CEO Sees Potential for 66% Price Jump READ MORE CEOs Identify National Debt as Foremost Threat Amid Global Uncertainties READ MORE Add a Comment Cancel replyYour email address will not be published.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