It’s interesting that real estate prices and rents are starting to soften in a lot of areas already. It will take a while to filter into CPI data, though, because of the reporting lags. Probably starts to help the CPI data before the election, though.
Right. There are so many moving parts to inflation though. Energy has come way down, but that never lasts. OPEC will jerk the chain again and the USA is already producing all it can (since it’s election season). If Biden is reelected, he will make sure energy prices rise. Energy prices affect almost everything due to shipping costs. Insurance companies are just starting to catch up with the cost of reconstruction and if material prices rise so will insurance costs, can’t help that.
Jimmy Carter revisted.