Cadent Newsletter: November 10, 2022: Inflation’s Groundhog Day
October 12, 2022
Inflation has bombarded headlines and our pocketbooks for nearly a year. On November 10th, October Consumer Price Index data will be released and we think that this will be a “Groundhog Day” for inflation. October 2021 is when we began to see material jumps in year-over-year inflation. Thus, it is expected that inflation will begin decreasing simply based on last October as a reference point dropping out. We anticipate that this decrease will continue over the next 6 to 8 months as other high monthly figures fall out of the calculation.
Similar to our nation’s groundhog determining whether or not more cold, winter days lie ahead, we argue that we’ll find out whether or not the magnitude of inflation we’ve experienced this past year will persist.