Elgin Area Chamber Of Commerce: Inflation To Improve, But Not As Much As The Fed Might Want

Elgin IL

21 December, 2021

2:30 AM

Description

Press release from the Elgin Area Chamber of Commerce: December 20, 2021 Inflation is expected to be elevated throughout next year. (CoStar) By Marissa Luck CoStar News   Walk into any restaurant, store or gas station and you will probably find higher prices posted on menus, stickers and reader boards. Most consumers didn't need the official announcement in early December about a 6.8% inflation rate to know that everything from an avocado to a semiconductor is pricier this year — and probably costs more than they can remember going back years. The question on the minds of most consumers, business owners and economists is how high inflation will go before the country starts to see some reprieve. The good news is CoStar analysts predict inflation hikes will start to taper off in the second half of 2022 as some supply-chain and labor shortage concerns improve. The bad news: Analysts don't expect inflation will be lower than 1.5% to 2.5% for quite some time. So buckle up and get ready for more expensive guacamole and laptops. To watch a presentation of all of CoStar's predictions for the coming year, click here. Source: www.CoStar.com This press release was produced by the Elgin Area Chamber of Commerce. The views expressed here are the author's own.