Economists expect inflation to “accelerate strongly” in the coming weeks and months, but said consumer prices would eventually moderate.
The consumer price index (CPI), a common measure for inflation, is expected to rise 2.8% in 2021 and 2.3% in 2022 compared to the 1.2% increase that occurred in 2020, according to economists surveyed by the National Association for Business Economics (NABE).
The projection, released Monday, reflected the Federal Reserve consensus that inflation will heat up by the end of the year before cooling down as the economic recovery continues.
Read More