(TheConservativeNews.org) – Anyone who’s been to the grocery store or a restaurant recently has likely noticed that prices are higher than they were a year ago. Currently, America is seeing inflation rates it hasn’t seen in three decades. Some experts believe it’s only going to get worse as winter approaches.
Consumers looking to buy holiday gifts for their friends and families are likely to see record prices this winter. Economic experts from Goldman Sachs believe inflation will worsen before it gets better, although they believe the economy will improve over the next few quarters.
The banking giant is expecting a growth rate of 4% or more as the service sector keeps reopening. It’s important to note that Goldman Sachs’ estimate is one-third lower than the current reported rate. The investment bank noted that despite inflation getting worse over the winter, it predicts inflation will normalize in the next year.
In light of the bad news, Goldman also believes the economy will continue to recover and reach an unemployment rate 50-year low of 3.5% by the end of 2022. Holiday shopping will be expensive this year, but hopefully next year everything will normalize, and Americans will see pre-pandemic prices again.
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