Inflation 2021 concerns continue to be a hot topic not just for traders but everyone that has to deal with rising prices.
Those concerns are gaining lately after the Consumer Price Index increased 6.4% in October compared to the same time last year. For the record, that’s the largest spike the CPI has seen since 1990.
It makes complete sense that people are worried about rising prices thanks to 2021 inflation, but are those concerns founded. Let’s take a look at what some experts have to say about the issue below!
Inflation 2021 Fears
Seema Shah, chief strategist at Principal Global Investors, said the following in a statement obtained by The New York Times.
“I expect lots of eyeballs were bulging out of their sockets when they saw the number come in. Inflation is clearly getting worse before it gets better.”
Joseph LaVorgna, chief economist for the Americas at Natixis, as well as the former chief economist of the National Economic Council for the Trump administration, said the following to CNBC.
“For now, inflation is going to continue to run above very solid wage growth. This is why when you look at consumer confidence, it’s really taking a beating. Households do not like the inflation story, and rightly so.”
Alan Ruskin, a Deutsche Bank strategist told Reuters this.
“From an FX standpoint we are in a stand-off. On the dollar we have the classic dilemma – if Fed won’t respond to high inflation it is dollar negative; if the Fed brings forward tightening it is USD positive. Right now the dollar is broadly stuck between these two worlds.”
Greg McBride, chief financial analyst at Bankrate, said the following to U.S. News & World Report.
“Inflation concerns are weighing on consumer confidence and with an annual rate of north of 6%, this will only continue. Further, the bottlenecks throughout the supply chain will be with us well into 2022, and with that, upward pressure on prices.”
With inflation 2021 fears continuing to weigh on the minds of investors, they’ll want to stay up to date on the latest stock market news.
Fortunately, InvestorPlace has them covered with our daily deep dives into the market. A few examples to look into today include wha thas Babylon Holdings (NYSE:BBLN) rising, why SoFi Technologies (NASDAQ:SOFI) stock is on the move, as well as details on the Backblaze IPO. You can get all those details from the links below!
More Thursday Stock Market News
- BBLN Stock: 5 Things to Know About Babylon Holdings Following the SPAC Merger
- Hot Meme Stocks: 14 Reasons Why Fintech Play SOFI Is Surging Today
- Backblaze IPO: 16 Things for Investors to Know as BLZE Stock Debuts Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.