Inflation is one of the key reason behind the marlet sell-down since Jan 2022. Crude oil which is the #1 factor behind inflation has stabilized around USD80+/barrel. The property market in US have also witnessed a significant drop in transaction volume due to rising interest rates. Furthermore, other factors such as corn, wheat prices have fallen back to pre- Russia-Ukraine war prices.
Hence, I would say that the Aug inflation is likely to decrease below 8.5% and inflation has already peaked in June! Hence, the Fed can hopefully slow down on the interest hikes!
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