Inflation & Prices

Goldman Sachs Says Hopes That Inflation Has Peaked Are Premature

China demand could propel energy higher in 2023, he says
Bond market’s break-even rates suggest inflation has peaked

Peter Oppenheimer, chief global equity strategist at Goldman Sachs, discusses value investing in the current market on “Bloomberg Markets: European Close.” Bloomberg TV

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By Emily Graffeo

December 8, 2022 at 7:48 PM UTC

Updated on

December 8, 2022 at 8:05 PM UTC

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The market’s optimism that inflation has peaked is misguided as a potential spike in energy costs in 2023 could keep prices elevated and interest rates high, according to Goldman Sach’s Peter Oppenheimer.

The firm’s chief global equity strategist said that an uptick in demand from China and persistent supply and demand pressures could send energy and other commodity prices surging in 2023, denting hopes that the recent decline in oil means that inflation is finally subsiding.