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Goldman Sachs Sees Supply-Driven Inflation Retreating in 2022

Semi-trailers In Shanghai As China Looks at How it Could Expedite U.S. Farm Goods Imports
Photographer: Qilai Shen/Bloomberg

Goldman Sachs sees the world’s supply disruptions and the inflation they’re causing as temporary, with things heading back toward normal in 2022.

In a research note this week focused largely on the U.S. economy, the bank’s economists looks at the causes of the supply issues and their effect on prices of consumer goods. It concludes that we’re in the midst of a one-time inflationary blip that will eventually become a one-off “disinflationary drag” — not the signals seen in an overheating economy that’s hitting maximum speed.