What will inflation look like in 2024?

The Survey of Professional Forecasters shows the median prediction for 2024 inflation is 2.5% (CPI) and 2.4% (PCE). The Wall Street Journal survey shows similar results. My own forecast is a bit less optimistic, looking for about three percent inflation in 2024, measured from year-end to year-end.

What are Cornwall Insight's forecasts for 2024?

Prior to the introduction of the October – December 2023 Default Tariff Cap (price cap), Cornwall Insight has announced its forecasts for 2024. Our new figures predict the price cap for a typical, dual-fuel, direct debit, household will rise by around 3.5% in January.

Will interest rates be high in 2024?

The Federal Open Market Committee projects the U.S. unemployment rate will average a healthy 4.1% in 2024, still well below its long-term average of around 5.7%. Unfortunately, some economists are skeptical that the U.S. can maintain economic growth with interest rates so high.

Will US GDP grow in 2024?

The Fed projects U.S. GDP growth of 1.5% next year. Inflation is trending steadily lower but will likely remain above 2% in 2024. The Federal Reserve has made significant progress in bringing down inflation while maintaining growth in the U.S. economy in 2023.