Forget inflation, Jefferies says to watch out for a ‘disinflation era’ like the early 1980s

Inflation was the most pressing concern of Americans in 2022 as prices for everything from gas to wheat soared to record highs. Year-over-year inflation, as measured by the consumer price index, hit a 40–year high of 9.1% in June, but then retreated rapidly—and Jefferies argues that the trend will continue over the next year.

“U.S. inflation has peaked,” Desh Peramunetilleke, the investment bank’s global head of microstrategy, wrote in a Thursday note. “Disinflation is a key…

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