Goldman Sachs: Inflation will fall “significantly” next year

The U.S. Consumer Price Index data for the month of October, which were published on Thursday and were lower than expected, led to a sharp retreat in the dollar exchange rate, with expectations growing in the background that the Fed will decide to ease the aggressive monetary tightening that it has been sticking to earlier than expected. Against the background of the encouraging data, an economic Goldman Sachs released their estimate that the core CPI will fall below 3% by the end of next year, which may allow the Fed to settle for a more modest rate hike next month as it aims to push inflation back to its 2% target.