Goldman Sachs forecast that will increase the price of everything

Following the pandemic that began in 2020, price stability in many countries around the world was significantly disrupted, and central banks in developed countries initiated monetary tightening processes and implemented high interest rate hikes to combat high inflation.

A frightening warning has been issued by the US-based Goldman Sachs regarding inflation, which had been brought down after long efforts. In a report prepared with the participation of expert analysts, it was stated that due to increasing geopolitical risks worldwide and the additional cuts by OPEC+ in the first quarter of 2024, there could be sustained movements in oil prices above 100 dollars.

Warning that 'high prices' could be seen for a long time for oil, which is currently trading at 93 dollars, Goldman Sachs pointed out that a high-price policy in oil could hit markets in developing countries, including Turkey, very hard.

Stating that the 80-100 dollar band range could be followed for 2024, the bank reminded that every 10-dollar rise in oil prices could lead to a 0.4 percentage point increase in inflation in the US economy.

While it was conveyed that food prices, which have been declining on a global scale for some time, could rise again, it was reminded that sharp price increases are imminent in many sectors directly linked to farming, agriculture, and petroleum products, and a warning was issued that many products and services in circulation in the economy could see higher-than-expected price hikes.

News Source: 12punto