Inflation is painfully high, but some relief may be coming

By STAN CHOE and CATHY BUSSEWITZ
AP Business Writers

NEW YORK (AP) — Inflation is painfully high, but this hopefully is close to as bad as it gets. Many economists expect inflation to remain near its 40-year high level a few more months but to then moderate through 2022 for a variety of reasons. Supply-chain problems should ease, among other things. Households could even see relief in some areas within weeks. Prices have dropped on global markets for crude oil and natural gas, which is filtering into lower pump and home-heating prices for regular people. But many variables remain, such as the course of the pandemic, which can alter where inflation heads from here.