Diane Swank's Predictions for Inflation for 2022

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Last February, the full-scale war in Ukraine was just getting started. Interest rates were very, very, very low. The consumer price index for 2022 would be rising at a pretty normal 2.3%. Does that sound like that's what you predicted? Is that right? Oh, I'm sure I'm predicted, but it is wrong.

It's time for another installment of ... Planet Money Predictions! *air horn*

Last year, we invited two economic forecasters to tell us what they saw coming for jobs, the housing market, and inflation. And now they're back. Which means it's time to find out whose predictions were more on the money, and send the victor to the next round, where they face off against a new forecasting phenom.

Since our last game, housing and inflation have cooled, but the job market keeps going strong. And the possibility of a recession still looms large. Our forecasters tell us what they see in the economy now, and what they expect in the months ahead.

This episode was produced by James Sneed. It was engineered by Katherine Silva. It was fact-checked by Sierra Juarez and edited by Molly Messick. Jess Jiang is our acting executive producer.

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