US CPI inflation is expected to reach 4.8% by the 2024 election, according to Bank of America.

Over the last 3 months, CPI inflation has averaged 0.4% from month to month.

If this trend continues, year-on-year inflation will reach 4.8% in November, which would be the highest figure since April 2023.

This figure will be more than DOUBLE the Fed's inflation target of 2%.

Inflation has been above the Fed's long-term target of 2% for 37 consecutive months.

Inflation is far from over.