It is reported that JPMorgan Chase & Co believes that market inflation is falling, and the peak of inflation is now over. The financial institution said in an investor report that headline inflation was expected to reach 6.8 per cent by December, while core inflation would remain at 5.1 per cent.

It is reported that Wall Street has been struggling with high inflation throughout 2022. Jerome Powell, chairman of the Federal Reserve, will continue to actively tighten policy in order to control price increases.

"while the inflation data are likely to exceed expectations until the end of next year, we see signs that the growth rate of the inflation data has begun to slow and that the trend of slowdown will become more obvious over time," JPMorgan Chase & Co said. "

"overall, we think headline CPI inflation will fall from 8.2 per cent in September to 6.8 per cent in December, and then to 3.2 per cent in September next year. For core CPI, we expect a further decline from 6.6 per cent in September to 5.7 per cent in December and 3.4 per cent in September next year. "

In addition, WellsFargo said the market will not bottom out until the Fed adjusts.