Omicron disrupting January economy with cancellations and delays
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Summary
Prices surged 7% year-over-year in December, according to a Wednesday report, reflecting the strongest inflation since 1982.However, there's reason to believe price growth will start to slow in January. Bottlenecks are "easing in all the right places" as global suppliers ramp up production, JPMorgan economists Joshua Lupton and Bruce Kasman said in a Tuesday note.As supply rebounds to better match demand, it's likely inflation will ease faster.As Omicron peaks, service may be slower at understaffed stores this month. Cities like Portland, Oregon, Atlanta, Georgia, and Washington, D.C., are decreasing their mass transit services as their employees get sick with COVID. Although the United States Postal Service (USPS) largely got people their deliveries on time for the holiday season, the Omicron variant has been spreading amongst its employees.
As said here by Jason Lalljee, Ben Winck