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This isn’t the news most consumers want to hear: Inflation could rise through 2026. This is a warning from a financial CEO.
While JPMorgan Chase CEO Jamie Dimon has acknowledged the possibility of inflation in 2026, not all experts agree. What Dimon and some other money experts are saying about inflation in 2026.
Demon points towards ‘skunk’
one in shareholder letterDimon pointed to factors such as the Iran war, ongoing oil and commodity price shocks and the reshaping of global supply chains. He wrote that these “could further increase inflation.”
Furthermore, he wrote, “Barring a party collapse – and this could happen in 2026 – inflation will be going up gradually, not going down gradually.”
Other experts have mixed predictions
Melanie Musson, a finance expert Quote.comtold GOBankingRates that inflation is likely to rise in the short term in 2026, but, by the end of the year, it should return to its current level.
“As the war continues, you can expect inflation to increase,” he said. “It could be higher than 4%. But it won’t take long for inflation to get back into the 3% range after the war ends. Ideally, inflation would be below 3%, but we probably won’t get there until 2026.”
According to Andrew Lokenath, founder of expert in financeRelief from inflation is not coming quickly. He pointed to several factors pushing prices up at the same time — delayed tariff effects, a federal deficit that could exceed 7% of GDP this year, a tight labor market fueled by changes in immigration policy and inflation expectations that are moving upward.
“In my 20 years in finance, I have seen how these pressures add up,” he said. “Businesses raise prices to protect margins, workers push for higher wages and the cycle plays on itself. The combination of a tight labor market, strong consumer spending, tariff pass-through and lagging housing inflation is a recipe for sticky inflation that could remain near 3% or higher for most of the year.”
Annie Cole, Ed.D., Money Coach and Founder Money Essentials for Womenechoed similar concerns and said inflation was likely to remain around 3% for most of 2026. “Tariffs are still working their way through the system, wages and service prices are climbing and oil prices are rising, putting upward pressure on overall inflation,” Cole said.
Editor’s note on political coverage: GOBankingRates is non-partisan and strives to objectively cover all aspects of the economy and offer balanced reporting on politically focused finance stories. You can find more coverage on this topic here GOBankingRates.com.