Jan 15 2020
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Core Inflation and Average Trailing S&P 500 P/E Ratio
In periods of low inflation, the P/E ratio is higher. Conversely, high inflation tends to depress the P/E ratio.
Image: Goldman Sachs Global Investment Research
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In periods of low inflation, the P/E ratio is higher. Conversely, high inflation tends to depress the P/E ratio.
Image: Goldman Sachs Global Investment Research