Tesla and SpaceX CEO Elon Musk shared hints that inflation is already at its highest levels. Known for his support of Dogecoin (DOGE), Musk predicts that Tesla’s commodity and component costs will decrease over the next 6 months.
DOGE supporter says inflation sees peak
Speaking at Tesla’s annual shareholders meeting, Elon Musk predicts an impending US recession will only be “mild to moderate.” Tesla announced in its quarterly report that it has sold almost all of its $ 1.5 billion BTC. Now the company is seeing the emergence of exactly the kind of economic environment in which risky markets like cryptocurrencies thrive. During the Q&A at the annual meeting, Musk explained that the 6-month commodity prices for Tesla parts have already become cheaper rather than more expensive.
Musk also says that commodities are on a downtrend and inflation is already at its highest levels. Tesla CEO looks at this picture and adds that inflation has peaked:
We have some kind of insight into where prices are going over time, and the interesting thing we’re seeing right now is that most of our commodities, most of Tesla’s costs – if not all, more than half – are in decline. Prices have been in a downtrend for six months. That could change of course, but the trend is down, which suggests we’re past peak inflation.
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