Don't rule out further inflation surprises yet, and here are 3 ways for investors to predict them, Goldman Sachs says

• Inflation is beginning to moderate in developed markets, but potential data surprises remain a risk to investors.
• Goldman Sachs suggests three areas that investors can watch in order to help predict these inflation surprises.
• Commodity prices, currency movements, and regional inflation figures are key areas to look for future surprises.

Inflation is beginning to cool in the US and other developed markets as supply chain pressures slowly unwind and central banks' interest-rate increases begin to take effect. 

But, according to Goldman Sachs, surprises still abound and can shock markets if too much bullishness is priced in.