As the world economy grapples with the lingering pandemic and the need to support the recovery of so many important sectors, there is another area of concern emerging. After years where it largely lay dormant across most economies, inflation is making a comeback.
Inflation’s effects are beginning to be felt everywhere, but the underlying causes of this remain murky. Supply issues in the global trading system are concerning many, as pointed out in a MoneyWeek article by John Stepek, who writes of “massive traffic jams” snarling up “our system of sending ‘stuff’ around the world”.
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