The High Stakes of Rising Inflation
Although some of the obvious factors behind recent price surges will almost certainly subside in due time, others will linger, adding to the already-high inflationary pressures that have been building across the global economy. Worst of all, major central banks continue to put themselves out on a limb.
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FRANKFURT – Many countries are reporting their highest rates of inflation in decades: 6.2% in the United States, 4.2% in the United Kingdom, 5.2% in Germany, and above 4% in the eurozone. Some insist that it is a temporary phenomenon; others fear that we must brace ourselves for an extended period of significant price increases driven by expansionary monetary policies and rising public debts.