From the US and Brazil to Turkey and India, growing price pressures are leaving policymakers facing some difficult decisions. Unlike in many previous global inflationary episodes, what is remarkable this time is how different the cross-country experiences have been.
ITHACA – Until a few months ago, talk of inflation was little more than a murmur: dry data from the statistical office, reports tucked away in the newspaper, and an occasional commentary. Now the discussion is urgent and anxious, as news of rising price levels comes in from economies around the world, including Argentina, Brazil, Turkey, India, and, most important, the United States.
ITHACA – Until a few months ago, talk of inflation was little more than a murmur: dry data from the statistical office, reports tucked away in the newspaper, and an occasional commentary. Now the discussion is urgent and anxious, as news of rising price levels comes in from economies around the world, including Argentina, Brazil, Turkey, India, and, most important, the United States.