Prices are rising all over the world at a pace that hasn’t been seen in decades, and central banks have responded by lifting rates, writes Bloomberg.
And according to a Federal Bank analysis, supply factors account for more than half of the current level of inflation, while demand explains only about a third.
“The latest readings suggest the US economy is entering a period of low growth and elevated inflation.”
In addition, supply chains are stressed, shipping costs are high, and warehouses are full:
Bloomberg concludes, “Supply chain stress is off its peak, but a return to pre-Covid norms may take time.”
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