INFLATION'S UNCERTAIN PATH
Energy and Food Shocks, Supply-Chain Bottlenecks, and Surging Wages
After four decades of low inflation, prices are rising swiftly in the U.S. and Europe, forcing interest rates up and threatening to undermine economic growth.
Inflation has surged because of wage pressures, soaring commodity prices and pandemic-induced supply-demand imbalances. War in Ukraine is amplifying these forces, notably through turbocharging the prices of energy, metals and food.
August 2022