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INFLATION MONSTER

25th March 2022

By: Darlene Creamer

     

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After a relatively long hibernation, the inflation monster is awake and ready to eat the income and wealth of all citizens, poor and rich alike. Initially awakened by uneven supply-chain recovery efforts following the Covid lockdowns, Russia’s invasion of Ukraine has poked the monster further. Oil and maize prices have spiked, and other commodities are extending their already strong runs. It will be impossible for imported inflation not to spill over into domestic inflation.

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