Economic Affairs

The great debate over inflation

Current trends support the inflation hawks who see prolonged price pressure as a clear and present danger.

The onset of prolonged inflation could short-circuit economic recoveries around the world. PHOTO: AFP
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Will inflation rip? Or will it pass?

That is the question economists and policymakers are debating these days. The stakes are high. The onset of prolonged inflation could short-circuit economic recoveries around the world - in some countries even before they have started. It will also hit stock and bond markets and hurt millions of people, including savers, pensioners, anybody on fixed incomes and especially the poor.

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