Fleeting or structural: What’s behind the surge in US inflation? – Sydney Morning Herald

Demand, helped by the re-opening of the economy and enormous levels of monetary and fiscal support, is powering back even as the supply-side has been hit by soaring commodity prices, supply chain bottle necks and the trade and security frictions with China.
With a lot of money on the sidelines as has been the case here, US consumers have saved more and paid down their credit card debts during the pandemic there is more latent demand even as companies are being pressured by the increased costs of…

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