MILAN, Italy (Project Syndicate) entCentral banks’ efforts to contain high and rising inflation are fueling headwinds to growth and are threatening to tip the global economy into recession. But the proximate cause of today’s inflationary pressures is a large, broad-based, and persistent imbalance between supply and demand. Higher interest rates will dampen demand, but supply-side…
As prices rise, everywhere, for pretty much everything, the prospect of the human suffering this will cause is deeply worrying. There are predictions that the number of people in the world experiencing acute hunger — currently 276 million — could soon rise by as many as 47 million. To address the problem, one thing that…
Read More “Opinion: Rising prices: why the global drive to keep food cheap is unsustainable” »
There’s no escaping the ravages of inflation. Far from “peaking” as some hoped, the consumer price index accelerated in May, rising at a 12.3% annual rate, the government reported Friday. Not only are the costs of necessities becoming more unaffordable, so are the costs of escaping by taking a vacation or by curling up on…
