Analysis – What to infer from inflation outliers

John Llewellyn, Saul Eslake

Llewellyn Consulting
August 6, 2021

Price shocks, or ‘outliers,’ raise general inflation if they ‘infect’ core prices and wages
This happened in the 1970s and early 1980s, on the occasions of the two big oil shocks
However, it has not happened (in ‘advanced’ economies) since the mid-1990s
Current conditions do not...

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