July 17, 2024

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Structural shift in inflation led by 3 Ds

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Decarbonization, deglobalization and demographics will help keep inflation higher than historical standards

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By Tim Pickering

There was in the summer what we called a “misguided level of comfort that governments and central banks were communicating” given year-over-year inflation had recently fallen: the consumer price index in the United States had dropped to 3.2 per cent (increase) after peaking in June 2022 at 9.1 per cent. What’s happened since? We are still at 3.2 per cent.

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2023-12-31 09:00:15

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