The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy
June’s awful US inflation numbers are a reminder of tough days ahead for many in America and around the world, and especially the most vulnerable segments of the population and the most fragile developing countries.
This is not because inflation will record yet another four-decade high over the next three months. It won’t. Rather, it is because of the damage already unleashed and that which is to come.
At 9.1 per cent for June, the headline number for US CPI inflation came in well above the median forecast of 8.8 per cent, registering its highest level since 1981. The core measure was also higher than expected and the compositional details added to concerns.
您已阅读21%（758字），剩余79%（2845字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。