My impression was that a lot of the current inflation was simply driven by companies raising prices in order to increase profits. For the US at least, disruptions in Russian and Ukranian energy and food production have only a very small effect.
The reason American companies can jack up prices is largely due to prices being high in international markets. These prices have become high due to the disruptive effects of covid, rising protectionism and the ongoing wars.
My impression was that a lot of the current inflation was simply driven by companies raising prices in order to increase profits. For the US at least, disruptions in Russian and Ukranian energy and food production have only a very small effect.
The reason American companies can jack up prices is largely due to prices being high in international markets. These prices have become high due to the disruptive effects of covid, rising protectionism and the ongoing wars.