The Big Take
‘Inflation Fever’ Is Finally Breaking — But Central Banks Won’t Stop Hiking Rates
Slowdowns on key commodity markets signal some relief is in store after worst price shock in decades
Consumers are shifting away from the unusual shopping habits that emerged during pandemic lockdowns when people spent less on services and more on goods.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Global inflation is finally coming off the boil, even if it’s set to remain far too hot for the liking of the world’s central bankers.
As economic growth slows, prices for key raw materials — from oil to copper and wheat — have cooled in recent weeks, taking pressure off the cost of manufactured goods and food. And it’s getting cheaper to move those things around, as supply chains slowly recover from the pandemic.