, Columnist
The Great Inflation Scare Reaches Its Final Phase
The US appears to be in the last lap, but how long will it take to run? Certainly not as long as the UK.
Is the spike in rental inflation about to be over?
Photographer: Bloomberg
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The great post-Covid inflation scare appears now to be decisively entering its final stage. The big question now is how long that stage will last. It’s good news for most of us, although arguably not quite as positive as it might at first appear. To summarize the US consumer price index data for May in graphical form, this is the composition of the inflation shock over time, with the contributions from food and energy, and services and goods excluding food and energy: