Food Prices Are Up. What Else Is New?
Still, it’s a stretch to think Biden can do much about them when no president before him could, either. Plus: Blackstone and REITS; China demand
Deflation for food prices hasn’t existed since the Great Depression.
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If there’s any one single reason why interest rates aren’t already falling across the developed world, it’s because inflation isn’t obediently falling as expected. It’s not surging either, but seems to have stalled at a disappointingly high level. Nobody much seems to see that changing much when the numbers for March are released Wednesday. Core inflation is expected to be virtually unchanged, while higher oil prices are projected to increase headline inflation: