Does your explanation for inflation have zero impact from general social sentiment? i.e. - Purely due to the levers of monetary and labour policies?
If so, what is the explanation for inflation occurring in countries all over the globe, even those without monetary injections or business closures?
If not, and there is some level of impact from individuals thinking "it feels like there's about to be inflation, so I'm going to act like there's inflation now", wouldn't there be a net benefit to that kind of messaging?
If so, what is the explanation for inflation occurring in countries all over the globe, even those without monetary injections or business closures?
If not, and there is some level of impact from individuals thinking "it feels like there's about to be inflation, so I'm going to act like there's inflation now", wouldn't there be a net benefit to that kind of messaging?