Emeritus Prof Christopher May on Nostr: Most people (outside the BoE) recognise that much of our #inflation problem is being ...

Most people (outside the BoE) recognise that much of our #inflation problem is being imported (either due to #energy prices, or #imports), so the Q. is what is the mechanism (outside the energy sector) that's driving it?

One answer must be that upheavals in the world, due to conflict, #climatechange & the shifts in how the #Chinese economy is structured, have been adding (extra) costs into #supplychains.

If exposure to global economic networks is driving inflation, is localism the answer?