A vendor counts out Nigerian naira banknotes in Lagos, on March 29. Nigerians are contending with their highest inflation rate in four years as fears of spikes in consumer prices spread globally. Photo: Bloomberg A vendor counts out Nigerian naira banknotes in Lagos, on March 29. Nigerians are contending with their highest inflation rate in four years as fears of spikes in consumer prices spread globally. Photo: Bloomberg
A vendor counts out Nigerian naira banknotes in Lagos, on March 29. Nigerians are contending with their highest inflation rate in four years as fears of spikes in consumer prices spread globally. Photo: Bloomberg
Nicholas Spiro
Opinion

Opinion

Macroscope by Nicholas Spiro

Coronavirus recovery: why stimulus-driven inflation is not the biggest threat to markets

  • Worries about an inflation shock are way overdone, particularly given the scale and severity of the damage wrought by the pandemic
  • Markets should be more concerned about the ability of governments to control the pandemic and respond forcefully enough to minimise long-term scarring

A vendor counts out Nigerian naira banknotes in Lagos, on March 29. Nigerians are contending with their highest inflation rate in four years as fears of spikes in consumer prices spread globally. Photo: Bloomberg A vendor counts out Nigerian naira banknotes in Lagos, on March 29. Nigerians are contending with their highest inflation rate in four years as fears of spikes in consumer prices spread globally. Photo: Bloomberg
A vendor counts out Nigerian naira banknotes in Lagos, on March 29. Nigerians are contending with their highest inflation rate in four years as fears of spikes in consumer prices spread globally. Photo: Bloomberg
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Nicholas Spiro

Nicholas Spiro

Nicholas Spiro is a partner at Lauressa Advisory, a specialist London-based real estate and macroeconomic advisory firm. He is an expert on advanced and emerging economies and a regular commentator on financial and macro-political developments.