A woman shops in a supermarket in Beijing. In China, factory gate inflation has accelerated to 9 per cent but consumer price inflation stands at 1.3 per cent for May. Photo: EPA-EFE A woman shops in a supermarket in Beijing. In China, factory gate inflation has accelerated to 9 per cent but consumer price inflation stands at 1.3 per cent for May. Photo: EPA-EFE
A woman shops in a supermarket in Beijing. In China, factory gate inflation has accelerated to 9 per cent but consumer price inflation stands at 1.3 per cent for May. Photo: EPA-EFE
David Brown
Opinion

Opinion

Macroscope by David Brown

Inflation: why the world should keep calm and carry on

  • The price distortions caused by the pandemic’s shutdowns, lockdowns and furloughs will eventually flatten out
  • The world is simply moving from a state of near deflation towards higher inflation, as price setters make up for lost time

A woman shops in a supermarket in Beijing. In China, factory gate inflation has accelerated to 9 per cent but consumer price inflation stands at 1.3 per cent for May. Photo: EPA-EFE A woman shops in a supermarket in Beijing. In China, factory gate inflation has accelerated to 9 per cent but consumer price inflation stands at 1.3 per cent for May. Photo: EPA-EFE
A woman shops in a supermarket in Beijing. In China, factory gate inflation has accelerated to 9 per cent but consumer price inflation stands at 1.3 per cent for May. Photo: EPA-EFE
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David Brown

David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.