Bread is seen for sale at a farmers’ market in Chicago, on July 16. Amid the highest US inflation in four decades, bread prices have soared, pushing premium options to an unheard-of US$10 a loaf and beyond. Photo: Bloomberg
Opinion
Opinion
Macroscope
Central banks forced to continue raising interest rates despite slowdown after months of dithering
- Having spent months convinced price pressures were transitory, policymakers have much to answer for as they scramble to combat inflation
- While there is a chance tighter policy can bring down prices sufficiently without causing a recession, it is an increasingly slim one
Bread is seen for sale at a farmers’ market in Chicago, on July 16. Amid the highest US inflation in four decades, bread prices have soared, pushing premium options to an unheard-of US$10 a loaf and beyond. Photo: Bloomberg
