Inflation is already creeping into some corners of the world economy

Hawks say that pockets of inflation today will turn into across-the-board price increases tomorrow, with stimulus providing the fuel

The big question in financial markets is whether the post-pandemic recovery will bring a burst of inflation. In some corners of the world economy, it’s already arrived.

In commodities like soybeans or copper, industries like shipping and countries like Brazil, prices have been climbing rapidly –- for reasons directly tied to the disruptions of Covid-19, the policy response, or the surge in demand that comes with hopes of recovery.
 

None of this is enough to settle the great inflation debate one way or the other.

Hawks say that pockets of inflation today will turn into