If the impending drop in energy prices *does* bring inflation down to near the BoE's target, the continuing rumble from the sado-monetarists that inflation is driven by workers wage demands will be further compromised.
We can expect some tortured arguments about how really energy prices only impact inflation by easing of pressure on workers' demands for higher wages, while (as always) ignoring that workers wages in real terms are still languishing after a decade or more.
#inflation
h/t FT
Emeritus Prof Christopher May /
npub1hr…f2ktj
2024-05-20 05:33:15
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npub1hr0x0gm9ksmvuvqwkyzfjuczv9pln83axuftxfhnq2maday69ypqtf2ktjPublished at
2024-05-20 05:33:15Event JSON
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