Greg Mankiw's Blog: An Inflation Puzzle

A typical story in regards to the current inflation surge in the USA – notably amongst members of the Transitory crew – is that the surge is essentially resulting from international provide shocks, resembling rising costs vitality, chip shortages and numerous bottlenecks on account of the worldwide pandemic. So why aren’t we seeing an identical surge in inflation in Japan? Inflation there may be operating at about the identical fee as earlier than the pandemic. See under. (Click on on the picture to enlarge it.) I am puzzled.

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By moh

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