Unsurprisingly, the jury is out as to whether inflation is transitory or more permanent. The medium-term picture is nuanced so determining whether 2021 marks a turning point is more complicated than simply pointing to an increase in fiscal stimulus. At this juncture it is too early to draw firm conclusions; however, there is a strong and growing probability that the conditions which would facilitate an evolution towards a more inflationary regime globally are in place.
Suzanne Hutchins, Newton Global Real Return team.
Doc ID: 657906
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