Inflation Scares in an Uncharted Recovery

Francesca Caselli is an economist in the World Economic Studies Division of the International Monetary Fund (IMF) Research Department. Prachi Mishra is an Advisor in the Research Department at the IMF.
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The economic recovery has fueled a rapid acceleration in inflation this year for advanced and emerging market economies, driven by firming demand, supply shortages, and rapidly rising commodity prices….
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