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By Derek RUSSELL, Country Manager Luxembourg, iBanFirst
The prospect of a deal between Iran and the United States, which is still far from removing all uncertainty, does nothing to alter the core issue. Inflation is here to stay and is likely to persist for at least several more quarters. It is obviously linked to the surge in energy prices, but not exclusively. In the wake of the war, several countries introduced export restrictions on key commodities. The latest example is Indonesia, which has curbed coal exports even though a large share of them fuels the Chinese economy. The consequences are unlikely to be insignificant.
Another problem is now adding to the mix: rising food prices. These are being driven by soaring fertilizer costs, which...
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