Economists and monetary authorities are increasingly coming around to the view that inflation for the past two years was primarily driven by corporate price gauging, not wages or high demand.
"Unit profits contributed around two-thirds to domestic inflation whereas, in the previous 20 years, the average contribution was one-third," said European Central Bank president Christine Lagarde on Tuesday (27 June).
"We haven't seen a rise in aggregate demand in Europe [since 2019]," sai...
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Already a member? Login hereWester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.
Wester is a journalist from the Netherlands with a focus on the green economy. He joined EUobserver in September 2021. Previously he was editor-in-chief of Vice, Motherboard, a science-based website, and climate economy journalist for The Correspondent.