Inflation is a monetary phenomenon, but it is also much bigger than that. Price rises in the US, UK and EU are breaking decades-old records, and burning into wage packets. High inflation is a grim policy problem at the best of times, and these are not those. In the US this week, consumer price inflation was revealed to have hit 8.5 per cent. “Core” inflation, which excludes the most volatile items, rose by less than expected, but was still up 6.6 per cent on the year. Factory gate prices are up 11.2 per cent on last year.
通胀是一种货币现象，但它的影响远不止于此。美国、英国和欧盟(EU)的物价涨幅正在打破数十年来的纪录，并侵蚀着人们的钱包。即使是在情况最好时候，高通胀都是一个严峻的政策问题，何况现在不是最好的时候。在美国，本周有数据显示消费者价格指数(CPI)已升至8.5%。“核心”通胀率涨幅低于预期，但仍同比增长6.6%。出厂价格同比上涨11.2%。
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