So I am looking forward to reading a new book by Pippa Malmgren called ‘Signals: the breakdown of the social contract and the rise of geopolitics’.
Malmgren, a former adviser to President George W Bush, discusses what she calls ‘shrinkflation’, the phenomenon of charging consumers more for the same amount or less – for example, Cadbury might reduce the size of a bar of chocolate but keep the retail price the same.
I suspect that once the inflation genie is out the bottle, the authorities will struggle to stuff the ogre back in. I could be wrong. I have certainly been wrong before. But let’s see what the autumn brings. Will market participants, whom I would argue have been in deep denial, pile in to precious metals and commodities as a hedge against geopolitical risk and stirring inflation?
How was your month? Please send news and views to Abigail@euromoney.com.