The big question in financial markets is whether the post-pandemic recovery will bring a burst of inflation. In some corners of the world economy, it has already arrived.
For commodities such as soybeans or copper, and in industries such as shipping and countries such as Brazil, prices have been climbing rapidly — for reasons directly tied to the disruptions of COVID-19, the policy response or the surge in demand that comes with hopes of recovery.
None of this is enough to settle the great inflation debate one way or the other.