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Shock and war: global prices rise

The Intelligence from The Economist

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What Are the Economic Consequences of War?

Rabinovitch: War increases the risks of stagla by which i'm referring to the idea of growth getting much slower, at the same time as already high inflation gets even higher. The primary mechanism by which this is happening has been the shock to global commodity markets where oil prices shot up quite dramatically. Nobody's forecasting staglation this year. But it presents a pretty stiff head wind to growth.

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