On Wednesday, the government said its consumer price index rose in October 6.2% from a year ago — the largest 12 month jump in 31 years, since 1990. Because of the unique economic recovery we've been living in, economists have been debating whether inflation is "transitory" or not — fundamentally unsure if it will pass on or settle in. Many on the left have argued that the inflation we're seeing is due primarily to things like supply chain snarls, and will resolve itself on its own as the economic disruptions shake out. Others have argued that inflation is the result of government spending, comparing our relatively higher numbers to many European countries experiencing supply chain issues, and saying we need policy changes as well.
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