John MacDonald: Inflation - what goes around, comes around

Best of Business · Jul 19, 2022 · 5m

It’s occurred to me that the old phrase “what goes around, comes around” pretty much sums up inflation in five words.

The more money going around, the more it comes back to bite us with higher inflation.

And it’s happening in countries all over the world. Our latest inflation rate came out yesterday - 7.3 percent. Certainly not the lowest, and certainly not the highest.

The most recent inflation figure in the UK is 9.1 percent. In the US it’s 9.1 percent. Lebanon is the worst, though, at a 211 percent rate of inflation.

Nevertheless, no one can argue that the cost of living here in New…