Posts Tagged ‘Ron insana’
“We have solid growth and ‘panflation,’ price hikes that are induced by a global pandemic that has disrupted supply chains around the world, greatly distorted global labor markets amid uneven demand for specific goods and services” — Ron Insana
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Ron Insana is describing the current economic situation of “solid growth” but also “panflation”, which refers to price hikes that are occurring due to disruptions from the global pandemic. Specifically, the pandemic has disrupted global supply chains and distorted labor markets by creating uneven demand for certain goods and services.
This has led to rising prices in many sectors as supply struggles to keep up with changing patterns of demand amid the pandemic. In summary, he is noting that while the economy is growing, inflation is also being driven higher by specific pandemic-related factors affecting supplies, shipping, and labor availability in a uneven way across industries.