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There's a lot of arguments about the mechanisms of inflation, and its various symptoms, but surely the root cause of inflation is elevated energy prices? I mea

There's a lot of arguments about the mechanisms of inflation, and its various symptoms, but surely the root cause of inflation is elevated energy prices? I mean energy underpins the price of everything else in an economy, especially production and transportation, which in turn affects the price of groceries. I guess as far as groceries go there's also a significant labor component, but still, it must surely be the cost of energy as the principal driver of inflation? Edit: typos

Kailhus 4y ago
Thanks for raising this. Totally. I think most of the user base here is US centric but from what I can see from the side of the pond is that the biggest worry is that increasing interest rates will do shit all because the deep root of the problem is energy, brexit and all kinds of terrible policies that the Torry governement has been inflicting on the country to become ‘self sufficient’ which had such deep and brand new ramifications our economy that we are actually just making shit up hoping it works. Economists can’t rely on previous data anymore as we’re basically starting ‘brand new’.