06/01/2026
The recent rise in inflation may feel familiar, but the drivers appear far less structural than the 2021/22 cycle.
With energy and supply chain disruptions playing a key role, the outlook may be more temporary than many fear.
A helpful perspective for staying grounded in today’s market environment:
Inflation is back — but this time, the drivers are different. The Strait of Hormuz, AI infrastructure buildouts, and a tightening labour market are all pushing prices higher.