It is always hazardous, in economics, to venture into the art of forecasting.
Let's remember, it was just a few months ago: the health crisis overcome, we were promised that things would get back to normal without delay.
Growth would return and the surge in prices, fueled by soon-to-be-resolved bottlenecks, would quickly fade.
One could dream… until the black swan of the war in Ukraine appeared.
The fairytale scenario of a smooth recovery is now giving way to the specter of stagflation: a slowdown in growth and a runaway inflationary machine.
The worst is never certain, but today everyone is caught by the throat.
Companies, which see their costs explode at the rate of energy and raw material prices.
Households,
who suffer the repercussions of it by refueling their car or filling their shopping cart.
Wage demands are becoming widespread.
Movements…
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