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François Lenglet: "Inflation, beyond the structural causes, is the bill for 'whatever the cost'"

2022-06-09T18:05:54.232Z

INTERVIEW - The war in Ukraine and the concomitant recovery on all continents have contributed to the rise in prices, but this also has root causes, explains the economic journalist and essayist*.



LE FIGARO.

- The rise in prices will last in France, the end of the inflation peak is not expected before the end of 2023. Is this plausible?

Francois Lenglet.

-

Inflation is likely to be with us for a long time.

Of course, it has short-term causes, which will fade away.

Like strong global demand caused by a synchronous recovery across all continents in 2021. Or the war in Ukraine and soaring energy prices.

These apparent causes would suggest that the inflationary surge is a transitory phenomenon, which will disappear with them.

As a result, observers focus on these events and their dynamics, which however conceal the real, lasting causes.

The shift in globalization, first of all, with the return of geopolitical risk.

The corporate playing field is shrinking, it now excludes Russia, maybe tomorrow China and Turkey.

However, it was the globalization of the 1990s that had been the main cause…

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Source: lefigaro

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