Expectations of inflation, and recent waves of price rises, could be self-fulfilling and fuel ‘greedflation’ – and it may not only apply to US consumers

Over the past few years consumers have grown used to seeing prices rise at an exorbitant rate. The cost of everything – from used cars to utility bills and the humble loaf of bread – has rocketed in the worst inflation shock across advanced economies since the 1980s.

While inflation has cooled in the past year, talk of fast-rising prices is back on the agenda from Donald Trump’s escalating trade war.

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