Is inflation about to peak?

Since the beginning of 2021, breakeven inflation has risen sharply, and has reached almost 3% at the end of October, while breakeven inflation has been relatively steady at around 2% over the past decade. Despite the rise in inflation this year, Treasuries have not moved to previous levels of 2.5%. Therefore, concerns about a stagflation scenario have increased. At the same time, many of the demand-side and supply-side inflation forces are related to the pandemic and are expected to ease as economic activity normalises.

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