Are we going to stagflation?, by Joan Tapia


This Wednesday opens annual conference of the Cercle d’Economia and, although Pegasus dominates everything, it will be necessary to talk about economy. Recently there was a consensus that 2022 would be a great year for Western economies. Were the roaring 20s of the last century coming back? But inflation resurfaced, Putin invaded Ukraine and now there is fear of stagflation (poor growth, skyrocketing inflation). The IMF has recorded that the economic horizon has clouded over and many analysts wonder if we are going to relive the 1970s (of the 20th century) when stagflation dominated the economy after the first rise in oil prices.

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