From AEI:
…the US economic system is certainly performing very nicely, and this may be seen most readily by evaluating its efficiency with that of different superior economies, all of whom have been hit by the identical pandemic shock in 2020, adopted by the identical inflationary surge. Determine 1 under compares cumulative US inflation since December 2020 (that’s, the rise within the worth degree) with that of different superior economies. (Information for all figures are introduced within the appendix.) Clearly, and regardless of the blame laid on Biden’s insurance policies, there may be nothing distinctive about latest US inflation. It displays the identical elements driving costs world wide—supply-chain disruptions, rising world commodity costs, the pandemic shift in consumption from providers to items, and monetary stimulus.
