How bad are the price hikes that we have been told you will expect?
There is a certain subgroup of business commentators who have taken on the role of Jeremiah on this subject. Be careful, they say, because if we are not careful, inflation will hit back and the consequences will not be nice.
They are usually either baby boomers or early Generation X members. In other words, they’re old enough to be aware that prices are rising nearly 25 percent, which they did sporadically in the 1970s. and certainly when inflation topped 9 percent in the early 1990s.