Inflation volatility is coming says Ruffer LLP’s investment director Duncan MacInnes.
Inflation is at a 40-year high. Given Ruffer has warned against rising inflation for some time, you might be forgiven for thinking we’ve cracked open the fancy (chocolate-covered) biscuits.
Unfortunately, we cannot rest upon our laurels. Because, ironically, now inflation is perceived as a problem, we can rest assured it will soon appear ‘Transitory’. But appearances can be deceptive.