There's 3 different kinds of inflation, supplyside, demandside and monetary in a normal economy.
Supplyside - is like the oil shock of the 70s where circumstances out of your control raise input prices/costs.
Demandside - is when the economy is booming, eg mining boom
Monetary - asset price bubbles
What we're witnessing is primarily monetary with a lesser degree of supplyside, and probably also some demandside.
There's 3 different kinds of inflation, supplyside, demandside...
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