Skyrocketing prices made inevitable by COVID money printing
2 February 2023
SUGGESTED
Monetary Policy
In the Media
Prof. Len Shackleton writes in The Times
3 February 2023
Housing and Planning
Matthew Lesh appears on GB News
IEA Head of Public Policy Matthew Lesh has appeared on GB News to discuss figures that show a 16.7 per cent increase in the price of food.
Matthew said:
“There’s a bunch of things going on in the food industry; there are supply chain challenges associated with the Russia-Ukraine War, rising costs of fertilizers and pesticides, rising cost of energy, increased transport costs, and labour shortages.
“In many ways, this is a hangover from the very loose economic situation we saw during COVID, which is that we decided to pump a whole lot of money into the economy. Inevitably, that’s going to feed through into higher prices.”
Matthew’s full appearance can be viewed here (42:20).
Matthew said:
“There’s a bunch of things going on in the food industry; there are supply chain challenges associated with the Russia-Ukraine War, rising costs of fertilizers and pesticides, rising cost of energy, increased transport costs, and labour shortages.
“In many ways, this is a hangover from the very loose economic situation we saw during COVID, which is that we decided to pump a whole lot of money into the economy. Inevitably, that’s going to feed through into higher prices.”
Matthew’s full appearance can be viewed here (42:20).
SHARE
