Will there be runaway inflation next year? Not if wages don't rise

The hawks are warning – once again – about the economy overheating. But a vaccine alone will not cause that

There is always an economist somewhere agonising about inflation. As we head towards Christmas with an inflation rate falling towards zero – it dipped to 0.3% in November – you might think they were mostly keeping their counsel.

Not a bit of it. The inflation worriers are out and about, spreading their gloomy message of imminent rising prices as the economy overheats uncontrollably post-Covid, post-Brexit.

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