G-7 Central Bankers Stymied By ‘Crude Oil Vigilantes’

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Inflation risks are significant under the influence of oil and energy price increases, commodity price increases more generally, and food and agricultural products. This is perceived in all economies without exception. This is no time for complacency for central banks in any respect.

In China, food prices rose 21% in the first quarter of 2008 from a year earlier. The Euro zone