‘Greedflation’ disappeared from the debate as soon as inflation fell. But it is precisely now, when consumers are paying less attention, that companies can quietly maintain higher margins.

Jolien Brouwer, Thu Nguyen and Charlotte Vincent discussed the role of ETFs in portfolios, chaired by Harry Geels.

Inflation is not just about the money supply. Supply shocks, market power, expectations and policy also determine how price rises arise and spread.