Inflation is in the news again. Many prices are rising even before we can physically get out and spend, and governments are pouring vast amounts into the economy.
Whichever side of the inflation debate you are on, it makes sense to assess the impact inflation could have on portfolios. Most of today’s investors have never seen meaningful inflation in the whole of their professional careers. So, as we emerge from lockdowns and pent-up demand meets ongoing supply constraints, we consider how different asset classes might fare if inflation does return.