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by zacharytelschow 1527 days ago
> war is now the primary driver of inflation

“Inflation is always and everywhere a monetary phenomenon, in the sense that it is and can be produced only by a more rapid increase in the quantity of money than in output.” -- Milton Friedman

All else being equal, a rise in the price of wheat or oil would necessitate a decrease in the price of other goods as more money than previously is spent on those particular goods. If you spend more money on gas, you'll have to spend less on something else. The only way [wheat+gas+etc] and all other goods can rise is if there's more money created to chase those goods.