Pork prices in the CPI basket have risen 17.4% since May and were up 16.7% yoy in July, which accounted for half of the headline CPI reading of 1.6% yoy.
The current cycle is similar to the previous two disruptive cycles in terms of supply shortages…
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David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
