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The spectre of stagflation: real or imagined?

Read about global markets and trends in the November edition of Investment Outlook.

The value of investments can fall as well as rise and that you may not get back the amount you originally invested.

Nothing in these briefings is intended to constitute advice or a recommendation and you should not take any investment decision based on their content.

Any opinions expressed may change or have already changed.

Published on 04 Nov 20211 minute read

The spectre of stagflation: real or imagined?

This monthly commentary gives a round-up of global markets and trends.

In this edition:

  • Surging energy prices have contributed to inflationary pressures at a time when economic growth momentum may be weakening.
  • This has led to concerns over potential stagflation, where inflation pushes prices up faster than wages and profits, forcing consumers and businesses to cut back on expenditure.
  • Previous episodes of stagflation have been difficult for stock markets, with companies struggling to grow earnings.
  • Stagflation remains only an outside possibility. Strong economic growth is allowing firms to pass on higher input costs to consumers without denting demand.

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