America’s inflation problem is weirdly hard to fix

Inflation: Why? That’s the question many consumers have been finding themselves asking lately. Followed by inflation: Fix?

We’re in quite a conundrum when it comes to rising prices. Inflation is at a 40-year high in the United States and accelerating around the globe. The situation may very well get worse before it gets better, as Russia’s war on Ukraine stands to exacerbate price pressures, as does a new round of lockdowns in China due to Covid-19.

Among economists and experts, there’s no strict consensus about what exactly is to blame. There are certain factors widely agreed upon...