Depending who you ask, we could be headed for a recession, writes Nigel Bowen. But what does that mean and will it be bad for your business?
If you’ve done the grocery shopping lately, you’ll know inflation is becoming a serious issue.
When the inflation genie gets out of the bottle, economies can enter a destructive spiral. Prices rise, workers demand wage rises to compensate for higher prices, businesses grant wage rises then increase prices to cover increased labour costs, and the cycle continues. Until the relevant central bank starts jacking up interest rates.