i noticed a few years back that there seemed to be big spurts of inflation after wars. Makes sense, since it is usually a big government expenditure. I suppose economists all know this, but I don’t recall seeing this anywhere. I will go so far as to say COVID was a sort of war, and the entire world had a bout with inflation afterwards. Saw this in the French newspaper Le Monde today. Glad I’m not applying for a mortgage in Russia.

Russia hikes interest rates to 21%, highest since 2003