Global inflation pressures could become harder to manage in coming years, research suggests

Rising trade barriers. Aging populations. A transition from carbon-spewing fossil fuels to renewable energy. The prevalence of such trends across the world could intensify global inflation pressures in the coming years and make it harder for central banks to meet their inflation targets. That concern was a theme sounded in several high-profile speeches and economic studies presented at the Federal Reserve’s annual conference of central bankers in Jackson Hole, Wyoming. For decades, the global economy had been moving toward greater integration, with goods flowing more freely between the United States and its trading partners. Since the pandemic, though, that trend has shown signs of reversing. Multinational corporations have been shifting their supply chains away from China.