from Zero Hedge
The invasion of Ukraine and the events that have followed, especially in commodity markets, have triggered a downward revision in growth expectations amid an inflationary shock. It appears the reflation narrative has quickly shifted to stagflation as one of the most recognizable consumer-goods brands warned how the dark days of 1970s-style inflation could be imminent.
Following the far-hotter-than-expected CPI print last week, soaring to levels in February not seen since January 1982, along with Tuesday’s Producer Prices last month hitting double-digits for the first time since Bloomberg data began, JAB Holding Company, a German conglomerate that includes investments in companies operating in the areas of consumer goods, forestry, coffee, luxury fashion, animal health, and fast food, among others, published an investor letter on Wednesday warning about continuing inflation.