The main cause of inflation around the world is simple: energy supply shocks.

And I know this really hurts the GOP narrative, but: the U.S. has seen less inflation than its peers because it is far more energy independent and producing more oil and gas than anyone else. https://t.co/8hGEtLTLJb

— Matthew Chapman (@fawfulfan) October 23, 2022

Inflation rates around the world:

Turkey: 83.45%
Argentina: 83%
Netherlands: 14.5%
Russia: 13.7%
UK: 10.1%
Germany: 10%
Europe: 9.9%
Spain: 8.9%
Italy: 8.9%
Mexico: 8.7%
United States: 8.2%

(per @tEconomics)

— No Lie with Brian Tyler Cohen (@NoLieWithBTC) October 23, 2022

A few more thoughts on the current inflation environment — partly to clarify things for myself. Right now we have ~7% inflation (last three months on PCE deflator, annualized); underlying inflation much lower 1/

— Paul Krugman (@paulkrugman) June 18, 2022

A few thoughts on the political economy of inflation, which are deeply unfair — and also may not play out quite how everyone thinks 1/

— Paul Krugman (@paulkrugman) June 17, 2022

Understanding what is behind the painfully high CPI inflation is key to understanding where it is headed and when. This table should help with this. The Russian invasion and spike in oil and other commodity prices is the #1 reason, followed by the pandemic & the housing shortage. pic.twitter.com/wBA2DZulf8

— Mark Zandi (@Markzandi) June 12, 2022

Before Russia invaded Ukraine, US gas prices were $3.53 / gallon

They're now $5.10 / gallon

That's nearly a $1.50 / gallon Putin premium pic.twitter.com/J6midRtDga

— Rick Newman (@rickjnewman) June 14, 2022