If there were damage to the energy infrastructure, if there were changes to the supply chain and what could come out of the Persian Gulf, those would be things that would affect the overall price of energy or price of oil, even if the conflict came to an end. I think there's an unfortunate aspect of this shock to energy prices that we're likely to see an impact driving up inflation at a time when we still haven't quite cleared out the previous shock that was driving up inflation, and that people were already amped up about the cost of living and affordability, and now we're probably going to take another bit of a hit on that. If what we're doing is encountering a period where inflation was already elevated, has been above the target for five years in a row, and now is going to start trending the wrong way with inflation going up more, we're going to have to really think through what the options are and how we're going to get through it.
Author: Geoff Bennett, Karina Cuevas
Published at: 2026-03-24 22:30:14
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