Judging by that little uptick in COVID case rates worldwide (bottom right), we aren’t really “past” it quite yet. BA.5, or whatever the acronym, is just the latest in a never ending series of variants/iterations/alphabets.
And as for whether it is inflationary or deflationary, I think we’ve talked ourselves into “it depends” as the final word on the matter.
We can at least comfortably agree that it isn’t good.
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