Copper +0.14% Add to/Remove from Watchlist Forget predictably floating around 1.5% as in the last decade. Does this mean this paradigm shift will see inflation consistently print at 4% going forward? Not necessarily. But it sure means the volatility and uncertainty around inflation will be higher – and that’s all that matters for global macro portfolios. Let’s look together at the drivers of inflation going forward, bearing in mind there is a big difference between structural inflation (5-10 years horizon) and the inflation cycle (6-12 months ahead). Structural drivers of inflation include amongst others demographics, globalization, the fight between labor...