

And then there is the whole inflation feeding through into Fertilizers (mainly from higher Natural Gas prices rather than Oil prices), in turn feeding through into Food prices, all of which carries even long delays to fully emerge in consumer prices because of the time food takes to grow (more so if you think cattle since fertilizer prices indirectly push costs up through the increase in feed prices, so there’s even more delay there than for something like corn).
Just the first month of war has baked in many months of rising Inflation.


Now is a very good time to exercise one’s Delayed Gratification ability.