You can call it greedflation. You can call it price-gouging. You can be polite and call it profit-led inflation, middleman inflation, excuse-flation or sellers’ inflation. But whatever you call it, it is back. And that is not a good thing. Societe Generale’s Albert Edwards is, he says, shocked. In his four-decade career he has never seen anything quite like the “astonishing” extent to which companies are indulging in what he calls greedflation (Edwards has no need to be polite). So what is it and what makes today’s bout of it so astonishing? Normal inflation is a function of
