When we first aired this episode of Ones and Tooze on why prices are rising, analysts were warning of a possible inflation crisis. Now, two months later, the crisis is here, with inflation at a four-decade high. Listen to hosts Cameron Abadi and Adam Tooze discuss how inflation works and what it means for ordinary people around the world. Also on the show: what Germany’s increasing demand for Italian pasta says about the European Union economy. This is our last episode of 2021, so happy new year! We’ll be back in January.Save 15% on FP subscriptions. Visit https://foreignpolicy.com/subscribe/ and enter code TOOZE at checkout to claim this offer. See acast.com/privacy for privacy and opt-out information.