Is a second inflation mountain in view?

[Pyramid Peak in the winter]
John P Kelly

The U.S. could see a repeat of the inflation pattern of the 1970s, according to Apollo Global Management.

"There is upside pressure on inflation and inflation expectations from tariffs, dollar (DXY [https://seekingalpha.com/symbol/DXY]) depreciation and growing disagreement on the FOMC about how much weight to put on rising inflation relative to slowing employment," chief economist Torsten Slok wrote.

"The risks are rising that we could see another 'inflation mountain' emerge over the coming months," he said.

[Inflation comparison of 60s to 80s and 2010s to 2030s]
Core CPI (Apollo Global)

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