A customer’s groceries are rung up at a store in San Francisco, California, U.S., on Thursday, Nov. 11, 2021.
David Paul Morris | Bloomberg | Getty Images
Critical supply chains are choked off. Demand soars. Prices surge and everyone starts freaking out about inflation and wonder how long it will last.
Is it 1945? 1916? 1974?
The answer, of course, is all of the above, and you can throw 2021 in there as well.
Inflation is not something new for the U.S. as the nation has weathered seven such episodes of lasting price surges since World War II including the current run, which is the strongest in 30 years. Getting out of the pandemic shock has been a difficult exercise for the world’s largest…