Good stuff IMF thanks for your hard work whatever would we do without you. Who cares if inflation is headed back down to 2017 levels, the damage has already been done. Prices will not come back down in any meaningful way as far as the the consumer is concerned. This coupled with the astronomical increase seen over the last ten years in asset prices particularly houses in countries such as Canada, the UK, Australia and New Zealand has in a handful of years snuffed out the old middle class. Those who do not already own a home will struggle to achieve that, and many that may have struggled before will never achieve it due to the increase in the cost of day to day living. In those counties, there is now the 1%, the middle class (homeowners), and the working poor (everyone else).