What comes after the inflation hump? Implications for investors

There is much to suggest that inflation will fall significantly next year at the latest. However, investors should not succumb to the illusion that we will quickly return to the low inflation environment of the last two decades once inflation has passed the inflation hump. In our view, in the coming years we should not only expect higher inflation on average than in the last decade, but also increased inflation volatility. Prof. Dr. Bernd Meyer, Chief Investment Strategist and Head of Multi Asset, and Ulrich Urbahn, Head of Multi Asset Strategy & Research, shed light on the reasons, draw parallels to the 1960s and 70s and derive consequences for markets and investors.