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Inflation may pave way to recession: Peter Schiff

Illustration from file photos

The economist says the true inflation rate is ‘well north of 10%’

By Jonathan Garber


Soaring inflation is going to get worse, creating dire consequences for the U.S. economy, according to one economist.

Higher prices for food, gasoline and most other items helped pushed consumer sentiment to an 11-year low in October.

“Inflation is going to help push the economy into recession,” said Peter Schiff, chief economist and global strategist at Euro Pacific Capital.

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