Speaking of Inflation, Diesel is Up 40pc in a Month

Many people rightly point out that a supply shock is not inflation, but what they fail to consider is that if you have a supply shock, you by definition have printed too much money. If the central bank doesn't tighten up money supply, then people can easily bid the price of say, diesel, to the Moon. Hiking interest rates doesn't make more diesel available, but it can be the difference between $7/ga diesel and $20/ga diesel.