emphasizes is that with the growth of the world economy, you've got to look at this in terms of the world as a whole rather than individual countries. So, we think that what is going to happen is that goods prices, well, I think that you're right, that service prices will rise more than goods prices because that's what the old or increasing proportion of the population largely need to consume. But of course, it will lead to, particularly alongside the geopolitical problems, the decline in goods prices, which have been a major element over the last three decades, will end. And we already have a sharp differentiation between goods prices, which until very recently have been generally declining, and service prices which have been generally rising. And that differential is likely to become at least as marked, if not more marked in the future. So, what you are saying is there is going to be variability in terms of where we're going to see the inflation? Oh, yeah. There always has been and (21/43)
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