Why inflation will be hard to bring down

The world this week

Leaders

Still aloft

Inflation will be harder to bring down than markets think

Investors are betting on good times. The likelier prospect is turbulence

Scotland's First Minister, and leader of the Scottish National Party (SNP), Nicola Sturgeon, speaks during a press conference at Bute House in Edinburgh where she announced she will stand down as First Minister, in Edinburgh on February 15, 2023. - Scotland's First Minister Nicola Sturgeon announced Wednesday her resignation after more than eight years leading its devolved government, in a shock move jolting British politics on both sides of the border. (Photo by Jane Barlow / POOL / AFP) (Photo by JANE BARLOW/POOL/AFP via Getty Images)

Peak populism

Nicola Sturgeon’s resignation is part of Britain’s great moderation

Pragmatism is taking hold north and south of the border

Israeli protesters attend a rally against controversial government plans to give lawmakers more control of the judicial system, Tel Aviv on February 4, 2023. - Thousands of people demonstrated in central Tel Aviv for the fifth week running against controversial legal reforms being touted by Israeli Prime Minister Benjamin Netanyahu's hard-right government. (Photo by JACK GUEZ / AFP) (Photo by JACK GUEZ/AFP via Getty Images)

A constitutional crisis in Israel

Israel’s proposed legal reforms are a dreadful answer to a real problem

They will damage the country at home and abroad

Wind turbines are photographed on hills of the Taunus region near Frankfurt, Germany, after sunset on Tuesday, Feb. 7, 2023. (AP Photo/Michael Probst)

Plug and pay

The world won’t decarbonise fast enough unless renewables make real money

Governments must accept that green power is pricey

TOPSHOT - Presidential candidate of Labour Party Peter Obi looks on during the party campaign rally in Lagos, on February 11, 2023. (Photo by PIUS UTOMI EKPEI / AFP) (Photo by PIUS UTOMI EKPEI/AFP via Getty Images)

A chance for change

Nigeria desperately needs a new kind of leadership

Peter Obi offers the best hope of it

Letters

On China and space, Turkey, Paul Pennyfeather, Pakistan, The Gambia, banking, old age

Letters to the editor

Briefing

A hard road

Lots of investors think inflation is under control. Not so fast

Tight labour markets suggest that prices may continue to rise faster than markets think

Britain

Scotland's First Minister, and leader of the Scottish National Party (SNP), Nicola Sturgeon, speaks during a press conference at Bute House in Edinburgh where she announced she will stand down as First Minister, in Edinburgh on February 15, 2023. - Scotland's First Minister Nicola Sturgeon announced her resignation Wednesday after more than eight years leading its devolved government, in a shock move jolting UK politics on both sides of the border. (Photo by Jane Barlow / POOL / AFP) (Photo by JANE BARLOW/POOL/AFP via Getty Images)

Middle East & Africa

Economic & financial indicators

The Economist explains