The trouble with sticky inflation

The world this week

Leaders

A melting ice cream imprinted with a dollar bill

The trouble with sticky inflation

Investors must prepare for sustained higher inflation

The costs of taming price rises could prove too unpalatable for central banks

The home front

Building Ukraine 2.0

For Russia’s war to fail, Ukraine must emerge prosperous, democratic and secure

Iran’s nuclear programme

America wants to lower tensions with Iran. Good

Now is the time to buy some time

Residential buildings under construction in Zhengzhou, Henan province, China

Confidence trap

China’s economic recovery is spluttering. The prognosis is not good

There are lessons from Japan’s long stagnation

A man plays Candy Crush Saga on his tablet.

Merger crush saga

Blocking the Microsoft-Activision deal would harm consumers

The tie-up promises new kinds of competition in gaming

Letters

On productivity in Latin America, Boris Johnson, New College of Florida, Verdun, banking, Sheikh Hasina, legal speak

Letters to the editor

By Invitation

Briefing

Murals decorate walls riddled with bullet holes in Irpin, Ukraine

Ukraine 2.0

War is reshaping the Ukrainian state—for the better

But corruption remains a plague

A sticky predicament

Inflation is as corrosive to investing as it is to the real economy

The failure to quell it quickly will transform financial markets

Economic & financial indicators

Graphic detail

The Economist explains