The inflationary wave that hit Europe and the world in 2021, 2022, and 2023 is visibly receding. What can we learn? How do its lessons help us prepare for an uncertain future? Summary 🧵 of new @dezernatzukunft.bsky.social@felixheilmann.bsky.social & I: "Fossil fuel to the fire" 1/6

We see three take-aways: 1. Fossil fuels were indeed the main driver. On average, 50% of year-on-year inflation in 2022, the year inflation peaked, was directly due to energy, most of that from fossils. Add the indirect impacts, esp. on food, and it's well over half. 2/6