Inflation attracts metaphors. Especially popular is inflation as a genie, with attendant bottle in which it is either securely contained, or, worryingly, from which it has escaped. The Australian Financial Review reassured its readers in July 2021 that the ‘Inflation genie is not out of the bottle’, but in May the following year a clearly spooked Sydney Morning Herald warned that the RBA was ‘starting its chase of the inflation genie’.
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