I have a feeling that in many parts of the world, the recent speculation-based spike in oil would be the trigger for a huge spike in inflation. It's not like it's not already here:
Sources:
China's inflation rate is so stubbornly high, bank rates are pumped up... again
http://www.reuters.com/article/2011/...7171QA20110208
India's nice growth rate pissed away due to crazy inflation
http://www.bbc.co.uk/news/business-12363201
World Bank and FAO says Food Price inflation a HUGE threat
http://www.philstar.com/Article.aspx...atego ryId=66