Warren Buffett has been thinking about inflation for a long time. The legendary 91-year old investor had the dangers of inflation drilled into him by his Republican Congressman father, according to biographers, and has repeatedly commented on the subject throughout his investing career.
“We’re seeing very substantial inflation,” Buffett said at last year’s Berkshire Hathaway annual meeting. “We’re raising prices, people are raising prices to us. And it’s being accepted.”
Consumer prices increased 7.9 percent in February 2022 compared to the prior year, the highest level of inflation in 40 years. Prices for used cars and gasoline each rose by about 40 percent.
