The U.S. year-over-year inflation rate is at 8.3%, while the UK’s is at 9.9%. The most recent inflation reading in August was down only slightly from July’s reading of 8.5%. Central banks around the world are “not in full control” of inflation, Bank of America researchers wrote. The researchers studied cases of inflation in advanced economies above 5% from the 1980s to 2000s. They found that on average it took 10 years to bring inflation down to 2% in 10 years. The consensus still expects G10 inflation to drop to. 2% by 2024, but we are concerned it could take longer,” they wrote. “History does not repeat itself, but it rhymes. . . .