SIMIC

"Many economists fear inflation because so much money is being pumped out. And though history would suggest that the monetary environment ought to feed dangerous inflation, We don't really see that now. On a global level we don't see strong inflationary pressure at this point," said Mr Skou.

Trying to figure out if inflation will make a comeback is developing as one of the key questions of 2021. Internationale Nederlanden Groep (ING) chief international economist James Knightley commented on the matter.

"Admittedly, the annual rates should start edging lower as we move through 3Q and the economic extreme of lockdown is no longer included in the calculation," said Mr Knightley.

"Nonetheless, we are not as optimistic as the Federal Reserve in thinking this is 'purely transitory' and we will quickly be back down to two per cent and stay there," said Mr Knightley.

Meanwhile, Mr Skou stated he's paying attention to what's driving any sudden price developments.

"Commodity prices have gone up a bit, but I don't think that's about inflation as such but has more to do with the high demand there has been for all commodities. So commodity prices have simply gone up because production wasn't able to keep up," said Mr Skou.

"The global economy will have a very high growth rate this year, some of it obviously helped with the comparison to weak levels in 2020. China and Asia will generally have the highest growth because they came relatively easily and quickly through the pandemic," said Mr Skou.