Demonstrators angered over the high cost of living clash with police in Montpellier, France, on Oct. 17. | AFP-JIJI

Anyone walking along the boulevards of Paris recently will have sensed the “shame and anger” described by President Emmanuel Macron following the eruption of nationwide rioting.

Smashed-in storefronts, boarded-up windows and charred makeshift barricades hinted at the looting that hit some 1,500 stores across the country. Dozens of armored cops were still standing guard, shields raised, after a night when 500 people were taken into custody in the French capital alone. And amid the chaos, one lone bystander with a broom quietly sweeping up broken glass.

It’s not only France that’s feeling the heat. Anger about rising inflation, from energy prices to housing costs, has led to clashes in Italy and Portugal. It may also cost U.S.…