Harley Haines

Basic questions you need to know about inflation

The Bank for International Settlements (BIS) has warned that the world is facing a new era of high inflation and interest rates as relations between the West, Russia and China deteriorate and globalisation reverses in the wake of the Covid-19 pandemic. Soaring global energy and food prices have contributed to annual inflation of more than 5% in nearly 60% of advanced economies, the highest rate since the late 1980s, while more than half of developing countries have inflation of more than 7%. %.