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In recent days, products that greatly impact inflation, such as oil, have recorded historic highs in prices. A barrel of Brent reached US$ 135. Another factor
by Vox_Leone 4y ago
In recent days, products that greatly impact inflation, such as oil, have recorded historic highs in prices. A barrel of Brent reached US$ 135.
Another factor that also has an impact is that of food, which may have its fertilizer supplier affected, Russia is a major export market. On wheat, which both countries are major producers, there has also been an impact. That is a major driver of social unrest.
The mid-2022 forecast from the UN Department of Economic and Social Affairs said that the reduction in growth prospects is broad-based, including both the world's largest economies (the United States, China and, most significantly, the European Union) and most other developed and developing countries.
Prospects seem dire, indeed.