Global Outlook

 Inflation is a loss of purchasing power over time. The world is currently struggling due to rising inflation. Read this article to know about 5 facts about Inflation in 2022. Top 5 facts about inflation in 2022  The annual rate of inflation worldwide The annual rate of inflation worldwide, as measured by the consumer price index (CPI), accelerated to 9.2 percent in March 2022, the worst rate in any 12‑month period since the beginning of the series in January 2019. The cost of food has climbed at double-digit percentage rates. Russia-Ukraine crisis The inflation has been exacerbated worldwide by the Russian invasion of Ukraine. The cost of Russian energy and Ukrainian grain is also dramatically spiking. The war has sent energy prices soaring across the world. The world was recovering from a downturn caused by the Omicron variant of the Covid-19. However, the war affected the recovery of the economy. The United States Consumer Price Index grew at an 8.5% annual rate in March Th...