Inflation is at a 30-year high right now, and it could go even higher.
Prices were going up even before the war in Ukraine and so now the forecasts are even worse, not helped by parts of China shutting down as a new wave of Covid there takes over.
It’s all pretty gloomy, and the International Monetary Fund says the world must brace itself for an economic slowdown and a potential wave of social unrest.
In today’s episode of The Fourcast, our Business and Global Trade Correspondent Paul McNamara explains how inflation is impacting farmers and businesses and how high prices are passed onto us. And whether there is anything governments can do in this perfect storm of an economic crisis.
Sources: Sky News