- July 2, 2022
- Posted by: Stratford Team
- Category: Economy
The rise in inflation is expected to be mainly driven by higher food prices due ongoing global supply chain disruptions. — Bernama photo
WHEN all seems to be going well as the world slowly emerges out of the grasp of the Covid-19 battle, it faces a new dilemma brought on by supply-cuts, rising commodity prices, and months-long conflict in Ukraine.
All these events have lead to the rise in prices of essential goods such as food and oil, and globally consumers are starting to feel the squeeze.
The United Nations (UN) in its World Economic Situation and Prospects as of mid-2022 report warned that the global economy may be on the cusp of a new crisis, while still recovering from the pandemic.
“The war in Ukraine has upended the fragile global recovery, triggering a devastating humanitarian crisis in Europe, pushing up food and commodity prices, slowing growth globally and exacerbating inflationary pressures worldwide.
“Geopolitical…
