AS the global growth narrative shifted towards pandemic recovery in 2021 and countries eased their Covid-related rules, we saw some of them displayed a persistent trend of rising inflation rate caused by supply and demand imbalances.
The initial impression was that it was transitory as the factors that caused consumer price to spike upwards mostly came from pandemic-related problems, including supply chain disruptions, and were expected to dissipate over the short-term. But going into 2022, the eastern European conflict which involved Ukraine and Russia exacerbated the inflation situation.
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