Inflation is starting to show signs of slowing from a decade of highs that hit many countries after Russia’s annexation of Ukraine.
The latest figures for the world’s major economies still make for sobering reading, and price pressures remain high while the war in Ukraine continues to keep energy and food prices down. But in other countries the crisis has eased and the prices of electricity and food have fallen. Economists and investors also expect inflation rates to stabilize in the next few years.
Rising prices it remains stable, although low in most parts of Asia.
Central banks have reacted with interest rate hikes, although higher borrowing costs could exacerbate the squeeze on real income.
This site provides regularly updated news about rising consumer prices around the world.
It also includes economists’ expectations for the future, which still show that inflation for 2023 is under review in many countries, although it has stabilized in others including Germany, according to leading forecasters polled by Consensus Economics.
Business expectations of where inflation will be five years from now have stopped rising, pointing to central bank tightening and a weaker economy.
In some countries, especially in Europe, the money used by governments to stop the rising cost of electricity is affected.
Rising energy prices were the cause of inflation in many countries, even before Russia’s invasion of Ukraine. The daily data shows how pressure has increased on the back of the conflict that has forced Europe to look for an alternative gas supply.
However, prices have now fallen due to reduced global demand and European gas storage facilities are being filled close to capacity.
The transition from high prices to consumers is not fast and household and business expenses remain high in Europe, where the energy crisis has been growing due to the high dependence of the Russian region on natural gas.
Inflation has also spread beyond the control of many other thingsand rising food prices hit especially the poorest consumers.
Rising prices reduce what households can spend on goods and services. For the poor, this can make it difficult to find basic necessities such as food and shelter.
Daily data on key commodities, such as the price of breakfast cereals, provide up-to-date information on the challenges faced by consumers. Although they have decreased in recent months, they remain at a high level.
In developing countries, the price of these commodities has a significant impact on final food prices; food also generates a lot of household income.
Another point of concern is property prices, especially housing.
This increased in many countries during the pandemic, fueled by loose monetary policies, domestic workers’ desire for more space and government support measures. However, rising housing costs are already causing significant declines in housing prices in many countries.
