The Graphic Truth: Prices are soaring everywhere
It started growing in the spring, crept up in the summer, and exploded in the fall. Inflation now dominates the political conversation in many countries. COVID-related disruptions to supply chains are considered the primary cause, but economists also argue about other factors like too much stimulus spending. What to do about it? The classic recipe is raising interest rates, which will make borrowing more expensive, and risks slowing down the economic recovery everyone’s been dreaming of for two years. We take a look at how prices have risen in a few key places around the world.