The Great Global Inflation Of 2022

In the past six months, inflation has far exceeded December 2021 expectations. In many countries, actual rates have doubled projections. European countries are particularly affected. For example, inflation in Lithuania is running at 15.5 percent annually, nearly five times the rate expected. Poland is at 11 percent and the United Kingdom at 9 percent, both well above projections. At 3 percent, Switzerland is an outlier. Asia is seeing a less severe change: Indian inflation is about 7 percent, only a bit above projections; and South Korea is at 5 percent. In China and Japan, inflation remains muted. – McKinsey & Company

 

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2 Responses to The Great Global Inflation Of 2022

  1. Joe R says:

    Mr Varoufakis ( who compared Star Trek to Communism and The Matrix to Capitalism) explains how the EU and UK energy “markets” are basically rigged shakedowns of the public or public coffers for energy companies, and not functioning markets in the least way. Minutes 2-25.

  2. Joe R. says:

    The top three here should probably regarded as outliers. They have populations from 1-3 million and GDP per capita is about US$20K. They have big wage remissions from emigrant communities elseshrere in the EU. Some had lower GNP than GDP for years due to the extent of remissions, and may still have.

    The worst is yet to come for the Europeans, I would guess, as winter will see hikes in energy bills directly and indirectly for all.

    And Switzerland is already unbelievably expensive for regular goods – anybody who can goes across a border for regular shopping.

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