Historical inflation peaks! The global economy is devastated…

News7- Fuat Öner

Global inflation, which began to rise with the shutdown of production and the disruption of the supply chain with the coronavirus epidemic, took on a new dimension with Russia’s attempted invasion of Ukraine. Rising energy and commodity prices, along with sanctions on Russia and rising tensions, continue to push inflation up rapidly.

Germany’s electricity is running out! Preparing for a major crisis: No hot showers, businesses could be seized

ARE INFLATIONS TEMPORARY?

As countries battle inflation, they are also trying to keep the supply chain alive. Central banks early in the process. “Inflation is temporary” statements over time “high inflation will continue for a long time” transformed into a message. After successive high inflation, it is now one of the largest central banks in the world. ‘Falcon’ messages and interest rate hikes started coming.

As China’s recent tightening of the Covid-19 quarantine further increases the risk of global inflation, developing countries including Turkey are feeling the brunt of high inflation the hardest.

Global inflation continues to rise

Christine Lagarde, President of the European Central Bank, “Inflation will remain high in the coming months” mentioned. Fed Chairman Jerome Powell, while announcing the 50 basis point rate hike, said inflation was high and the fundamental momentum in the economy remained strong. So much so that the Fed, which raised interest rates after 22 years, gave the signal for a further interest rate hike of 75 basis points.

INFLATION RECORDS KEEP COME

In China, consumer prices rose 2.1% year-on-year in April, while producer prices rose 8%.

China’s National Bureau of Statistics released April data on price increases in the country. As a result, China’s consumer price index (CPI) rose 2.1% from the same period last year, while the producer price index (PPI) increased by 8%.

Inflation, described as temporary by central banks, has become permanent.

Consumer price inflation is estimated to have been affected by supply chain disruptions caused by Covid-19 restrictions in many cities, including Shanghai, the country’s largest city.

HIGHEST INFLATION IN 29 YEARS IN CZECHIA

Annual inflation in Czechia hit 14.2% in April due to rising energy and food prices, reaching its highest level since 1993.

The Czech Statistical Office (CSU) has announced the final inflation data for April.
Experts do not expect commodity and commodity prices to fall in the near term.

As a result, the annual CPI in Czechia, which was 12.7% in March, rose to 14.2% in April, reaching the highest level since 1993.

The country’s CPI rose 1.8% on a monthly basis. While natural gas prices increased by 44.2% on an annual basis, the annual increase was 30.1% for electricity prices, 52.3% for flour prices, 31 .3% for milk prices, 41.5% for fuel prices and 12.1% for services.

HIGHEST INFLATION IN DENMARK IN 38 YEARS

Annual inflation in Denmark hit 6.7% in April due to rising energy and food prices, reaching its highest level since 1984.

The Danish National Statistics Institute has released final inflation data for April. As a result, the annual CPI in Denmark, which was 5.4% in March, rose to 6.7% in April, reaching the highest level since 1984.

While it was said there had been ‘significant’ increases in the prices of electricity, food, fuel and gas last month, annual inflation in the country hit its highest level since 1990 with 3.6% in April, excluding energy and unprocessed food prices.

INFLATION IN THE EURO REGION IS 7.5 PERCENT

Annual inflation in the Eurozone reached its highest level on record, reaching 7.5% in April due to rising energy prices. Inflation, which has reached its highest level in 25 years, 5.4% in France, 8.3% in Spain, 6.6% in Italy, 9.3% in Belgium, 9.4% in Greece, 10.9% in Slovakia, Netherlands 11.2% in Latvia, 13.2% in Latvia, 16.6% in Lithuania and 19% in Estonia.

INFLATION IN GERMANY HIGHEST IN 41 YEARS

The situation is similar in Germany, Europe’s largest economy. Inflation in the country soared to 41 peak.

The German Federal Statistical Office (Destatis) has released the final data for April on price increases. Thus, annual inflation, which was 7.3% in March, rose to 7.4% in April.

“In April 2022, inflation reached its highest level in two consecutive months since German reunification,” Destatis said in a statement. it has been said.

“This is where the impact of the war in Ukraine is becoming increasingly visible,” the statement said, noting the above-average increases in food prices in April 2022. The assessment was made.

As fears of tighter financial conditions in the face of developments in the global economy that fuel inflationary pressures such as epidemics and wars have moved to the center of the agenda, the dollar index, which has seen a peak of almost 20 years with the growing demand for dollars, continues to suppress the currencies of many countries.

GERMANY INFLATION COULD DROP INTO DOUBLE DIGITS

While economists expect an average inflation rate of 6.1% for 2022, they point out that double-digit inflation in Germany could be possible in the coming months if energy imports from Russia stop.

31 YEARS OF SUMMIT IN CANADA

Annual inflation in Canada is around 6.7% in March. This figure is the highest inflation rate in 31 years.

In South Korea, inflation increased by 4.1% in March 2022 compared to the previous year. This rate was recorded as the highest level in the country since December 2011. In Turkey, inflation increased by 7.25 in March compared to the previous month.

EYES ON US INFLATION

US inflation data, one of the most critical inflation data, has been announced. In the United States, the consumer price index (CPI) rose 0.3% per month and 8.3% per year in April, beating market expectations.


Leave a Comment