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Annual inflation increased to 8.3% in August 2022, in part due to rising grocery prices. [154] In September, the Fed increased the interest for a fifth time in the year reaching a 14-year high. [155] In November 2022, the year-over-year inflation rate was 7.1%, the lowest it has been since December 2021 but still much higher than average. [156]
“The inflation of 2022 was caused by a convergence of factors,” said Collin Plume, a 20-year financial services industry veteran and CEO of Noble Gold Investments. “Supply chain jams ...
The firm cited the fact that in August, US M2 money supply rose 2.0% year-over-year, the highest growth rate since September 2022. Read the original article on Business Insider Show comments
The decline was due to the highest inflation readings as part of the 2021-2023 inflation surge and the resulting increases in interest rates, combined with fears of a global recession due to a decline in economic indicators and an inverted yield curve, exacerbated by supply chain disruptions due to the 2022 Russian invasion of Ukraine and ...
According to the latest Consumer Price Index numbers, prices rose 6.5% from December 2021 to December 2022, which is still a slight improvement from a June 2022 surge when prices rose 9.1% YoY.
During 2022 and 2023 there were food crises in several regions as indicated by rising food prices. In 2022, the world experienced significant food price inflation along with major food shortages in several regions. Sub-Saharan Africa, Iran, Sri Lanka, Sudan and Iraq were most affected.
Inflation lifted to its highest level since April last month, according to official data.
In 2021–2022, most countries experienced a considerable increase in inflation, peaking in 2022 and declining in 2023. The causes are believed to be a mixture of demand and supply shocks, whereas inflation expectations generally seem to remain anchored (as per May 2023). [ 101 ]