The conflict between Russia and Ukraine has escalated again, and global inflation has reached a new high!
May 29, 2024, 11:58 AM
TDD-global
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The volatile situation between Russia and Ukraine is causing significant global economic repercussions, with soaring inflation rates in multiple countries, including the UK and Germany. Central banks are responding with interest rate hikes while the US prints massive amounts of money. This has led to rising commodity prices and potential economic regression, particularly affecting nations with large US dollar reserves, such as India.
The situation in Russia and Ukraine is volatile and the geopolitical conflict has escalated. Recently, Ukrainian President Volodymyr Zelensky said that the Russian army plans to attack the Donbass. Affected by the conflict between Russia and Ukraine, since March, the inflation rates of the United States, France, Germany, the United Kingdom, Spain, India and other countries have hit new highs in many years. In order to curb inflation, from South Korea to Canada, from New Zealand to Argentina, many central banks have recently Hike!
According to the report, the UK inflation rate soared to 7% in March, the highest since March 1992. Inflation in Spain reached 9.8% in March 2022, the highest level since May 1985. German inflation rose to 7.3 percent in March, the highest since reunification in 1990. Russia's annual inflation rate accelerated to 17.49%, the highest since February 2002!
In the face of inflation, many countries have raised interest rates one after another. In this context, in order to stimulate economic growth, the United States has begun to print money frantically, and issued a total of 40 trillion US dollars! This has caused a great impact on countries with large reserves of US dollars, of which India bears the brunt. As a large amount of reserves, countries that use US dollars have over-issued and depreciated US dollars, and Indian commodity prices have risen rapidly. This also makes it possible for India to experience a direct economic regression for 25 years.
Against the background of the Great Inflation, the global commodity has low inventory and high cost. In terms of commodities, the prices of a large number of commodities with commodity attributes are rising, ranging from metals to grains, such as some steel, non-ferrous metals, agricultural products, Wait for the price to go up. In the context of geopolitical conflicts, commodity prices fluctuated violently, oil and gas prices soared, food prices hit a ten-year high, and commodity prices soared. The global consumers' energy and commodity prices have been impacted, and global economic growth has been affected. threaten!
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