So how come it hit every other country on the planet?
Has NOTHING to do with Biden Administration Running of America ....
Each counties adherence to failed lock down policies ... green energy initiatives ...
Global inflation, which countries are affected by it and which not
Countries with high inflation rates
Some countries have experienced
high inflation rates in 2022. Here are a few examples:
Israel had the second-highest inflation rate in early2022, at 26.5%.
Saudi Arabia (12.6%),
Indonesia (11.9%) and
Argentina (10.8%) also had double-digit inflation rates.
Turkey is leading the top with the highest inflation rate of 54.8% in the first quarter of 2022. According to the most recent Bureau of Labor Statistics data, annual inflation in May was 8.6%, the highest amount since 1981.
The data presented by Statica says the top position was held by
Venezuela with a digit of
1588.51% compared to 2020. The bars are claiming a forecast of 500% as an estimate for 2022. Year-over-year inflation averaged roughly 2.3% every month from the beginning of 1991 and the end of 2019. The status of exceeding is seen only four times, which is 5.0%.
Countries with low inflation rates
Some countries have
very low inflation rates. This means that prices for goods and services don’t increase significantly over time. This can be good for consumers because it means their money will buy more in the future.
Some countries with low inflation rates include
Switzerland, Japan, and
Canada. Inflation in these countries is often
below 2%. This means that prices only go up by a little bit each year.
Low inflation can also be good for businesses. This is because businesses can better predict their costs in the future. This makes it easier for them to
invest and plan for growth.
Overall, low inflation can be good for economies. It can help keep prices stable and encourage investment.
The idea that a handful of corporate malefactors are driving widespread inflation is a fairy tale intended to shift political blame.
No one on the left seems to deny that supply chain disruptions are playing a role in inflation, but the focus on corporate greed is an absurdly reductive depiction of the U.S. economy — as if a broad-based, multicausal economic phenomenon is being mainly or at least significantly driven by a handful of corporate malefactors wielding nearly unchecked power over the consumer price index. It is a fairy tale transparently intended to shift the political blame for an economic discontent that is hobbling Biden’s presidency.
From the broadest point of view, the focus on the supposed monopolistic power of corporate America to set prices at whim makes no sense. Did the American economy, after 30 years of notably low inflation, suddenly become more concentrated earlier this year, such that companies could arbitrarily jack up prices? And why was it that this economic power made itself felt just as supply chain disruptions took hold and the Democrats’ massive Covid relief bill further stoked demand in an already growing economy?
If greedy corporations are to blame, they are at work across the board. In November,
food prices were up 6.1 percent from the year before , with meat, poultry, fish and eggs up 12.8 percent, cereals and bakery products up 4.6 percent, and nonalcoholic beverages up 5.3 percent. Energy increased 33 percent. All other commodities outside food and energy jumped 9.4 percent. Used trucks and vehicles went up 31.4 percent.
It is true that most big companies have increased their profit margins.
An analysis reported by the Wall Street Journal last month found that quarterly profits as a share of GDP are among the highest they’ve been since 1960. But demand is higher than it was pre-pandemic in many sectors of the economy, providing a strong foundation for profitability, and a standard feature of an inflationary environment is companies seeing how much they can raise prices without hitting a wall of consumer resistance.
[clip]
All the hokum about the causes of inflation is basically a confession of impotence. If the Biden administration had a good story to tell about how it’s fixing inflation, it wouldn’t need to create cartoon villains.
It would be better served by focusing on a whole host of barnacles on the U.S. supply chain — from union rules and environmental laws that have hampered U.S. ports and other infrastructure; to the Jones Act, which increases the costs of shipping; to the foolish tariffs on truck chassis at a time when they are in short supply.
Of course, all these measures would be politically painful to address, and none would be a magic bullet. It is easier to pretend that, sometime earlier this year, corporate America suddenly decided out of nowhere to get greedy.