The world economy keeps crashing with many incidence of inflation. What is happening at the moment is a clear indication of a world that has failed the minority. Although the underdeveloped countries could partly be blamed for the high inflation that exists in their respective economies. Would things turn around for good if underdeveloped countries start to add value to their natural resources themselves without selling to the countries with good economy?
This much like pertains to supply and demand logic. There would be an inflation on the product price if there is too much demands on certain products but the supply they provide can't be suffice the number. Plus the fact that the raw materials used was also increasing plays a huge factor on increasing the price on some products.
if the price increase is severe enough it will disrupt the stability of the country's economy. therefore the government is obliged to control inflation every year, so as to encourage economic growth in the country
Not all the case is that the inflation is based from the goods and the demand for it. Sometimes, the government can pass a law inducing inflation on goods but in return, they will provide a compensation through increasing the salary of the people. In particular, it happens with the tax inflation that affects the price of the goods.
In my opinion, this inflation could be solve simply by the citizens that will choose their own products rather than choosing foreign proucts.