Why does inflation in one country or continent affect the others. Why does it seem like the whole world is experiencing a global economic downturn all at once despite having different economies, different policies, different politics?
Covid-19 pandemic was globally and there was lock down,which lead to lack of production and depreciation of economy world wide. People were only feeding from what they had and so many people lost their jobs, the government was caring for its citizens which lead to the idea of printing money by the government, thinking that it will be a solution to the problem,without having the knowledge that printing money will increase inflation. Secondly,the ongoing war between Russia and Ukraine is eaten up the economy and causing inflation. If you think that you are not part of the war, but you are partaking in the hardship that the war is causing.