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Reading the morning summaries of the newspaper, I came across an article that, according to forecasts, inflation will not remain within the limits of the predicted non-percentages, but will increase and grow, thereby creating economic instability in the world. Do you think it is worth relying on the opinion of economic experts? There have not been any official statements from banks by country yet, but the dynamics show that inflation is growing along with the annual rate of banks. But now it is quite high in all countries, respectively, the rise in price and instability in the markets should be expected or a slight increase in inflation is possible, which will not affect the economy of the world?

2023 is here now, and we can all see that the inflation is taking over the economy, this isn't limited to a country, but it's widely spread in the world.

We pray things get better

Of course, inflation will continue to grow this year, because the economic and food situation continues to deteriorate, the political situation in the world continues to be tense. Russia continues its war in Ukraine. By blowing up the Kakhovka HPP, Russia deliberately caused an ecological disaster, turning the fertile lands of Ukraine into a desert, which means that Ukraine will not be able to export agricultural products in the same volumes and in many countries the prices for products will increase. Now the Russian occupiers have mined the largest Zaporozhye nuclear power plant in Europe, as well as the Titan chemical plant, located in the north of the Crimean peninsula. In addition, the political leadership of Ukraine has already stated that, according to intelligence, the military received an order from the Kremlin to blow up the Zaporozhye nuclear power plant and cause a radiation leak. If world states do not take preventive measures against Russia, it will be fun. For many countries, hunger and radiation will be provided.

Now every country in the world is suffering from inflation. But we all know that the war in Ukraine and Russia is the main cause of this inflation. Though economic experts are trying to keep this rate at a sustainable level but they are failing and it is normal. Because when the price of a product increases in the international market, no import-dependent country can control it. However, the rate of inflation is not likely to decrease for the time being but it may rise further in the future. Moreover, if the oil producing countries reduce their production, then it is not possible to control it in any way. Because everything changes depending on the oil.

I don't think the main cause of inflation is the war between Russia and Ukraine, not even the covid pandemic is the main cause. Inflation is a part of the economy, and it always comes back after each cycle, even if there is no epidemic or war, inflation still occurs. But this economic crisis has been aggravated by the effects of the covid pandemic and war.

Inflation still instills fear globally, but the impact is not the same across countries. In the US, inflation has also cooled down, but in the EU, it is still very high, and in my country, bank interest rates are also falling, showing that inflation is cooling down. But the OPEC reduction in oil production also makes me think it is very easy for inflation to rise again at any time.