Pandemic-driven supply issues, as well as a gradual emergence of economic activity globally, have led to higher prices worldwide. Energy and food prices have risen in nearly every country worldwide, unfortunately affecting lower-income and impoverished countries more.
Currently, 38 developed and emerging countries make up the OECD (Organization for Economic Cooperation and Development), which monitors the living standards of citizens worldwide and creates policies to facilitate better conditions.
Optimistically, emerging economies tend to endure inflation better as a younger workforce earns more as rising commodity prices benefit many emerging countries. Ideally, rising food prices can be mitigated as more crops and supplies are gradually added.
Source: Organization for Economic Cooperation and Development
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