Headline RoundupJune 23rd, 2022

Around the World, Inflation Worsens

Summary from the AllSides News Team

Inflation is frustrating consumers in the U.S., but also in many other countries around the world.

Many nations, from the U.S. to Sudan to the U.K., are experiencing their highest inflation rates in decades. Prices in the U.K. rose 9.1% in the 12 months ending in May, up from 9% in April and the highest annual rate since 1982. In Africa, Sudan (245.1%), Zimbabwe (86.7%) and Ethiopia (34.5%) have some of the highest current inflation rates anywhere in the world. In Canada, the annual inflation rate rose to 7.7% in May, topping April’s 6.8% for the highest rate since 1983. Venezuela (1198.0%), Lebanon (201.0%) and Syria (139.0%) are among several countries worldwide with current inflation rates above 100%. Citigroup economists released a report on global inflation Wednesday, estimating that "the aggregate probability of recession is now approaching 50 percent."

Global inflation has been more of a focus for left- and center-rated news sources; right-rated outlets focus much more on inflation in the U.S. than in other countries. Reports across the spectrum, particularly on the right, highlight predictions of a global recession and the potential consequences, especially pertaining to food prices and access.

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