Inflation is the rise in prices for goods and services due to factors like increased demand, decreased supply, and an increase in money supply.
COVID-19 pandemic disrupted global supply chains, increasing production and transportation costs.
Economists suggest that corporate greed is causing rising prices, as companies exploit the current economic situation to boost profits.
The worldwide cost of living has risen dramatically, hurting low-income households and those already struggling to make ends meet disproportionately.
Moreover, global governments are addressing growing prices, but prices are expected to remain high for some time.