In places like South Africa they've seen a slight dip in inflation, though some reports suggest that they will be seeing core inflation increase at the fastest pace in about 6 years. This is allegedly due to a rise in health insurance premiums. Experts have also warned consumers not to be worried about it, though consumers have been struggling for quite some time now at the grocery store and with affording other basic daily needs due to inflation increasing the cost of living.
With inflation still a problem does that mean interest rates are going to stick around for longer? Does anyone truly expect grocery store prices to take a significant dip and ever come down?
Inflation hasn't been good for those living paycheck to paycheck and struggling with household food insecurity. This pushes more to turn to social groups like charities that can help to fill the void and they are feeling the pressure from that increased demand.
Countries around the world are dealing with inflation pressure in the market. Some are much worse than others. In the G20 it has been reported that Turkey and Argentina are allegedly going to see the highest inflation in 2023. Several countries are still seeing record levels of inflation with the real risk that recession could come about for many.
According to experts like Carl Icahn, it has been suggested that the system is essentially breaking down, for a variety of reasons, and that there is a big problem that cannot be ignored in the economy today.
Some surveys have suggested that right now voters aren't widely optimistic on the ability of the Fed to control the problem, despite that pessimism though they continue to try to forge ahead with their rate hikes. Will we see another soon? Will we see more protests going on around the world as millions continue to struggle just to survive?
Pics:
pixabay
This is not financial advice
Sources:
CGTN
WION
