Risks and Factors of COVID-19 Affecting Inflation: A Comprehensive Study

Abstract

As economic activity started showing signs of picking-up in the second year of the pandemic, the worldwide economy confronted the new test of rising worldwide inflation. COVID-19 related improvement spending in significant economies alongside repressed request supporting shopper spending pushed inflation up in many high level and arising economies. The flood in energy, food, non-food wares, and information costs, supply requirements, disturbance of worldwide stockpile chains, and rising cargo costs across the globe stirred up worldwide inflation during the year. Raw petroleum costs additionally saw a rise during the year on the rear of expanded request from recuperating economies and supply limitations by the association of the petrol trading nations and its partners.