The cost of almost everything from food to fertilisers is soaring, causing consumers to spend less. As governments aim to bring down the cost of living, containing inflation without pushing economies into a slowdown is difficult.
Meanwhile, Russia’s war in Ukraine and pandemic disruptions continue to constrain supply chains, darkening the outlook for the months ahead.
So, should we be ready for a global recession?
Elsewhere, the UK government takes aim at expensive energy bills.
Can the $19bn aid package ease the squeeze on incomes?