Global inflation expected to grow by 1.5% due to Russia-Ukraine conflict

Global inflation is expected to grow by 1.5% in 2022 as it is driven by the Ukrainian-Russian conflict, which increased the shipping costs.
The cost of shipping a container on the world’s transoceanic trade routes increased seven-fold in the 18 months following March 2020 due to the pandemic crisis and the impact of these higher costs is will increase by the end of this year, and the ongoing Ukraine and Russia war will worsen the situation.
High shipping costs affect inflation in some countries that import more of what they consume experience larger increases in inflation, as do those who are more integrated into global supply chains.
Egypt’s annual headline inflation soared in February to 10%, up from the 8% registered in January, which exceeded the inflation ceiling set by the Central Bank of Egypt (CBE) at 7% by the end of 2022.

Previous Next