“Central banks are stepping up to control inflation, it’s a priority,” Kristalina Georgieva said.
While food price inflation was already in motion before the pandemic and war, the two events have only added to the issue. Global food prices reached an all-time high between March and April this year, according to the World Bank.
Yet, consumer inflation in the U.S. registered a 40-year high of 9.1% last month, a condition described byWhile much data used to determine inflation has a lag, Georgieva told CNBC that all the signs indicated that inflation has not yet been reined in.
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