Global Inflation Pressures Rise
Australia faces prolonged growth slump while Iran inflation surges to 88.6 percent and Maldives prices rise due to Middle East conflict.
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- ALERTAustralia faces longest growth slump since 1990s recession, Deloitte warns
Structural headwinds and weak wage growth set the stage for a prolonged economic grind, raising questions about Reserve Bank policy options.
- MARKETAustralia faces longest stretch of weak growth since 1990s recession
Deloitte Access Economics warns of a prolonged economic grind driven by rising unemployment and stagnant wages, casting doubt on near-term recovery prospects.
- DATAIran inflation hits 88.6% as rial slides and Gulf tensions escalate
Escalating military friction in the Persian Gulf is driving the Iranian rial to record lows, fueling a cost-of-living crisis that is disproportionately impacting low-income households.
- EVENTWorld Bank forecasts Maldives inflation to hit 6% as Middle East conflict drives import costs
The small island nation’s heavy reliance on imports leaves it acutely exposed to global supply shocks, with geopolitical tensions in the Middle East pushing prices higher.
- STATEMENTThe World Bank
“The Maldivian economy's dependence on imports means that price shocks translate quickly into welfare losses: a 10 percent increase in food prices alone would raise the poverty rate by 1.6 percentage points,”
in: World Bank forecasts Maldives inflation to hit 6% as Middle East confl