Money Talks

Soaring fuel and food prices threaten to stunt global growth

Surging inflation is hitting consumers everywhere and the World Bank warns most governments can do nothing to stop it. It says food prices are up by nearly 40% since the beginning of Russia's attack on Ukraine. And energy costs are likely to remain high for months to come. The collective price hike is also taking a toll on consumer spending and the growth of businesses worldwide. As a consequence the World Bank expects global growth to slowdown from its previous estimate of 4.1% to 3.2%. It's also warning of a looming food crisis. For more on this, we were joined by economist Vicky Pryce who's a board member of the Centre for Economics and Business Research. #WorldEconomy #EconomicGrowth #Inflation

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