Inside Story

What’s the way out of the global cost of living crisis?

Many countries are reporting significant increases in the prices of food, housing and fuel.

It is normal for the cost of goods and services to rise steadily over time.

Most economists think it is healthy to have inflation rates at about 2 percent.

But many countries are reporting substantial increases in the prices of food, housing and fuel, in what some observers have called a “cost of living” crisis.

The crisis is being blamed on shortages of workers, supply chain backlogs amid the coronavirus pandemic and Russia’s invasion of Ukraine.

Developing nations are hurting the most.

Is there a way out? And what could happen if inflation remains high?

Presenter: Kim Vinnell

Guests: Jeevun Sandher – Economist and political scientist, King’s College London

Kalyani Raghunathan – Economist and research fellow, International Food Policy Research Institute

Stella Nordhagen – Senior technical specialist, Global Alliance for Improved Nutrition