What is inflation?  How does it affect us?  BBC News Arabic

What is inflation? How does it affect us? BBC News Arabic

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According to ILO data released last March, the prices of oil and wheat are 50 percent higher than they were a year ago.

Have you noticed that you’ve been spending more money on your supplies lately? Or you may have noticed that you can no longer afford some of the things you could have bought before.

The reason for the price increase that we are observing at the moment is the high rates of inflation. According to the International Labor Organization, the annual inflation rate globally more than doubled during the period from March 2021 to March 2022.

The inflation rate in March 2022 was 9.2 percent, compared to 3.7 percent during the same month last year.

A higher rate of inflation means an increase in the prices of basic goods and services such as food, energy, transportation and clothing, which in turn raises the cost of living.

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