Dhaka, Sept. 17 -- Since the second quarter of this year, inflation has been on the rise globally, driven by higher energy and food prices, persistent supply chain disruptions and tight labour markets in major developed countries. The US Bureau of Labour Statistics reported last Tuesday (September 13) that the consumer price index (CPI) rose 8.3 per cent in August compared to a year earlier, down from 8.5 per cent in July and 9.1 per cent in June this year-- the highest recorded US inflation rate over the last 40 years.

According to the Guardian (August 4) the UK annual inflation rate could go up to 15 per cent by the start of 2023; more recent estimates put the inflation figure for the UK at 18 per cent or more in 2023. According to Eur...