As the war in Ukraine and pandemic disruptions continue to wreak havoc on supply chains, stagflation is here to stay – marked by low growth and high inflation for at least the next 12 months.
The pandemic as well as the war in Ukraine have stifled supply of commodities and goods and upended efficient distribution through global supply chains, forcing up prices of everyday goods such as fuel and food.
A global recession is not imminent, but brace for rising costs and slower growth, economists say.
Commodity prices will start to ease from next quarter but will remain permanently higher than before the war in Ukraine for the simple reason that Russian supplies of many commodities will be permanently reduced.
But, while higher prices will cause pain for households, growth in many parts of the world, while slow, is still ticking over and job markets have not collapsed.
In the US, consumer spending held up well despite decades-high inflation and showed more evidence that they’re dipping into their savings to support purchases. China’s economy remained deep in a slump in May as lockdowns continued to weigh on activity.
Central banks across the globe are tightening up interest rates to combat inflation.
The double crises of Russia’s invasion of Ukraine and China’s new pandemic lockdowns are jolting the world recovery by exacerbating inflation and hurting growth.
The amendment makes QR codes mandatory on every active pharmaceutical ingredient. The Amendment Rules will come into force from January 01, 2023.
On June 22, 2022, the Commission adopted pioneering proposals to restore damaged ecosystems and bring nature back across Europe, from agricultural land and seas, to forests and urban environments. The Commission also proposes to reduce the use and risk of chemical pesticides by 50% by 2030.
According to New York Times, in a small clinical trial, 18 patients took a drug called Dostarlimab for around six months, and in the end, every one of them saw their tumours disappear.
Roche and its subsidiary TIB Molbiol have developed three unique LightMix® Modular Virus kits in response to recent monkeypox virus concerns. Multiple clusters of the monkeypox virus have been reported within the past two weeks in several European countries and North America, which are regions where the virus is not normally found.
The strictest COVID -19 lockdown in China since the pandemic began has resulted in container goods sitting at Shanghai’s port for nearly two weeks.
New anti-counterfeit technology, called a cyber-physical watermark, leverages edible fluorescent silk to identify medications.
The global economy — already struggling with war in Ukraine and the stagflation risks it’s fanning — is bracing for greater disruption as China scrambles to contain its worst outbreak of Covid-19 since the pandemic began.
Oil prices surged past $100 (£74) a barrel to hit their highest level for more than seven years after Russia launched an invasion of Ukraine.
The Russian invasion of Ukraine is already dealing a blow to financial markets and the worldwide economy. Global supply chains and growth had been broadly recovering from the pandemic, but now all that’s in doubt, given the stricter sanctions and other punitive measures against Russia that are in the offing.