Rampant Food And Fuel Inflation Spells Disaster For Emerging Economies ...Middle East

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Rampant Food And Fuel Inflation Spells Disaster For Emerging Economies
source : OILPRICE ( Middle East ) () 39
The United States is currently grappling with elevated commodity prices including high fuel and food prices. Although gasoline prices have fallen off significantly from their $5+ peak, they are still 10.6% higher than a year ago; diesel is 46.5% higher while the cost of food is up 11.4% in the past year, making for the highest annual increase in 23 years. Experts say that inflation in the U.S. might have peaked in the summer and fuel prices will decline another 11% in 2023 but it will still take years for prices to come down from the highs they’ve…

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