Price hike of essentials: According to a report of the Consumers Association of Bangladesh (CAB), middle-income people have suffered the most throughout 2022 as the average annual inflation rate was 11.08 percent in Dhaka city that year.
Central banks’ unwavering determination to increase interest rates is truly remarkable. In the name of taming inflation, they have deliberately set themselves on a path to cause a recession – or to worsen it if it comes anyway. Moreover, they openly acknowledge the pain their policies will cause, even if they don’t emphasise that it is the poor and marginalised who will bear
Dread and anxiety over the possibility of a global recession are rising around the world right now. Russia’s invasion of Ukraine in February this year worsened pre-existing supply-side challenges and the volatility in commodity markets caused by the pandemic. The world economy is experiencing a steep downfall with a disrupted supply chain and high inflation due to the twofold