It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
World Bank says biggest commodity shock since 1970s raises spectre of stagflation
Tue 26 Apr 2022 11.43 EDT
The war in Ukraine will result in expensive food and energy for the next three years, the World Bank has warned, intensifying fears that the global economy is heading for a rerun of the weak growth and high inflation of the 1970s.
In a gloomy analysis, the Washington-based development organization said there was a risk that persistently high commodity costs lasting until the end of 2024 would lead to stagflation – sluggish activity combined with strong cost of living pressures.
The Bank’s latest commodity markets outlook said that over the past two years the world had seen the biggest increase in energy prices since the 1973 oil crisis and the biggest jump in food and fertiliser prices since 2008. While the costs of energy and food were likely to retreat from their current levels, they were forecast still to be above the average for the past five years at the end of 2024.
originally posted by: vonclod
originally posted by: vNex92
a reply to: putnam6
It depends how long the war hawks want to see this conflict last.
You mean Russia, ya hopefully they do the right thing..but they won't.