For approximately 40 years leading up to 2021, most high-income economies experienced very low and stable annual price increases. Given this historical context, which statement best evaluates the most significant societal challenge posed by the subsequent global surge in inflation?
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For approximately 40 years leading up to 2021, most high-income economies experienced very low and stable annual price increases. Given this historical context, which statement best evaluates the most significant societal challenge posed by the subsequent global surge in inflation?
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The global inflation surge that began after 2020 was less disruptive for households and businesses in high-income economies than might have been expected, because decades of economic stability had allowed them to develop robust strategies for managing rising prices.