G7 ministers plan consultations on inflation

ANP
Friday, 10 December 2021 18:24

NEW YORK (AP) – The sharp rise in inflation is the reason finance ministers of the rich industrialized nations of the G7 are consulting each other. Sources reported to Bloomberg news agency that a virtual meeting was planned for Monday. Inflation that rose sharply, among other things, undermined consumer purchasing power.

The talks take place at a time when the global economy is experiencing major supply chain problems. Ministers will also talk about health care, the sources said. The G7 consists of France, Italy, Japan, Canada, Germany, the United Kingdom and the United States.

News of the meeting followed shortly after the new inflation rate from the United States. That is the highest level in nearly 40 years. High inflation puts pressure on central banks such as the US Federal Reserve to reduce support programs more quickly and raise interest rates.

Life in the eurozone and the UK has also become more expensive on average. This is mainly due to rising energy prices, labor shortages and supply chain problems.

Learn more about the topic in this post:

Japan, Italy, Germany, United States, Health, Inflation, Federal Reserve, United Kingdom

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