International Environment: Inflation and Middle East Conflict

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Questions and Answers

Is high inflation the key challenge facing most central banks according to the text?

True (A)

Has core inflation eased in year-ended terms according to the text?

True (A)

Is conflict in the Middle East mentioned as a potential upside risk to inflation in the text?

True (A)

Is the post-pandemic recovery in the services sector mentioned as less likely to continue to drive economic growth in the period ahead?

<p>True (A)</p> Signup and view all the answers

Is growth in Europe mentioned to have slowed more clearly in the text?

<p>True (A)</p> Signup and view all the answers

Higher fuel prices have driven up headline inflation rates in many economies in recent months, but progress in core inflation has been gradual, largely because strength in core services inflation has been ______

<p>persistent</p> Signup and view all the answers

The conflict in the Middle East presents a potential upside risk to inflation if it were to disrupt ______ supply in the region

<p>energy</p> Signup and view all the answers

Separately, the El Niño weather pattern may also push up food price ______

<p>inflation</p> Signup and view all the answers

Economic activity has held up better than generally expected in a number of advanced economies, particularly in the ______

<p>United States</p> Signup and view all the answers

The post-pandemic recovery in the services sector is now well advanced and so less likely to continue to drive economic growth in the ______ ahead

<p>period</p> Signup and view all the answers

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Study Notes

Inflation Challenges

  • Higher fuel prices have driven up headline inflation rates in many economies in recent months.
  • Progress in core inflation has been gradual, largely due to strength in core services inflation.

Risks to Inflation

  • The conflict in the Middle East presents a potential upside risk to inflation if it were to disrupt oil supply in the region.
  • The El Niño weather pattern may also push up food price inflation.

Economic Activity

  • Economic activity has held up better than generally expected in a number of advanced economies, particularly in the services sector.
  • The post-pandemic recovery in the services sector is now well advanced and so less likely to continue to drive economic growth in the period ahead.

Regional Economic Performance

  • Growth in Europe has slowed more clearly.

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