Jose Sanchez
Research expert covering society, economy, & politics for Latin America
Global price indices - statistics & facts
Prices and consumer prices received increased attention through 2022 and 2023 after inflation rates soared around the world following the COVID-19 pandemic and the Russian invasion of Ukraine. The pandemic disrupted supply chains around the world and it took months for these to re-establish when demand started to increase again. Furthermore, the no-covid policy of the world's largest exporter China meant that production was shut down for weeks, further spurring the inflation. When Russia's President Vladimir Putin decided to invade Ukraine in February 2022, this caused food and especially electricity and gas prices to increase sharply. What are the major price indices people and experts alike look at to observe price changes?
