Global Economy: Ripple Effects

Global supply chains collapsed during the pandemic. Its ripple effects still hit your

wallet today. Asian factories shut down. UK businesses lacked vital parts,

causing soaring prices: cost push inflation. Brexit added trade barriers. Imports became pricier

and exports slowed down significantly. Unemployment spiked, but then severe labour shortages appeared.

Businesses desperate for staff. Bank of England raised rates to cool inflation.

Higher borrowing costs mean less spending. We're on a tightrope: control inflation,

avoid recession. How resilient are our systems? Consider your spending habits.

How have these changes affected what you buy and pay?