Hello 2022: You are going to be one expensive year

The Federal Reserve dropped the word 'transitory' from it's inflation outlook as the US central bank forecast 3 rate hikes next year. Inflation is becoming painfully sticky around the world as the world limps back to health battling a new variant.

The Bank of England already raised rates just as IMF warned the nation not be complacent of rising prices and developing nations are now threatened with the after-math of higher rates across the globe in the new year.

Here is the pressures from price rise across the globe -:

• US: Producer price index at record high, retail inflation @ 6.8% = 40 year high
• UK: Inflation at 10 year high @ 5.1%
• China: Factory inflation near 26 year high @ 12.9%
• Russia: Prices at a 6 year high @8.4%
• Germany: Inflation at 30 year high @ 5.2%
• India: CPI @ 3-month high, Wholesale prices at 30 year high

Read/Watch Also: SBI starts the rate hike bandwagon!