Recent economic reports indicate that core inflation in the global economy is on a steady rise. Economic experts and central bank officials expect this upward trend to continue in the near future, leading to further rate hikes.
The rise in core inflation is an indicator of increasing prices for basic goods in the market, leading to decreased purchasing power for consumers and a negative impact on the economy as a whole. Therefore, maintaining low inflation rates is a top priority for central banks.
Among the central banks taking action to combat continued inflation is the European Central Bank, which recently announced rate hikes in the near future. This action aims to maintain price stability and prevent inflation from worsening in Eurozone countries.