The past years have been difficult. We have had to face an unprecedented situation brought about by a pandemic which ravaged through the globe. This situation dominated the better part of our lives for two years, impacting economies, livelihoods and mental health. Following a tough couple of months which brought about uncertainty, there seems to be hope, as vaccines were made available and immunity is drastically increasing.
The light at the end of the tunnel
After some difficult months with several restrictions that changed the world, increasing immunity through vaccines and infections enabled a slow return to a closer normality. Today, people can still enjoy going out, mingling and travelling, albeit with a few restrictions in place. In view of the lower mortality rates and weaker variants, the end of the pandemic is being anticipated sometime throughout the current year.
The inflation crisis
The issues being faced are not just those pertaining to health. As the pandemic subsides and operations resume towards a closer sense of normality, there is the issue of worldwide inflation where numerous things are becoming more expensive. Supply chain and shipping have become much more expensive, impacting most consumer goods that are required. Such include food products, commodities and other items that need to be shipped from one country to another. This is creating struggles for those who were making ends meet prior to the pandemic. Globally, inflation has impacted energy and utility bills, making it difficult to sustain a certain quality of life. In the UK, bank interest rates have increased in view of the inflation crisis, making things difficult for those who require loans.
A few weeks ago, the invasion of Ukraine by Russia hit headlines. Although tensions were mounting, many were hoping that the military conflict would be avoided. This conflict has led to further economic pressures as sanctions have been imposed on Russia. In view of the fact that Russia is a major provider for the rest of the world, inflation is expected to continue surging as the United States and other European Union countries are cutting it out from the economic system. Time will tell about the full ramifications of this Russian invasion, however if prolonged the consequences may be devastating.
What do you make about this run of crises? Are you longing for some normality around the world? Let us know your thoughts in the comments section below.