Rise in global inflation ‘widespread, persistent’: Fitch

By Ovunc Kutlu

ANKARA (AA) - The rise in inflation has been “persistent and widespread” around the world, and it has shown few signs of having peaked, according to Fitch Ratings.

Consumer price index has increased in almost every country in the last three months, and it now remains above pre-pandemic levels, the rating agency said in a statement on late Monday.

Consumer inflation is also higher than the inflation targets of central banks in most of the major economies, it added.

"High and rising inflation has been an enduring feature of economic recoveries in many major economies, shifting the outlook for monetary policy and contributing to recent increases in bond yields," it said in a statement.

Fitch said producer price inflation also continues to increase, and there are few signs of peaking and beginning of a decline.

The agency, however, noted that recovery in labor markets has been strengthening.