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That's right. After the 2008 crisis, inflation settled around 2% for many years. There was annual economic growth which left inflation without effect.

The lockdown measures during spring 2020, the frequent mandatory quarantines with staff outages hit the global economy hard. There were many delays on deliveries, manufacturers were unable to manufacture due to shortage of raw materials, many companies faced financial and operational problems, the market of supply and demand was severely disrupted, prices started rising, there was negative growth. Inflation was then already going through the roof.

After in the invasion of Ukraine, both Europe and the United States imposed heavy sanctions on Russia that had no effect on the Russian economy. On the contrary, the value of the ruble rose, the BRIC nations united. Even more nations have joined BRIC and traded like never before. Europe and the US have shot themselves heavily in their own foot at the expense of the people who have to bear all the consequences. Inflation rose to 10% and at one point even 12%. That inflation recently dropped back to 9.2% is nothing to be proud of. Inflation has been caused by a series of nonsensical measures by those in charge.

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