Inflation has been a global issue for several decades, affecting both developed and developing countries.

Inflation can lead to various economic and social problems, such as reduced purchasing power, higher interest rates, and reduced economic growth.

Inflation can be caused by several factors, including excessive money supply, rising costs of production, and global economic imbalances.  

When there is too much money in circulation, it leads to an increase in demand for goods and services, which leads to a rise in prices. 

On the other hand, rising costs of production, such as labor and raw materials, can lead to higher prices of goods and services.  

Additionally, global economic imbalances, such as trade deficits and currency fluctuations, can also contribute to inflation.

Inflation is a global issue because it affects economies all over the world. 

Inflation in one country can have spillover effects on other countries through trade and financial channels.