Inflation is a word that has increased its presence lately in daily analyzes and reports. Predictably, we will continue to hear it in the upcoming months. Struggle to source raw materials, fewer employees for labor, unreliable cold chains, and processing shutdowns are causing a reduction in supply. Along with this, higher consumer demand catalyzes inflation.
According to the last European Market Observatory for Fisheries and Aquaculture Products (EUMOFA), the annual inflation rate in the European Union reached 6.2% in February 2022. Namely, up from 5.6% in January 2022. In 2021 the rate was 1.3%.
Besides, more than 500 economists gathered for a Reuters quarterly survey indicated that 2022 will bring with it higher inflation. The survey also showed that global growth forecasts will be reduced to 4.3% growth in 2022. Down from the 4.5% predicted in October, due to higher interest rates and higher costs of living.