How inflation is flipping the economic script, in seven charts

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Every morning a new headline underscores growing economic concerns: Highest inflation since the 1970s. Central banks aggressively raising rates. Consumer sentiment at record lows. Commodity prices near all-time highs. Clearly inflation has, at a minimum, altered the economic mood, and potentially reset the path of global and national economies worldwide for years to come. McKinsey’s experts have examined many of the strategic implications of inflation. Here, we use the best and most recent publicly available data to offer seven charts illustrating inflation’s insidious progress.

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Inflation in many countries has more than doubled projections in the past six months.
Central banks worldwide are raising rates.
Real houses prices rose strongly in OECD countries during the pandemic.
Exhibit 5
Exhibit 6

Editor’s note: A previous version of this article contained a map that had reproduced a national boundary based on United Nations mapping. Our reproduction of boundaries and labels shown on such maps does not imply official endorsement or acceptance by McKinsey & Company. We have since edited the map, and regret reproducing the original version.

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