North America Economy August 13, 2021As the global economy emerges from the worst of the pandemic, strong growth is back—and so is inflation. Higher commodity prices are creating stress in all economies, developed and emerging. Oil prices reached $75 per barrel due to rising demand. Food-price inflation reached its highest level since 2011. In the United States, consumer inflation reached 5% in May. US investors are factoring all this into their expectations. We strive to provide individuals with disabilities equal access to our website. If you would like information about this content we will be happy to work with you. Please email us at: McKinsey_Website_Accessibility@mckinsey.com To read the article, see “Global Economics Intelligence executive summary, June 2021,” July 19, 2021.