The Global Economy

Inflation cools globally, but the cost of living crisis for families persists

Central banks are celebrating victory over inflation, but consumer wallets are still recovering from the permanent price floor established over the last three years.

The Financial Curio · Economy

Central banks across the G7 are declaring the inflation fight largely won, with year-on-year CPI prints converging on their 2% targets. For households, the picture is very different. Prices are no longer rising at the eye-watering pace of 2022, but they have settled at a permanently elevated level — a basket of groceries that cost $100 in 2019 now costs roughly $128. That step-change is now baked in. We walk through the three household line items most likely to need adjustment.