War time inflation
Suddenly grain producers all over the world don’t have to compete with cheap Rus/Ukr grain, so prices go up Cheap source of oil disappears, so oil producers charge more or even reduce output. So transporting everything goes up. Cheap gas disappears from Europe, so everything associated with Europe increases in price. Suddenly the world seems less safe, so counties divert funds from infrastructure and such like, and divert it to defence. So there are less funds floating around in a country's economy. Then there are the businesses that just hike the price of something cause they can blame it on inflation. Post covid economies in immunised countries were actually looking pretty good before the war. China's refusal to immunise has caused its economy to slow, thus there is less competition with the rest of the world. Decrease in competition has caused inflation.
