European Inflation Update: Impacts On Your Supply Chain

Sky-high energy and natural gas prices due to the Russia and Ukraine war have caused inflation rates to hit a new all-time high in Europe. The average inflation rate across Europe is between 15-16%, which has slowed down economic growth as a looming recession emerges. The European Central Bank has no choice but to aggressively raise interest rates with the Euro continuing to decline in the stock markets. The supply chains are under severe pressure as European fertilizer, paper, glass, metal manufacturing, and more are closing their doors or have already shut down operations.