Economics
G-7 Finance Chiefs Vow to Avert Future Supply-Chain Problems
- Cooperation key to avoiding a repeat of inflation pressure
- Britain hands over G-7 presidency to Germany on Jan. 1
This article is for subscribers only.
The finance ministers of the Group of Seven major economies pledged greater cooperation to fix global supply chain issues that have caused shortages and led to a surge in inflation.
Consumer prices are soaring across the world due to supply disruptions brought on by shipping problems, shortages of manufactured components and higher energy prices caused by the pandemic. In the U.S., inflation has hit its highest level since 1982; it’s at a record 4.9% in the euro area.