Why has global inflation been so persistent recently?

Global inflation has been like a stubborn cookie that won’t come out of the oven, it just keeps getting bigger and hotter!

Inflation is when prices go up. Imagine you have a piggy bank with 10 dollars, and your favorite candy costs $1. But then, suddenly, that same candy costs $2. That’s inflation, your money doesn’t buy as much as it used to.

A few years ago, something big happened: central banks (like the ones who control the money in your country) gave out extra money, like giving everyone at the party more balloons. At first, this made prices go up, it was like the candy got more expensive.

But then came another twist: supply chains got stuck, like a game of telephone where messages get mixed up. The stuff we need to make things (like toys or clothes) didn’t arrive on time, and that made everything cost more, it was like the candy shop ran out of candy, so everyone had to pay extra.

Now, even though people are trying to use less money, prices still won’t come down, it’s like a party where no one wants to leave!