Why is inflation still high globally in 2024?

Inflation is still high because prices keep going up, and people are spending a lot more than they used to.

Imagine you have a jar of cookies that you share with your friends every day. At first, there were plenty of cookies for everyone. But now, the jar has fewer cookies, and more friends want some too. So, each friend gets fewer cookies, it's like inflation.

This is similar to what’s happening around the world. After a big event (like a party where everyone got extra cookies), people are still spending like they're at the party, but there aren’t as many cookies (or money) going around anymore. That makes everything cost more, just like when you have fewer cookies to share.

Even though things cost more, people are still happy and spending a lot, kind of like how you keep eating cookies even if the jar is getting smaller. This extra spending keeps prices high, making inflation stay strong in 2024.