Below is a chart and excerpt from today's Early Look written by Macro analyst Ryan Ricci.
The Chart of the Day is a global map with each date listed as the last time each country had inflation as high as it is today. Averaging all these numbers gives a world average of 1999 as the last time inflation was this high globally. Doing the same exercise only for PPI yields all-time highs across the map.
We highlighted in my last Early Look and on The Macro show, but not only is inflation at levels last seen since (fill in the blank) for these countries but their currencies are also being devalued vs the dollar (+13% YTD) which only decreases purchasing power further.