Inflation and economic growth remain leading concerns for businesses and consumers worldwide, and inflation is expected to continue for the foreseeable future. Inflation impacts on business and the public include lower wages, diminished buying capacity, and declining productivity, with some economies already flatlining or experiencing recession. The role of finance in inflation is proving crucial, with finance professionals and management accountants now playing a key role in developing robust business strategies for inflation, mitigating inflation, and advocating for the need to curb inflation and drive economic prosperity.
In the downloadable resource, you will find vital information related to risk management in the banking sector.
‘Inflation has been rising across much of the globe over the last 18 months. In many countries, it’s likely to continue to increase in the short-medium term.
‘Inflation affects businesses and consumers, and its impact is seen across society. Whilst some businesses and sectors of society will have the means to weather the inflation storm, everyone feels the effects of it nonetheless.
‘Businesses and consumers are feeling the effects of rising inflation. In many economies, this has reduced real wages, reduced purchasing power, and contributed to slower growth rates that in some countries have already turned into recessions. For businesses, it also means more uncertainty and means they are revisiting their investment decisions and this, in turn, affects the wider economic growth.’