Food and energy prices are rising around the world meaning millions now face tough choices in their daily lives. Economists blame a combination of Covid, poor harvests and the war in Ukraine.
Now central banks are putting up interest rates to try to control the crisis.
0:00 – Introduction
0:25 – Story
1:07 – Headline 1: The Guardian – Fight against inflation raises spectre of global inflation
2:33 – Headline 2: CITY A.M. – Inflation and recession concoction sends global markets into the mire
3:45 – Headline 3: The Indian Express – Partha Sen writes: The inflation tightrope
5:03 – Language summary
Key words and phrases
the spectre of (something)
the possibility of something bad happening
* The spectre of another pandemic is very worrying.
* The spectre of nuclear war is back.
into the mire
into a difficult situation
* The scandal dragged the minister into the mire
* The company was mired in controversy
situation in which a small mistake can have a dangerous result
* It’s a tightrope. If we get this wrong, the company will collapse.
* You have to walk a tightrope when you plan a wedding.
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