DUBAI: A rise in inflation across the world is not being driven by traditional factors, but due to political reasons, said Simon Ballard, chief economist at the First Abu Dhabi Bank, during the ongoing Top CEO forum in Dubai.
According to Ballard, some of the factors that contribute to inflation are the ongoing tensions between Ukraine and Russia, supply chain disruptions and lockdown in China due to the Covid-19 pandemic.
He noted that the increase is a double-edged sword that comes as a derivative driven by excessive demand, adding that ongoing inflation is now significantly pushing the costs of daily life.
