Global Consumers , Facing Higher Prices , as Omicron Threatens Economic Recovery.<br />ABC reports that nations across the world are facing rising consumer prices that are the result of high energy costs and supply chain disruptions. .<br />Households and businesses worldwide <br />are feeling the effect of higher prices. .<br />Inflation has driven the price of food, gas and other products higher around the world, and in developing countries the result has been especially dire. .<br />Inflation has driven the price of food, gas and other products higher around the world, and in developing countries the result has been especially dire. .<br />According to ABC, as nations close their borders<br />due to the omicron variant, the global <br />economic recovery may be threatened. .<br />A new round of infections could further aggravate supply chains, putting even more upward pressure on inflation, Rubeela Farooqi, chief U.S. economist at <br />High Frequency Economics, via ABC.<br />According to ABC, the emergence of omicron <br />has given rise to fear that factories, ports and <br />freight yards may be forced to close. .<br />According to ABC, the emergence of omicron <br />has given rise to fear that factories, ports and <br />freight yards may be forced to close. .<br />This additional strain on global commerce <br />threatens to drive prices even higher. .<br />The International Monetary Fund <br />predicts that consumer prices across <br />the world could rise 4.3% this year.<br />This rise in prices has been most pronounced in the developing countries of central and Eastern Europe, where annual rates have skyrocketed. .<br />This rise in prices has been most pronounced in the developing countries of central and Eastern Europe, where annual rates have skyrocketed. .<br />Lithuania saw an 8.2% increase in annual rates, while in Poland, one of Europe's fastest-growing economies, inflation has reached a twenty-year-high of 6.4%.<br />Lithuania saw an 8.2% increase in annual rates, while in Poland, one of Europe's fastest-growing economies, inflation has reached a twenty-year-high of 6.4%
