Recession Looms , As the Inequality Between , Rich and Poor Grows .<br />People all around the world are experiencing <br />record-high inflation as prices for essentials like <br />food, housing, heating and transport continue to rise.<br />People all around the world are experiencing <br />record-high inflation as prices for essentials like <br />food, housing, heating and transport continue to rise.<br />People with low incomes have been hit <br />the hardest as double-digit inflation has <br />exacerbated inequality all around the world.<br />People with low incomes have been hit <br />the hardest as double-digit inflation has <br />exacerbated inequality all around the world.<br />While high-income consumers can fall back on savings, <br />many others have struggled to make ends meet with a <br />growing number of households dependent on food banks.<br />While high-income consumers can fall back on savings, <br />many others have struggled to make ends meet with a <br />growing number of households dependent on food banks.<br />Despite strikes in sectors from healthcare to aviation, <br />most workers have been forced to settle for wages <br />that continue to fall well below the rising cost of living.<br />Despite strikes in sectors from healthcare to aviation, <br />most workers have been forced to settle for wages <br />that continue to fall well below the rising cost of living.<br />Global inflation has increased <br />poverty and suffering in poorer nations <br />like Haiti, Sudan and Lebanon.<br />Global inflation has increased <br />poverty and suffering in poorer nations <br />like Haiti, Sudan and Lebanon.<br />According to the World Food Program, 70 million <br />people have been driven closer to starvation <br />globally since the beginning of the Ukraine war. .<br />The International Monetary Fund (IMF)<br />predicts that global inflation will have <br />fallen to 4.7% by the end of 2023.<br />However, in October, the IMF's <br />2023 outlook was one of , the bleakest in years. .<br />In short, the worst is yet <br />to come and for many people, <br />2023 will feel like a recession, International Monetary Fund October Outlook, via Reuters
