People in different countries of the world suffer from the rising cost of living day by day.

The price of everything is skyrocketing, from the price of sugar, rice, oil, fruits and vegetables in groceries, to the price of heating or cooling our homes and homes.

Not a single country in this world has escaped price hikes, from the big and rich countries like the United States, Britain and the European Union countries to the poor countries of Asia and Africa.

In the United States, for example, consumer prices have risen at a level not seen in America since 1982, and with this massive rise the cost of almost everything, from diapers to food and car prices, as well as transportation and labor costs, makes inflation the buzzword at the moment. CNN reported in a recent report.

In developing and poor countries, it is much worse. A report issued by the World Bank last year stated that more than 100 million people suffer from extreme poverty in emerging markets and developing economies, and the situation has worsened this year with the severe shortage of wheat and food supplies due to the war. Ukrainian Russian.

Everyone suffers, and everyone pays more and more money to get the goods necessary to sustain life.

What exacerbates the matter is that the rise in these prices was not accompanied by a similar rise in salaries and wages, which remained unchanged, suffering as their owners suffer.

Oil reached its highest level in 7 years in the United States, European Union countries and the rest of the world (Shutterstock)

You see, what are the reasons for this crazy rise in prices and the costs of daily life in all parts of the world?

The writers Beth Timmins and Daniel Thomas of the BBC network (BBC) monitored 7 reasons behind this crazy price hike, in an extensive report for them recently, let's get acquainted with them:

Energy price hike

Oil prices fell at the start of the pandemic, but demand has since rebounded, reaching a 7-year high.

Gasoline now costs an average of $5 a gallon in the United States, up from $2.39 a gallon a year ago, and the story is repeated in the European Union and the rest of the world.

Gas prices have also risen, leaving people around the world with central heating bills that have become incredibly high.

Increased demand from Asian countries also led to higher prices, along with a cold winter in Europe last year, which led to the depletion of gas reserves in most European countries.

Severe shortage of goods and merchandise

Consumers who stayed in their homes during the closure period during the pandemic occupied their time by spending on household repairs and daily goods, and tens of millions of workers did not go to factories, most of which were closed, or worked partly during the long closures during the pandemic days, and this led to a shortage of many materials that were These factories produce them, which has led to an increase in the prices of most commodities, from plastic to concrete, iron and steel, and even foodstuffs.

For example, the value of timber increased by 80% in the United Kingdom in 2021 from its value before the pandemic, reaching more than double its usual price in the United States, and major American retailers raised their prices due to higher supply chain costs.

There has also been a severe shortage of "microchips", which are vital components in cars, computers and other household goods, and all this has led to high prices in various countries of the world.

Retailers had to pay a lot of money to get the goods and the freight rate difference is charged to consumers (Al-Jazeera)

Shipping costs

International shipping companies - which transport goods around the world - have been exhausted due to the high demand after the epidemic, and this means that retailers had to pay a lot of money to obtain these goods and deliver them to shops and stores, and of course - as always - this difference was charged in prices Shipping to consumers and ordinary people.

For example, the cost of sending one 40-foot container from Asia to Europe is currently $17,000, which is 10 times higher than it used to be when the cost was only $1,500.

This rise in sea freight costs was accompanied by another similar rise in air freight costs, and the problem was exacerbated by the shortage of truck drivers who would transport these goods from ports and airports to their final resting place in stores to reach consumers.

Rising wages

Many employees and workers have resigned during the pandemic or have been laid off due to long closures, and a large number of them have moved to work in other professions, to name a few, more than 4 million people quit their jobs in the United States during the month of April alone, according to the US Department of Labor, the largest increase in the number of workers quitting ever.

As a result, companies face significant problems in recruiting new employees such as drivers, food processors, and restaurant waiters.

A survey of 50 major US retailers indicated that 94% of them had trouble filling the vacancies they needed.

As a result, companies have to increase salaries and wages or offer financial rewards to attract and retain employees.

For example, McDonald's and Amazon offer bonuses ranging from $200 to $1,000.

These additional costs to the business owner are passed back on to consumers and ordinary people, driving up prices.

Climate change impacts include extreme weather events such as floods and severe wildfires (Getty Images)

Climate change

The extreme weather fluctuations in many parts of the world contributed to the increase in the rate of inflation and the increase in prices.

For example, the global oil supply was hit by Hurricanes Ida and Nicholas, which hit the Gulf of Mexico and severely damaged the US oil infrastructure.

Problems meeting demand for chips were exacerbated by a severe winter storm that shut down major Texas factories last year.

The cost of coffee production in Brazil, the world's largest producer, has also skyrocketed, after production fell in the wake of the country's most severe drought in nearly a century.

customs barriers

The decline in financial revenues due to the pandemic prompted a large number of countries in the world to raise customs to compensate for the shortfall in their budgets, which led to another rise in prices, and some political fluctuations in some countries also contributed to the increase in customs, for example, the United States raised customs on a large number of goods Chinese, which led to higher prices for consumers.

In this context, the Chinese telecom giant Huawei said last year that the sanctions imposed by the United States on the company in 2019 affected American suppliers and global customers.

End of financial support after the pandemic

Governments around the world are backing away from the support they were giving businesses and individuals to mitigate the impact of the coronavirus, as public spending and borrowing around the world have increased during the pandemic.

This led to tax increases that contributed to the pressure on the cost of living, while most people's wages remained unchanged.

In fact, the end of subsidies has increased the burden and costs on families and families around the world.