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G7 finance ministers to discuss inflation at virtual meeting on Monday -Breaking

by Mike Robinson

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© Reuters. FILEPHOTO: Cologne shoppers fill Hohe Strasse, Germany’s main shopping avenue, with masks, 12 December 2020. REUTERS/Wolfgang Rattay/File Photo

WASHINGTON (Reuters] – The Group of Seven wealthy nations has announced that the finance ministers of the Group of Seven will meet virtually on Monday in order to talk about the recent rise in inflation.

Bloomberg News reported that the meeting was the first under Britain’s G7 presidency. Germany will take over the role in the next year.

Agenda items will include inflation and global health as well as climate issues.

As rising demand is compared to clogged supply chain, inflation has surged.

The Labor Department reports that U.S. consumer price indexes saw their largest annual increase since 1982, in November.

According to economists, high inflation is likely to continue well into 2022 as supply issues show little signs of ease and wages rise as companies compete for employees.

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