Describe the factors causing inflation in 1990 and in today’s economy.

According to the Wall Street Journal, U.S. inflation hit a three-decade high in October, delivering widespread and sizable price increases to households for everything from groceries to cars due to persistent supply shortages and strong consumer demand. The Labor Department said the consumer-price index—which measures what consumers pay for goods and services—increased in October by 6.2% from a year ago. That was the fastest 12-month pace since 1990 and the fifth straight month of inflation above 5%.

Describe the factors causing inflation in 1990 and in today’s economy.

Based on your research, what impact does inflation have on global markets?