Global inflation rates over the past year have been higher than they have been since 2012; similarly, inflation percentages in the United States (US), the United Kingdom (UK), and the European Union (EU) since the start of the second quarter have been staggering. In the US, the UK, and the EU, the primary driver of the recent Consumer Price Index (CPI) elevation, in the US, and the Harmonized Index of Consumer Prices (HICP) in Europe, is the rising cost of energy and consumer commodities. The rising cost of consumer commodities, especially food, housing, and petroleum products has struck the world into a tumultuous spiral, causing the cost of living to rise to a level not seen since the 1980s, resulting in the global experience of all three types of inflation. Typically, only one form of inflation is seen; however, this reversion to a 1980s economy is the result of many factors and is relatively uncommon. This spiral has fueled riots and protests across Europe, causing protestors and legislators alike to demand monetary reform.
