Over the previous days, we had an opportunity to see that in the international environment inflation continued up in October, as well. However, most central banks, including the Federal Reserve System and the European Central Bank, and also the majority of international financial institutions, agree that factors behind inflation growth are still assessed as temporary.
Also, a common feature of all projections is that the expected level at which inflation will peak and then turn down is higher than previously anticipated. The main reason for this is the continued rise in global energy prices, notably oil, though this time the price of natural gas and electricity are also a factor, as they have climbed to record high levels.