Public confidence does not require that everyone believe that everything will always work perfectly. People know that is not the case. Rather the public needs to be confident that the information it is receiving is complete, reliable, and adequate enough for them to take actions appropriate to their own circumstances.
Although slowdown and recession in the AEs and EDEs should moderate oil price substantially, monetary easing by major central banks and geopolitical factors have ensured that the prices do not fall much. The other major commodity price channel which adversely affects the global and domestic prices is that of food.