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Then came the big one: inflation. After years of low inflation, prices started to climb rapidly in many countries. This was driven by a combination of factors, including increased demand as economies reopened, supply chain bottlenecks, and massive amounts of government stimulus pumped into the economy during the pandemic. Central banks, like the Federal Reserve in the US and the European Central Bank, started to raise interest rates to try and cool things down, but this also raised fears of slowing down economic growth too much.
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