Rising inflation has placed the global economy in limbo. With 57% of the global population projected to live in cities in 2022, the rising cost of living is anticipated to put urban consumers in a precarious position, especially in low-income cities where a high share of consumer budgets is devoted to essentials such as food and non-alcoholic beverages and housing.
Rising prices affect all aspects of the economy and shape market confidence. Inflation can be a positive sign of economic growth or a negative indicator of an overheated market. Therefore, tracking inflation leads to better understanding of the economic backdrop of business and consumer markets and to better decision-making.
Cities in emerging and developing countries have been the engines of economic growth over the last two decades. Nonetheless, high debt levels, rising inflation and other risks could upend economic growth and slow income expansion in emerging and developing cities.
The Global Food Security & Sustainability Summit, organised by The Pinnacle Group International, is one of the most important events held in Singapore to address the critical issues of food security. On 30 June 2022, Euromonitor International participated in a panel discussion titled “Understanding Novel Foods, The Benefits and Risks and What It Means to Move from Animal Food Protein to Plant-Based Protein”.
New construction projects are expected to rely more on wood products amid growing interest in construction from mass timber. As wood requires less energy to process compared to other materials such as steel or concrete, it is also increasingly viewed as a renewable, low-carbon and energy-efficient option for buildings.