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An analysis of the effects of globalisation on inflation is presented with the attempt to understand if global factors are still relevant for inflation. The prices are moving ever upwards but what is the role of globalization in this process? Is it really possible to talk about de-globalisation to solve the most difficult economic challenge? After a brief overview of all the change factors of the macroeconomic environment (such as uncertain volatility, ecological and digital transition, war conflict, sanctions, lockdown in China), the measures of the level of globalisation and the global factors influencing prices will be presented. The aim is to better understand why globalisation should be a channel of inflation or deflation. The results suggest that globalisation may not have a major role on inflation but other facts can be at stake.

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