As we moved through 2022, it became increasingly clear the inflationary pressures seen in 2020 and 2021 had settled in for an extended stay. Consumers and businesses scrambled to compensate for skyrocketing costs and inflation levels not seen since the early 1980s. Analysts and commentators warned that the “zero inflation” era seen over the previous decade had come to an end. Now, with some signs suggesting that inflationary pressures have somewhat stabilized for many sectors of the market, it’s instructive to examine what’s been driving them.
This is part two of our three-part series – in collaboration with Gen Re – examining inflation and its impact on insurers.
