Food, gas prices pinch families as inflation surges globally

From appliance stores in the United States to food markets in Hungary and gas stations in Poland, rising consumer prices fueled by high energy costs and supply chain disruptions are putting a pinch on households and businesses worldwide.

As economies recover from lockdowns caused by the COVID-19 pandemic, increased consumer demand has helped lead to rising inflation.

Countries in central and Eastern Europe, like Poland and Hungary, are among those feeling the rise in prices most acutely.

Their weakening currencies and import-oriented economies make them particularly vulnerable to price hikes, and inflation rates there are among the highest in Europe.