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Inflation Comes with a Big Gender Gap. Here Are Five Ways to Narrow It.
March 8, 2023
This year’s International Women’s Day is taking place against a backdrop of a worldwide inflation surge. Even though inflation may have peaked, its impact—like the pandemic or most economic, social, or environmental shocks—is not shared equally, with women disproportionately experiencing its effects and women in developing countries faring even worse. Yet there are policies and practices that governments, multilateral institutions, and investors (both public and private) can implement in order to help close the gender gap and improve economic resiliency for women.
Inflation affects women by raising the prices of goods and services they consume. Global inflation climbed to nearly 9 percent in 2022, more than double the pre-pandemic worldwide average of 3.5 percent. Emerging and developing economies saw higher inflation, with some experiencing staggering rates of 25 percent or higher. Soaring food and fuel prices, in particular, have pushed more than seventy million people into poverty worldwide.