(MENAFN) Increasing gas costs are a main aspect in high inflation in addition to food costs through Europe, Professor Samir Dani from Keele Business School stated to the Daily Express on Sunday.
The expert cautions of a ‘Catch-22 situation’ in balancing the region’s climate targets and getting down inflation and food costs, which are related, in part, to oil and gas costs.
A ‘Catch-22’ usually come in referring to a paradox in which a answer is denied by the issue itself.
The expert stated that “At the moment, it’s an emergency situation, it’s inflation all over, it’s firing out into all sorts of domino effects through the food supply chain, which is key, because food is the major commodity for everybody."
He also mentioned that “In terms of manufacturing, it can lead to a lot of job [loss] scenarios, it can lead to starvation, and all sorts of things coming through the process ... Energy has become the key domain for the world’s major problems.”
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