Compounding inflation is a global crisis: Since January 2021, the UK gas experienced the largest surge in prices among major economies, at +28.2%. The US saw cumulative inflation of +23.8%, followed by the Euro Area at +23.1% and Germany at +21.2%. France’s cumulative inflation reached +15.1%, while Japan recorded +12.4% over the same period. On the other hand, China saw only a +2.8% cumulative CPI increase, as the country has been struggling with weak domestic demand and a real estate downturn. Put simply, consumers in major economies have lost 21% to 28% of their purchasing power since January 2021. Own assets or be left behind.(The Kobeissi Letter)