Our economy change drastically and very tangible of the eyed of everyone.
Drastically? No!
For some countries maybe but here in Europe there is no such thing as drastic, a 10% at a maximum change in prices due to the problems in logistics and restarting chains that will soon go down as the euphoria from returning to normal and spending goes down is nothing drastic. We went through this with far fewer "causalities" than in 2017 and we're already far above those in terms of purchasing power and diminishing poverty.
More people suffer that can not afford to buy due of high demand of the prices the situation of the poor status it's getting vulnerable so it is really hard when we're in point of the high inflation more risk we can experience.
Time will fix this one, it's not caused by fundamental flaws, it's caused by a disruption in trade, manufacturing, workforce availability, and not in the last place the skepticism of a lot of business owners who thought the economy will not recover that fast and haven't been ready for the restart, the opening of the economy catching them with no workers, no stockpiles, no contracts.
It's a free economy, if oil goes up too many previous wells that were shut down as they were not profitable will come back online, if we have a higher demand and higher price for basic food it will take longer, one year when it comes to crops and 2-3 when it comes to meat but it will again come down when there are insane profits to be made, more capacity will be added and the ratio of demand and offer will adjust. And it's impossible to have a constant growth at such level in demand as we had after the end of quarantine in the Western world.
Cheer up, the future ain't that bleak, we've seen far worse!
There are not many decent countries, that raise salaries in accordance with the increase in prices. I think the majority still suffer from huge losses at times like this, because the prices are rising, while the salary stays the same, or grows not proportially to how the prices grow.
Countries do not raise wages on their own.
And if you think of the minimum wage, Germany didn't have one till 2015, and they did pretty well without it.