IMPACT OF POST-PANDEMIC INFLATION ON GLOBAL POVERTY – A HOLISTIC PERSPECTIVE

The pandemic and its spillovers, besides the Russian-Ukrainian conflict, have reversed earlier gains in global poverty reduction. The threat of having more poverty percentage than even one decade ago is becoming more realistic if one considers the sharp unprecedented inflation that has not been experienced in the last two decades. This inflation is now hitting hard on the poor. The paper investigates how the inspiration based economy could manage and mitigate the probability of the inflation risks on the poor (which is usually easier to control), or reduce the severity of such risk if it happens (which is usually more difficult to control). A framework is proposed to mitigate the impact of hazards of inflation on the poor, regardless of where they are, from a holistic perspective. The holistic perspective in the framework help to raise the poor communities (capacity vs demand) during the inflation times. A comparative table is set to redefine the approaches towards poverty and even disrupt the contemporary poverty alleviation approaches, so that the “probability of the inflation risks” could be minimised. Everyone is invited to address the limitations of the study by implementing live labs that show the best models for tackling such inflation risks. As time passes, more people would fall into the trap of poverty or would feel what it means to a poor.