Why is global inflation persisting in many economies?

Global inflation is like when your piggy bank gets too full, everything you buy costs more.

Imagine you and your friends all have piggy banks where you save coins. One day, everyone decides to spend a lot of coins at the same time. The shops don’t have enough coins to give back, so they raise their prices. That’s like inflation, when things cost more because there's not enough money going around.

Sometimes, people start saving more coins again, but then they decide to spend them all at once. This can happen if a big event, like a storm or a fire, happens in the world of coins. That’s why inflation stays high, there's too much spending and not enough coins to go around.

Also, sometimes when people get more coins from their jobs (like getting extra allowance), they spend them on things that are already expensive. This makes prices even higher. It's like having a big party where everyone brings cookies, but the cookie jar is already almost empty, now all the cookies cost more! Global inflation is like when your piggy bank gets too full, everything you buy costs more.

Imagine you and your friends all have piggy banks where you save coins. One day, everyone decides to spend a lot of coins at the same time. The shops don’t have enough coins to give back, so they raise their prices. That’s like inflation, when things cost more because there's not enough money going around.