The COVID-19 pandemic, the energy transition from hydrocarbons to renewables, and related government interventions are disrupting markets around the world. Major shifts in household spending patterns, working from home, fiscal and monetary stimuli, and industry consolidation are contributing to market imbalances. With demand persistently outpacing disrupted supply, prices are rising to rebalance markets. Thus, the IHS Markit October global forecast is characterized by lower near-term output growth, higher price inflation, and earlier interest rate increases compared with the September forecast. {chart} After a 3.4% ... (full story)