Supply chains: The Omicron variant is a ‘key uncertainty going into 2022,’ economist says

In This Story: Inflation

In economics, inflation refers to a general progressive increase in prices of goods and services in an economy. When the general price level rises, each unit of currency buys fewer goods and services; consequently, inflation corresponds to a reduction in the purchasing power of money.

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In This Story: Omicron

The Omicron variant of Covid-19 (also known as B.1.1.529) has been declared a Variant of Concern.

The Technical Advisory Group on SARS-CoV-2 Virus Evolution (TAG-VE) is an independent group of experts that periodically monitors and evaluates the evolution of SARS-CoV-2 and assesses if specific mutations and combinations of mutations alter the behaviour of the virus. The TAG-VE was convened on 26 November 2021 to assess the SARS-CoV-2 variant: B.1.1.529 – which is known as Omicron – the group declared the variant a Variant of Concern.

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In This Story: supply chain

In commerce, a supply chain is a system of organizations, people, activities, information, and resources involved in supplying a product or service to a consumer.

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