Almost daily, we hear news about a global slowdown and how the war in Ukraine is driving up prices at a pace not seen in decades.

According to the UN trade and development agency, UNCTAD, other forces are also fueling inflation, including supply disruptions triggered by the COVID-19 pandemic and severe weather that has decimated harvests.

In its latest podcast, the Geneva-based agency talks about inflation with economist Jeronim Capaldo of UNCTAD’s globalization and development strategies division.

Mr. Capaldo says developing countries, where people already spend much of their money on the basic necessities of life, are the ones who suffer most as prices soar.