Supply restrictions will last at least until 2023

Read Time:1 Minute, 48 Second


Maurice Levy of Publicis said that the supply chain pressures hitting the global economy may last for at least a year.

Levy, chairman of the board of advertising giant Publicis Group, told CNBC’s Karen Tso at the Women’s Forum on Friday that rising inflation is the result of scarcity in the supply chain.

“This is also the fact that we are turning to green energy. We are turning to a green world. It is difficult for us to reach the level of the old world with this new energy,” he added.

“This causes prices to rise and affects the purchasing power of customers.”

Economies around the world are facing shortages of goods and labor, and European natural gas prices have soared to record highs in recent months due to increased demand, extreme weather and low inventories.

Levi stated that he believes the current inflation and supply problems reflect a transition period and is expected to “return to normal in 2023.” [or] 2024. “

“I don’t believe this is the right approach [to raise interest rates right now],” he told CNBC, and acknowledged that many market observers are questioning how to control inflation.

The world is witnessing a surge in inflation.

The U.S. consumer price index rose 6.2% year-on-year in October, the largest increase in more than 30 years.

Wednesday, November 3, 2021, at the Port of Charleston in Charleston, South Carolina, USA.

Sam Wolfe | Bloomberg | Getty Images

On the other side of the Atlantic, the Eurozone’s October inflation increased by 4.1% year-on-year, more than double the European Central Bank’s target. In the UK, the CPI rose 4.2% in the 12 months to October, up from 3.1% in the previous month.

Wharton Finance Professor Jeremy Siegel told CNBC last week that there is “another bad inflation report” for the market distance correction.

At the same time, Mohamed El-Erian, Allianz’s chief economic adviser, told CNBC’s Dan Murphy earlier this month that the Fed is losing credibility in its stance on inflation.


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