Global economies are currently undergoing an inflation crisis unlike one seen in recent years. In a recent economic outlook report, the International Monetary Fund (IMF) forecasts that global inflation is set to increase to a record 8.8 per cent in 2022 given the economic effects of the pandemic as well as Russias invasion of Ukraine. In India, the Consumer Price Index (CPI), which is used to measure the countrys inflation went up to 7.41 per cent in September, as opposed to 7 per cent, where it was a month ago.But as the inflation crisis continues to affect global economies at large, its hard to look away from the fact that its repercussions are felt disproportionately by women and girls versus men. This is mainly due to higher inflation for products meant for women compared to those targeted to men. For example, in Britain, womens formal shoes saw a price increase of 75 per cent in 2021, while those for men increased by only 14 per cent. On the other hand, in the US, a recent national survey revealed that men are 33.3 per cent more likely than women to have a salary that can keep up in pace with ongoing inflation rates.While price hikes and inadequate compensation directly affect the financial health of women, the growing gender pay gap plays a major part in how gender plays a role in the repercussions of inflation. AS per ADP Research Institutes report People at Work 2021: A Global Workforce View the pandemic hurt gender-based pay parity even further with only 65 per cent of women receiving a pay rise or bonus for taking on extra responsibilities or new roles as compared to 70 per cent of men. All this despite both men and women being equally likely to take on additional responsibilities or new roles.Image used for representational purposes only.