In this moment the world’s biggest challenge is energy crisis which started at the end of the previous year. On top of it world is still facing with one of the highest natural and social risks – Covid 19 and huge logistic problems connected with it. As a consequence, all major financial institutions across the globe cut their forecasted statistics, stagflation is already a reality and there is highly realistic scenario of the upcoming recession in the coming year. The scope of the conference is to analyze the impact of stagflation due to many severe factors on different spheres of economy (financial markets, macro-economies, industries, service sectors, etc.). A priority is given to papers with the analysis of quantitative data, but also welcome are studies with theoretical discussions.