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MEXICO CITY, Mexico (AFP) — The leaders of 11 Latin American nations, including its two biggest economies, Brazil and Mexico, announced on Wednesday a plan to work together to address rampant inflation. The initiative was unveiled after a virtual meeting convened by Mexican President Andres Manuel Lopez Obrador. He said the aim was to give people access to “food and basic products at better prices” through steps such as removing import tariffs and other trade […]
Alexandria, United States | AFP | Sunday 4/2/2023 by Beiyi SEOW For nearly eight years, driving for a ride-hailing platform and making deliveries helped Laine Carolyn pay her bills — but a sudden deterioration in health forced her to stop work and fall behind on rent. Carolyn, 32, is among an increased number of US tenants confronting eviction risks in the face of high inflation, elevated rents and with the end of pandemic-era aid. […]
TOKYO, Japan (AFP) — Japan’s consumer prices rose 3.1 percent in February from a year earlier, government data showed Friday, slowing from the four-decade highs seen in previous months. The figure, which excludes volatile fresh food, met market expectations and comes after the government introduced relief measures for soaring energy bills. It is the first deceleration in over a year and marks a drop from January, when consumer prices jumped 4.2 percent on-year — the […]
Stockholm, Sweden | AFP | by Viken KANTARCI It’s not yet 6 am and dozens of homeless people are already queuing outside Stockholm’s central station for breakfast, their numbers bigger than ever, charities say. Hit by the highest inflation in more than 30 years and poised for recession, Sweden’s visible signs of poverty are mounting amid rising inequality. “So many people are coming here to breakfast,” said Kavian Ferdowsi who runs a charity helping […]
Inflation in Argentina came in at 102.5 percent in the 12 months to February, exceeding the symbolic triple-digit mark and reaching a new 32-year high. Latin America’s third largest economy saw inflation grow 6.6 percent in the month of February and 13.1 percent since the beginning of the year, the Indec national statistics institute said. Argentina has one of the highest inflation rates in the world. In 2022, it reached 94.8 percent, the country’s highest […]
Ottawa, Canada | AFP | Tuesday 2/21/2023 Canadians paid 5.9 percent more for goods and services in January than a year earlier, as costs continued sliding from last year’s high, the government statistical agency said Tuesday. Prices for cellular services and passenger vehicles led the deceleration, according to Statistics Canada, while mortgage costs and food prices continued to rise. The inflation rate beat analyst expectations, after ending 2022 at 6.3 percent. The surprise lower rate […]
by Eduardo DE MIGUEL Agence France Presse Buenos Aires, Argentina (AFP) — Like a veritable undercover agent, Monica Schenone tries to pass unnoticed through the aisles of a supermarket in Buenos Aires, sneaking photographs of price tags. The 52-year-old homemaker is part of a group of ordinary Argentines who volunteer their time to police stores’ adherence to price limits suggested by the government to curtail spiraling inflation. She feels “like James Bond,” Schenone says, as […]
Washington, United States | AFP | US consumer inflation cooled slightly in January but the figure remains markedly above policymakers’ target, boosted by rent and energy costs, Labor Department data showed on Tuesday. The consumer price index (CPI), a key gauge of inflation, has come down from a blistering 9.1 percent peak last June while the central bank embarked on an aggressive campaign to rein in soaring prices. As households were squeezed by decades-high inflation, […]
Half a million workers went on strike in Britain on Wednesday, calling for higher wages in the largest such walkout in over a decade, closing schools and severely disrupting transport. As Europe battles a cost-of-living crisis, Britain’s umbrella labour organisation the Trades Union Congress (TUC) called it the “biggest day of strike action since 2011”. The latest strikes come a day after more than 1.27 million took to the streets in France, increasing pressure on […]
Berlin, Germany (AFP) The eurozone will experience “very strong” growth in wages in the next months as salaries catch up with galloping inflation, the European Central Bank predicted on Monday. “Wage growth over the next few quarters is expected to be very strong compared with historical patterns”, the ECB wrote in its monthly bulletin. The authors forecasted “some catch-up between wages and high rates of inflation” experienced since 2021, in the wake of the Covid-19 pandemic. […]
TOKYO, Japan (AFP) — Prices in Japan rose at their fastest pace since 1981 in November, data showed Friday, fuelled in part by higher energy costs. Core consumer prices, which exclude volatile fresh food costs, climbed 3.7 percent last month, compared to a year earlier, data released by the internal affairs ministry showed. Prices jumped most for processed food items but were also higher for electricity and durable goods like air conditioners. Rises in […]
FORT WORTH, United States (AFP) — A recession in the US is “not inevitable,” Treasury Secretary Janet Yellen said Thursday, adding that she believes the world’s biggest economy is on the right track in lowering inflation. Her comments come on the heels of a forceful campaign by the US central bank to cool demand this year, walking a tightrope between lowering consumer costs while trying not to tip the economy into a downturn. For now, […]
