Inflation inequality: Soaring prices weigh on low-income households
By France24
15 May 2022 |
10:55 am
Inflation is at its highest level in decades in many parts of the world. In the US, consumer prices were 8.3 percent higher in April than a year earlier. In the eurozone, they rose by around 7.5 percent. Energy prices have been driving the surge, with Russia's war in Ukraine further fuelling the trend. But higher inflation tends to have a bigger impact on low-income households. Xavier Jaravel from the London School of Economics discusses this and more with FRANCE 24's Kate Moody.
In this article
Related
Related
17 Dec 2022
Recent discussions in Europe about a gas price cap are said to have been tough, heated and even ugly. The European Commission has put a proposal on the table, but EU member states are finding it difficult to reach a compromise among themselves – despite giving their political support to a gas price cap in late October.
29 Dec 2022
A scientist is now producing organic fertilizer in a bid to create a cheaper and more viable alternative to imports.
4 Jan
The consequences of the war in Ukraine are even being felt in Tunisia. In Kairouan, rising food and energy prices mean Najwa Selmi is faced with a tough decision: to buy food or send her children to school.
14 Jan
Gas prices in Europe have fallen to pre-Ukraine invasion levels and it seems we might avoid a full-blown energy crisis this winter. But experts expect a tough winter 2023/24.
15 Feb
The government in Buenos Aires has imposed price caps on many goods to rein in runaway inflation. While the curbs are welcomed among low income locals, economists doubt they will remedy the country's persistent problem.
3 Apr
The oil production cuts will total more than a million barrels per day — the biggest reduction since OPEC slashed two million barrels a day in October.
6 Apr
Supply chain bottlenecks and the war in Ukraine caused inflation to soar. Now, policymakers are pointing to high corporate profits as another driver of increased consumer prices. Will governments intervene?
14 May
Wonuola Akanbi, the Head of Energy and Infrastructure sales, Global Markets at Stanbic IBTC Bank, joins CNBC Africa to discuss the dynamics in the global oil market and how it impacts Nigeria.
26 May
German consumers are looking less concerned when shopping for groceries these days, as prices for food have begun falling slowly. But is peak inflation behind them?
2 Jun
People in Nigeria have been rushing to buy fuel amid soaring prices since the country's new president, Bola Tinubu, announced the end of subsidies. Nigeria's state oil company says it was spending over 800 million dollars each month on the subsidy.
6 Jun
The move to slash supplies by 1 million barrels per day in July is "extendable," said Riyadh. Members of the OPEC+ grouping also agreed to extend cuts previously agreed in April until the end of next year.
7 Jul
In spite of an agreement struck in April to cut production of crude by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, oil prices still haven't seen a boost. In this edition, we see that concerns over global economic growth are outweighing the production cuts. Also, European space rocket Ariane 5 gears up for its final lift-off and Singaporean bank UOB makes a winning bet on Taylor Swift fans.
Latest
1 day ago
Gabriella Bankova went on a hunger strike in the Bulgarian capital to be able to officially change her gender. Activists say the country is lagging when it comes to LGBTQ+ rights.
1 day ago
Users are spending more time online. Among children, social media consumption has skyrocketed compared to pre-pandemic levels. In the US, tech giants are on trial for endangering minors with addictive platforms.
1 day ago
The UN put an end to its political mission in Sudan as demanded by the Khartoum government. Sudan has seen months of conflict between two rival generals.
1 day ago
Though slow, research into treating AIDS has been producing ever more effective drugs.
1 day ago
South Africa is home to Africa's largest Jewish community. The ongoing violence in the Middle East has left its mark, with Jewish citizens now more cautious when they leave their homes.
1 day ago
In this Science segment, we examine a call by more than 20 countries at the COP28 summit for the tripling of world nuclear energy capacity, this in a bid to reach net-zero carbon emissions by 2050.
×

Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.