The last time prices rose faster was for West Germany in 1981. More than any other factor, increasing energy prices, exacerbated by Russia's invasion of Ukraine, are fueling inflation.

Amazon records its first quarterly loss since 2015 as online sales drop, while Apple warns of an $8 billion hit from the war in Ukraine and Covid-19 lockdowns in China. Also, French growth hits zero as consumer spending falls, and the IMF warns of dangers for the economies of sub-Saharan Africa.

The Fed raises interest rates by the most in over 20 years The Federal Reserve raised interest rates by half a percentage point Wednesday, in an effort to cool off demand and lower inflation. Consumer prices have been rising at the fastest pace in 40 years.

The central bank has announced a 0.5% interest rate hike — its highest increase in more than 20 years. The US move comes as a number of other countries cut lending rates to deal with rising prices.

After a sell-off on Wall Street, global investors are grappling with price increases and rising borrowing costs. Inflation is particularly brutal in Turkey, and the Greek government unveils a program to protect households from soaring energy prices.

A number of Nigerian airlines are halting domestic flights from Monday (May 9) until further notice, due to the high cost of fuel. Domestic flights have been disrupted since March as some operators started to cancel internal schedules while others delayed operations, citing scarcity of fuel.

Last week, hackers tried to disable the servers of several German authorities and ministries. A Russian group claimed responsibility on Telegram. The Federal Police Office has reported an increase in cybercrime.

Last week, hackers tried to disable the servers of several German authorities and ministries. A Russian group claimed responsibility on Telegram. The Federal Police Office has reported an increase in cybercrime.

Sri Lankans told DW how they're struggling with shortages of food, fuel and medicine as the nation faces one of its worst economic crises in decades.

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.

British inflation surged last month to its highest annual rate since 1982, piling pressure on finance minister Rishi Sunak to step up his help for households facing a worsening cost-of-living crisis.