Wednesday, 25th May 2022
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US Fed raises interest rates to tackle inflation

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.

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25 Jan
The US saw 7% year-over-year price increases in December, the largest hike in nearly four decades. This comes as omicron threatens to snarl supply chains once again.
24 Jan
Find these stories and much more when you grab a copy of The Guardian on Tuesday.
4 Feb
In Turkey, inflation reached a record annual rate of 36 percent at the end of 2021. The Turkish lira has plummeted and in supermarkets, workers are forced to change price tags on basic necessities several times a day. Turks are increasingly struggling to buy staple foods like flour and milk. While some have taken to satirising the crisis on social media, protests remain rare out of fear of repression. Our France 2 colleagues report, with FRANCE 24's Camille Nedelec.
4 Feb
Inflation fed by high oil and gas prices hit record levels in Europe for the third month in a row, extending pain for consumers and sharpening questions about future moves by the European Central Bank. Once again, soaring energy prices played a major role, rising a painful 28.6%.
5 Feb
Inflation in Turkey has soared to nearly 49 percent - the highest level in two decades. It's another sign that President Recep Tayyip Erdogan's unorthodox monetary policy may not be bearing fruit. Also in the show: as energy prices surge, British authorities unveil more financial aid for electricity bills, and Facebook shares plunge as it reports a drop in user numbers for the first time.
5 Feb
For more than 30 years, the European Bank for Reconstruction and Development (EBRD) has been investing in countries in Central and Eastern Europe. It's since expanded into the Middle East, Central Asia and North Africa and has plans to move into Sub-Saharan Africa too. The EBRD's President Odile Renaud-Basso discussed some of the challenges facing the development lender, including climate finance, transitioning away from fossil fuels and the Bank's pro-democracy mandate.
15 Feb
Inflation soared over the past year at its highest rate in four decades, hammering America's consumers, wiping out pay raises and reinforcing the Federal Reserve's decision to begin raising borrowing rates across the economy.
17 Feb
Could inflation prove more perilous to livelihoods than lockdown? The latest figures from France and its neighbours show light at the end of the public health crisis tunnel, but there's no time to celebrate. The recovery has spawned a bidding war over goods and raw materials that's cancelled out wage hikes for an in-demand labour force.
17 Feb
Heineken is raising the price of a pint, as supply shortages and high costs hit the beer-brewing business. It's a concrete example of how inflation is affecting both businesses and consumers. Meanwhile, inflation in the UK has hit a 30-year high, and French shoppers are worried about their purchasing power.
18 Feb
Could inflation prove more perilous to livelihoods than lockdown? The latest figures from France and its neighbours show light at the end of the public health crisis tunnel, but there's no time to celebrate. The recovery has spawned a bidding war over goods and raw materials that's cancelled out wage hikes for an in-demand labour force.
24 Feb
Sri Lanka's ongoing economic meltdown is getting worse day by day. It's the worst financial crisis this island nation of 22 million people has faced since its independence seven decades ago. The country's foreign reserves have been dangerously low in recent months, and experts fear the country is on the verge of default.
11 Mar
Venezuela is cutting six zeroes off the value of its currency, the bolivar. That's as its banknotes have become increasingly worthless due to runaway inflation.