US inflation hits 40-year high of 8.5%
13 April 2022 | 12:52 pm
Consumer prices in the US surged by 8.5 percent in March, the fastest pace since 1981. The inflation spike was fuelled by a 32 percent jump in energy costs, linked to Russia's war in Ukraine. Many American consumers are struggling to keep up with the price rises. Also in the show: Emmanuel Macron appears to waver on his pledge to raise France's retirement age to 65, and Sri Lanka enters default as its economic crisis deepens.
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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.
On November 30, 2021, Barbados became the world's youngest republic, cutting historic ties with the British monarchy. In the 17th century, the Caribbean island state became a British colony dedicated to sugar production. Some 90 percent of its population are descended from slaves. Since independence in 1966, Barbados had long been ambivalent about its colonial heritage. But today, Prime Minister Mia Amor Mottley is taking the country into a new era. Our team reports.
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