The cost of living in Germany increased by nearly 6% year-on-year last year, according to provisional figures. While inflation has eased since the start of the year, food and energy price rises remain high.

Days ago, Nigeria's National Bureau of Statistics reported that headline inflation reached 26.7% in September 2023 up from 25.8% in August of the same year, with food inflation hitting 30.64% in September. The Guardian Nigeria stepped out to know how the inflation is affecting the lives of Nigerians and their businesses.

Household Consumption accounted for the largest share of real Gross Domestic Product at market prices in the first and second quarter of this year according to data from the National Bureau of Statistics. Femi Oladehin, Partner at Àrgentil Capital Partners joins CNBC Africa to unpack the numbers and drivers of inflation in Nigeria.

Consumer price inflation in the eurozone has slowed to its lowest level since July 2021. But the sluggish performance of the German economy contributed to the eurozone's economy shrinking by 0.1%.

Inflation in the eurozone fell to an almost two-year low. The news increases pressure on monetary policymakers to halt their recent string of painful interest rate hikes in the common currency area.

At the same time the global economy was forecast to do slightly better in 2023. But the effects of tight monetary policy are expected to be felt for a while yet.

On 17 August 2023, popular protests over the high inflation rate and deteriorating economic situation in Syria erupted in the Druze majority city of Al-Suwayda, with hundreds of participants. These grew, and by 20 August, thousands of protesters chanted slogans demanding the downfall of Assad regime.

The health and cost-of-living crises has disproportionately affected the poor and women in developing Asia, hurting their chances of long-term improvement.

The annual meeting (24-26 August) hosted by the US Federal Reserve will be closely watched, especially Federal Reserve chair Jerome Powell on Friday. While the policy of raising interest rates to lower inflation is no longer in doubt, observers will be watching out for clues as to when the US central bank might consider lowering rates again. The Federal Reserve has repeatedly stressed the importance of reaching the 2 percent inflation target.

African currencies have lost ground against the US dollar this year, further driving inflation in the import-reliant region. Depleting dollar reserves have left policymakers with limited options to arrest the decline.

Food prices have almost doubled within a year, and increasing numbers of retired people are falling below the poverty line. Meanwhile, the government continues to invest heavily in the arms industry.

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?