Interest rates are almost certain to rise again in February, after the latest Consumer Price Index figures showing inflation hitting a record high of 7.8% in 2022.
Recent price rises are not due to higher wages but supply-side issues including the war in Ukraine, the COVID pandemic and Brexit.
Volunteers pitch in at the Second Harvest Food Bank in Irvine, Calif. in December 2022.
Jeff Gritchen/MediaNews Group/Orange County Register via Getty Images
A little more than 1 in 10 Americans can’t get enough to eat – around the same share of the country that was experiencing food insecurity before the COVID-19 pandemic.
Abnormally high market prices funnel wealth from consumers to owners of large companies.
(AP Photo/Julia Nikhinson)
Prices are up to five times higher than the raw costs of production for many of the goods and services we all need.
Nigerian president Muhammadu Buhari and Godwin Emefiele, the governor of the Central Bank of Nigeria, present the redesigned banknotes in Abuja.
Sodiq/Xinhua via Getty Images
For a country that aspires to reduce bureaucracy and liberalise its financial sector, currency redesign and cash withdrawal limits can only be counter-intuitive.
Oeuf! Egg prices are rising faster than a souffle.
Getty Images
A drop in gas prices helped tame inflation in December 2022. But grocery prices and housing costs continued to rise.
Canadian food prices have soared over the past year. Higher food costs can affect nutrition decisions and ultimately health.
THE CANADIAN PRESS/Darryl Dyck
Rapid increases in food prices due to inflation mean many Canadians may be making different food choices. Here are the possible short- and long-term effects of that, and some ways to save money.
While UK inflation could drop again in 2023, there is a lot of work to do to support the country’s economy.
A server brings food to a table as people dine at a restaurant in Vancouver in September 2021. For many people, deciding exactly how much to tip in a given situation can be uncomfortable.
THE CANADIAN PRESS/Darryl Dyck
As the year ends, how has New Zealand fared on global and domestic measurements, from social and economic freedoms to tackling poverty and homelessness?
A banner is displayed to advertise diesel available at a filling station in Lagos, Nigeria.
Pius Utomi Ekpei/AFP via Getty Images