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Articles on Inflation

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Minimum wage is no match for rising cost of living. Photo by Adekunle Ajayi/NurPhoto via Getty Images

A gloomy May Day awaits Nigerian workers

With a monthly minimum wage of 30,000 Naira (US$72), the average Nigerian worker is groaning under the weight of the rising cost of living.
A person shops at a supermarket in Moscow in April. War-related sanctions have caused inflation to soar – 2% per week in the first three weeks of the war and 1% per week thereafter, equivalent to 68% per year. Natalia Kolesnikova/AFP

War in Ukraine: Russia’s reputedly ‘sanction proof’ economy shows signs of stress

While the country’s Central Bank may have managed to offset some of the tougher sanctions, the West’s economic broadside has caused long-term damage to “Fortress Russia”.
The Bank of Canada announced a 0.5 per cent interest rate increase on April 13, 2022, in a move to quell Canada’s high inflation. THE CANADIAN PRESS/Sean Kilpatrick

Why we can’t just ‘stop printing money’ to get inflation down

While central banks did help mitigate a COVID-induced recession, they don’t have the power to solve our inflation problem.

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