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The high-income segment in urban areas faced the lowest inflation burden, as food has a relatively low share in their consumption basked

July inflation in India| Urban poor most impacted says Crisil

The high-income segment in urban areas faced the lowest inflation burden, as food has a relatively low share in their consumption basked

Urban poor have been the most impacted by 15-month high consumer price inflation (CPI) in July, a domestic rating agency's arm said on Wednesday.
The high-income segment in urban areas faced the lowest inflation burden, as food has a relatively low share in their consumption basked, Crisil Market Intelligence and Analytics said in a note.
"Poorest segment in urban areas faced highest inflation rate in July," said the note, released days after official data said that the headline inflation accelerated to 7.44 per cent for July.
&ldquo;The poorest segment in both urban and rural areas faced a higher inflation burden than their high-income counterparts, as food inflation accelerated sharply," the Crisil note added.
Crisil said it used data from the &nbsp;National Sample Survey Organisation (NSSO) and mapped the expenditure baskets of three broad income groups &ndash; the bottom 20 per cent, middle 60 per cent and upper 20 per cent of the population &ndash; with July inflation.
The overall CPI inflation for the bottom 20 per cent income earners in urban areas came at 8.5 per cent in July against 7.9 per cent for their rural counterparts, the note said, adding that the same numbers had stood at 4.9 per cent and 4.7 per cent, respectively, in June.
As compared to this, the degree of change for the top 20 per cent income earners between July and June was more subdued, the note showed.
The CPI for the top 20 per cent income earners in urban areas increased to 7.1 per cent in July from 5 per cent in June, while for the rural segment, it went up to 7.3 per cent from 4.9 per cent.
The high-income segment in urban areas faced the lowest inflation burden, as food has a relatively low share in their consumption basket, the note said.
Within the poor people, the poorest segment in urban areas faced a higher burden than their rural counterparts as both food (12.3 per cent in urban against 11 per cent in rural) and fuel inflation (4.4 per cent versus 3.3 per cent) were higher in the former than the latter, the agency said.
Meanwhile, the rating agency also upped its FY24 overall CPI estimate to 5.5 per cent from the earlier 5 per cent following the release of the July data.
The extent of the sharp rise in July came as a surprise, it said, adding that early signs are pointing to a minimum relief in August.
&ldquo;The higher-than-expected inflation reading and continued food price pressure, despite a softening core, put monetary policy in a dilemma," the note said, admitting that typically the rate-setting panel overlooks supply-side shocks like the current one.
It expects the monetary policy committee to hold rates at its next meeting in October and cut rates only in the early part of next fiscal.

Data from the National Horticulture Board shows that apple prices were up 12 per cent sequentially in July

Inflation in India: Not just vegetables, but high fruit prices also squeeze kitchen budgets

Inflation in India: Not only vegetables, but high fruit prices hurt common man's pocket

Data from the National Horticulture Board shows that apple prices were up 12 per cent sequentially in July

Not just your vegetarian thali, but also the fruit platter on your dinning table has become more expensive. Soaring prices of fruits has become one of the reasons experts believe retail inflation in July is expected to surpass six per cent and will remain high in August as well.&nbsp; Fruits (ex nuts) account for 2.26 per cent of the retail inflation basket, of which a quarter is accounted for by apples, which have seen a sharp price increase, according to the ET report.
The retail price of apples was 15 per cent higher in August at Rs 175.63 per kg, compared with Rs 158.2 per kg average in May, according to a report in The Economic Times (ET).
Experts said retail inflation in July is expected to surpass six per cent due to rising food prices and will remain high in August.&nbsp; Arjuna's eye to tame inflation: RBI Guv
"We have to stand in readiness to go beyond keeping Arjuna&rsquo;s eye to deploying policy instruments, if necessary" to contain inflation, said Reserve Bank Governor Shaktikanta Das on Thursday, during the credit policy announcement.&nbsp;
Headline consumer price index-based inflation projection for the second quarter of 2023-24 has been revised up substantially, primarily due to the price shock from vegetables, at 6.2 per cent by the RBI form 5.2 per cent estimated in June.
Unveiling the bi-monthly monetary policy, Governor Das said the moderation in headline inflation to 4.6 per cent in the first quarter of 2023-24 was in line with the projections set out in the June MPC meeting.
There was a pick-up in headline inflation to 4.8 per cent in June due to an upturn in food inflation.

The Reserve Bank of India (RBI) started its efforts to tame inflation with rate hikes and upped the repo rate by a cumulative 2.50 per cent in policy actions from May 2022 to arrest the price rise

Inflation in India set to overshoot RBI's target in Jul, Aug says Nomura

High vegetable prices: Inflation set to overshoot RBI's target in Jul, Aug says Nomura

The Reserve Bank of India (RBI) started its efforts to tame inflation with rate hikes and upped the repo rate by a cumulative 2.50 per cent in policy actions from May 2022 to arrest the price rise

Consumer price inflation is expected to overshoot the Reserve Bank's tolerance mark of 6 per cent again in July and August due to the sky high vegetable prices, a Japanese brokerage said on Friday.
The government, which banned non-basmati rice exports earlier this week, is likely to usher in more supply-side measures to tame the price rise going forward, Nomura said in a note.
Also read/watch| <a href="https://www.editorji.com/business-news/sky-high-tomato-prices-here-s-why-govt-expects-prices-are-to-fall-1689949404069">Sky-high tomato prices: Here's why govt expects prices are to fall</a> &nbsp;
"We expect continued supply-side interventions, with inflation likely to be above 6 per cent levels in July and August, buoyed by sky-high vegetable prices," Nomura economists said.
Last year, inflation had been above the 6 per cent mark -- the upper tolerance level under the flexible inflation targeting set up -- for over three quarters at a go. This led to RBI writing an explanatory note to the government explaining the reasons for the price rise being above the set threshold.
The Reserve Bank of India (RBI) started its efforts to tame inflation with rate hikes and upped the repo rate by a cumulative 2.50 per cent in policy actions from May 2022 to arrest the price rise.
Earlier this year, the central bank paused its rate hike cycle to pay attention to growth, and many analysts expect a prolonged pause in policy rates before it starts cutting interest rates.
The Consumer Price Inflation (CPI) rose to 4.81 per cent in June from 4.31 per cent in May, driven by a spike in food prices.
Nomura said the rice inflation rose to 12 per cent in June from 9 per cent earlier, and daily data is suggesting a further rise in the prices in July as well.
The government had imposed a 20 per cent export tax on non-basmati rice in September last year, and with the latest move, 42 per cent of the rice exports are now banned, Nomura said.
According to the note, the late arrival of monsoons and its uneven spread is disrupting paddy sowing which, as of mid-July, is 6 per cent lower right now.
"It (the export ban) also marks the latest in a series of supply-side interventions, highlighting inflation as a political priority, with state elections in Q4 2023 and general elections in Q2 2024," the brokerage said.
Further, it said that India accounts for 40 per cent of the global rice exports and that the ban will have an impact on global prices.
Thailand can gain through the Indian move because the South East Asian country is a net rice exporter. Among the rice importing nations, Philippines, Singapore, Hong Kong and Malaysia could be impacted by the move, it added.

According to Michael Grahn, chief economist for Sweden at Danske Bank, a visit by Beyonce to Stockholm could explain the unexpected rise

Beyonce blamed for Sweden's high inflation; Here's why

According to Michael Grahn, chief economist for Sweden at Danske Bank, a visit by Beyonce to Stockholm could explain the unexpected rise

Swedish economists have blamed popular American singer Beyonc&eacute; for the rising inflation in the country.&nbsp;
Although inflation came in below 10% for the first time in six months, the easing of inflation was much less that was anticipated.
"Continued decrease in electricity and food prices contributed to the lower inflation rate in May," Mikael Nordin, statistician at Statistics Sweden, said in a statement.
At the same time, costs of certain goods and services rose, "for instance hotel and restaurant visits, recreational services, and clothing," the agency said.
According to Michael Grahn, chief economist for Sweden at Danske Bank, a visit by Beyonce to Stockholm could explain the unexpected rise.
"Beyonce's start of her world tour in Sweden seems to have coloured May inflation, how much is uncertain," Grahn said in a post to social media.
Grahn added that her much-hyped concert in May "probably" accounted for 0.2 of the 0.3 percentage points added to inflation by hotels and restaurant prices.
Tens of thousands of fans flocked to Stockholm in the middle of May to catch the two concerts that kicked off her first solo tour in seven years.
Inflation peaked in December at 12.3 percent -- a more than 30-year high -- then slowed slightly in January to 11.7 percent, but unexpectedly spiked back to 12 percent in February.
Like its peers in the United States and Europe, Sweden's central bank has repeatedly hiked its guiding rate in an effort to rein in inflation.
The Riksbank raised the rate to 3.5 percent in late April and said it would "probably" raise it by another quarter-point in June or September.
Inflation adjusted for fixed interest rates (CPIF) -- the figure used by the Riksbank to guide monetary policy -- was 6.7 percent in May, compared to 7.6 percent in April.
For 2023 as a whole, the central bank expects the Swedish economy to contract 0.7 percent, and has forecast unadjusted inflation of 8.9 percent and rising unemployment.

In a statement, the Fed said recent banking sector developments "are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring and inflation"

US Fed lifts key interest rate, voices banking sector concerns

In a statement, the Fed said recent banking sector developments "are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring and inflation"

The US Federal Reserve raised its benchmark lending rate on Wednesday, as it sought to strike a balance between curbing high inflation and averting further upheaval in the commercial banking sector.
The quarter-point increase, which was in line with expectations, lifted their interest rate target to between 4.75 and 5 percent at the end of a two-day policy meeting, the Fed said in a statement.
The policy-setting Federal Open Market Committee (FOMC) added that "some additional policy firming may be appropriate" to get to a stance that is sufficiently restrictive to bring inflation down.
The latest increase was the same size as the central bank's previous rate decision in February, and marks its ninth straight rate hike.
The Fed also updated its economic projections on Wednesday, slightly lowering its 2023 GDP growth projections 2023 to 0.4 percent from 0.5 percent in December.

In a move to tame inflation, Indian government could consider reducing taxes on some items such as maize and fue: report 

India may consider fuel, maize tax cuts to cool inflation: report

In a move to tame inflation, Indian government could consider reducing taxes on some items such as maize and fuel: report&nbsp;

In a move to help rein in climbing retail inflation, the Indian government could consider reducing taxes on some items such as maize and fuel, according to Reuters.&nbsp;
Quoting sources, the report further said, a decision would be taken only after the release of February inflation data. India&rsquo;s retail inflation rate rose to 6.52% in January from 5.72% in December, which is well above the upper end of RBI's comfort zone of 6%.&nbsp; &ldquo;Food inflation is likely to stay high, prices of milk, maize and soy oil are adding to inflation worries in the near term,&rdquo; a senior source familiar with the central bank&rsquo;s and government&rsquo;s thinking on the matter was also quoted by Reuters.&nbsp; India imports more than two-thirds of its oil requirements. A cut in taxes by the central government could push pump operators to pass on the benefits to retail consumers and help bring down inflation.

US consumer inflation cooled slightly in January but the figure remains markedly above policymakers' target, boosted by rent and energy costs
 
 

US inflation eases but how policymakers' battle not over

US consumer inflation cooled slightly in January but the figure remains markedly above policymakers' target, boosted by rent and energy costs
&nbsp;
&nbsp;

Rising rent and a gasoline price rebound helped keep US consumer prices elevated in January, according to data released on Tuesday, signaling that policymakers' battle against inflation is not over.
US Inflation data&nbsp;
The US central bank has hiked interest rates rapidly in the past year to raise borrowing costs and cool demand in the world's biggest economy, as inflation skyrocketed.
But even as the consumer price index (CPI), an important inflation gauge, eases from decades-high levels, the numbers point to some stickier areas.
With the effects of policy rippling through the economy, the CPI rose 6.4 percent in January from a year ago, according to Labor Department data. This was a touch below December's figure and the smallest annual increase since October 2021.
But it remains significantly above policymakers' two percent target.

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday

January retail inflation spikes to a 3-month high of 6.52%

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday. 

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday.&nbsp;

Retail inflation breached the RBI's comfort zone and rose to a three-month high of 6.52 per cent in January, mainly on account of a spike in food prices, as per government data released on Monday.
The inflation rate based on the Consumer Price Index (CPI) stood at 5.72 per cent December and 6.01 per cent in January 2022.
Inflation rate for the food basket was at 5.94 per cent in January, up from 4.19 per cent in December.
The previous high was 6.77 per cent in October.
The Reserve Bank has been mandated by the central government to ensure the retail inflation remains at 4 per cent with a margin of 2 per cent on either side.

After surging 5.3% in post-pandemic 2021, growth in the world's richest economies is likely to slow sharply from 2.5% in 2022 to just 0.5% this year



Global economy 'perilously close' to recession: World Bank

World bank on global economy 

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After surging 5.3% in post-pandemic 2021, growth in the world's richest economies is likely to sharpy slow from 2.5% in 2022 to just 0.5% this year&nbsp;
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In what comes as a grim warning of the times to come, the World Bank has said that the global economy is "perilously close to falling into recession". It expects the world economy to grow by just 1.7% this year - a sharp decrease from the 3% it predicted in June last year.&nbsp; The report attributes this decline to a number of factors including the repurcussions of Russia's invasion of Ukraine and the impact of the pandemic. With US, Eurozone and China, all undergoing a period of pronounced weakness, the report also says that the effects of higher interest rates will be a key challenge facing policymakers With a forecast of a 6.6% growth for the next fiscal year, World Bank says that India is expected to be the fastest-growing economy of the seven largest emerging markets and developing economies.&nbsp;

Food prices and transport costs also propelled inflation higher

UK inflation rises to 41-year high at 11.1%

Planning to move to UK for your higher education? Well, think twice before you make the decision as the country has accelerated inflation to the highest level for 41 years, driven by soaring energy, food and transport prices in a worsening cost-of-living crisis 

Food prices and transport costs also propelled inflation higher

British inflation has accelerated to the highest level for 41 years, driven by soaring energy, food and transport prices in a worsening cost-of-living crisis, official data showed Wednesday.
The Consumer Prices Index hit 11.1 percent in October, reaching the highest level since 1981, the Office for National Statistics (ONS) said in a statement.
That compared with 10.1 percent in September, which matched the level in July and was the highest in 40 years.
Domestic fuel bills rocketed further despite the UK government's energy price freeze as the market faced fresh fallout from key producer Russia's invasion of Ukraine.

The latest three-quarter percentage point increase takes the benchmark lending rate to 3.75-4.0 percent, the highest since January 2008

Fed delivers another steep rate hike with more to come

Another rate hike is here; Fed hikes interest rates 75 basis points

Fed delivers big rate hike

The latest three-quarter percentage point increase takes the benchmark lending rate to 3.75-4.0 percent, the highest since January 2008

In yet another decision, the US Federal Reserve delivered their fourth straight 75 basis-point interest rate with its move to cool red-hot inflation.
The unanimous decision lifts the target for the benchmark federal funds rate to a range of 3.75% to 4%, its highest level since 2008.
The policy-setting Federal Open Market Committee (FOMC) said more increases will be needed to tamp down rising prices but it will consider the impact on the economy when deciding on the pace of future moves -- opening the door to the possibility it will implement smaller steps in coming months.
Powell further said that the committee could begin discussing the possibility of slowing the aggressive pace of rate increases at the December meeting.

As millions across the world return to office after a two-year-long pandemic, they are being greeted by high prices on almost every item. These costs are being passed on to the typical business lunch traveller, experts are calling this phenomenon “Lunchflation”. But what is it?
Lunchflation, a recently created phrase, describes the specific inflation of lunchtime meal prices, such as sandwiches and wraps. This new inflation has received a lot of attention recently as more individuals start going back to work following the outbreak. 
Similar trends are being witnessed across restaurants and other companies in the US that have raised menu prices due to global inflation. 
This is happening not just in America but also in countries like South Korea, where the average meal price index increased 6.6% in April 2021. These consist of eateries that provide services including self-service via QR codes and online ordering, as well as local delivery at a set price through third-party partners.
In South Korea's capital, Seoul dubbed "lunch-flation", the price of beloved dishes such as "galbitang" (beef stew with rice) jumped 12.2% and "nengmyun" (cold noodles) rose 8.1%. 

Lunchflation hits office workers but what is it?

The war in Ukraine has impacted supplies of grains from there and Russia, and caused energy and fertiliser prices to soar.&nbsp;

As millions across the world return to office after a two-year-long pandemic, they are being greeted by high prices on almost every item. These costs are being passed on to the typical business lunch traveller, experts are calling this phenomenon &ldquo;Lunchflation&rdquo;. But what is it?
Lunchflation, a recently created phrase, describes the specific inflation of lunchtime meal prices, such as sandwiches and wraps. This new inflation has received a lot of attention recently as more individuals start going back to work following the outbreak.&nbsp;
Starbucks raised prices in the US earlier this year and in October 2021 &ndash; and prices could continue to rise. Salad chain Sweetgreen also raised its menu prices by 10 per cent since the start of 2021.&nbsp;
Similar trends are being witnessed across restaurants and other companies in the US that have raised menu prices due to global inflation.&nbsp;
This is happening not just in America but also in countries like South Korea, where the average meal price index increased 6.6% in April 2021. These consist of eateries that provide services including self-service via QR codes and online ordering, as well as local delivery at a set price through third-party partners.
In South Korea's capital, Seoul dubbed "lunch-flation", the price of beloved dishes such as "galbitang" (beef stew with rice) jumped 12.2% and "nengmyun" (cold noodles) rose 8.1%.&nbsp;

The global economy is at a difficult crossroads, buffeted by multiple shocks including soaring inflation, rising interest rates and a growing threat of broad debt crisis 

IMF warns global recession risks & darker outlook; what these warning means

IMF warns global recession risks &amp; darker outlook, but what these warning means?

The global economy is at a difficult crossroads, buffeted by multiple shocks including soaring inflation, rising interest rates and a growing threat of broad debt crisis.
Economy is moving from a world of relative predictability to one of greater uncertainty, International Monetary Fund chief Kristalina Georgieva has said, warning that countries accounting for about one-third of the world economy will experience at least two consecutive quarters of contraction this or next year.
In a speech ahead of the fund's annual meetings next week, the IMF's managing director said to take concerted action to avoid a "dangerous 'new normal,'" as the risks of a worldwide recession are driven ever higher by repeated economic shocks.
This highlights downturns in China and Russia, alongside higher-than-expected inflation, especially in the United States and Europe.
It is partly blamed on Russia's war in Ukraine, which has increased energy prices and food prices.
Whether an economic downtown has officially been declared a recession or not, the impacts of an impending recession can affect your daily life.
Some people may lose their jobs, or find it harder to get promotions, or pay rises big enough to allow them to cope with increases in prices.
Graduates and school leavers could find a first job harder to get.
However, the pain of a recession is typically not felt equally across society, and inequality can increase.
Benefit recipients and those with fixed incomes are particularly likely to struggle.&nbsp;

Striking workers held rallies across France to demand higher wages in response to soaring inflation

French police clash with demonstrators in Paris

Thousands strike in France for higher wages

Nationwide strikes hit France

Striking workers held rallies across France to demand higher wages in response to soaring inflation

Protesters and riot police clashed on the streets of Paris on Tuesday, as a result of fuel shortages and industry strikes across the country.
Industries across France went on strike to push for pay hikes that keep up with rising inflation, ramping up the clash between workers and the government after weeks of walkouts that hobbled oil refineries and sparked fuel shortages around the country.
Strikers demanded higher wages from the windfall profits of energy companies that have seen high oil and gas prices as Russia's war in Ukraine aggravates an energy crisis.
Many fuel stations have temporarily closed while awaiting deliveries. About 30% of France's fuel stations are experiencing temporary shortages, with the Paris area and northern France most affected.

As Europe is bracing for a difficult winter as soaring natural gas prices and a supply crunch, the sales of electric blankets, embedded with thin electric wires that disperse heat once plugged in, are up 67% from a year earlier. 
 
 
Europe is bracing for a difficult winter as soaring natural gas prices and a supply crunch driven by Russia’s war in Ukraine prompt governments to draw up energy rationing plans. Households, already battered by surging inflation, are looking for savings as they face eye-watering utility bill hikes. 
 

Electric blanket sales surge 67% in Europe, here's the reason

Data shows that total electric-blanket exports to Europe hit $33.4 million from January through July, which is almost double the whole of last year

As Europe is bracing for a difficult winter, the sales of electric blankets from China, embedded with thin electric wires that disperse heat once plugged in, are up 67% from a year earlier.&nbsp;
According to reports, online searches for the products have climbed almost 470%.
Daily inquiries from European buyers have increased fivefold, and most people request urgent shipping, according to China's Shenzhen-based company. The company expects to deliver over 10,000 blankets to the continent in the next month.
Europe is bracing for a difficult winter as soaring natural gas prices and a supply crunch driven by Russia&rsquo;s war in Ukraine prompt governments to draw up energy rationing plans. Households, already battered by surging inflation, are looking for savings as they face eye-watering utility bill hikes.&nbsp;

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, as President Recep Tayyip Erdogan presses for more interest rate cuts despite surging prices.Turkey's monetary policymakers are bucking the global trend of central banks raising interest rates to combat inflation, as high borrowing rates cool down the economy and prices.But Erdogan, who has focused on growth ahead of a general election in June, has repeatedly railed against higher rates, calling them his "biggest enemy".The transport, food and housing sectors have seen the biggest rise in prices.The transport sector saw the sharpest increases in annual prices at 117.66%, followed by food and non-alcoholic drinks at 93%. The lira, meanwhile, hit a new record low of 18.56 against the US dollar.Inflation began to rise worldwide after economies emerged from Covid lockdowns but it worsened this year as Russia's invasion of Ukraine sent energy and food prices through the roof.

Turkey's inflation rate hits fresh 24-year high

With transport sector saw the sharpest increases in annual prices at 117.66%, followed by food and non-alcoholic drinks at 93% - this country's currency hit a new record low against US dollar

This country's inflation surges to 83%

Prices are rising quickly around the world, due to factors including Covid-related supply shortages and the Ukraine war

Turkish inflation jumped to a new 24-year high exceeding 83 percent in September, as President Recep Tayyip Erdogan presses for more interest rate cuts despite surging prices. Turkey's monetary policymakers are bucking the global trend of central banks raising interest rates to combat inflation, as high borrowing rates cool down the economy and prices. But Erdogan, who has focused on growth ahead of a general election in June, has repeatedly railed against higher rates, calling them his "biggest enemy". The transport, food and housing sectors have seen the biggest rise in prices. The transport sector saw the sharpest increases in annual prices at 117.66%, followed by food and non-alcoholic drinks at 93%. The lira, meanwhile, hit a new record low of 18.56 against the US dollar. <a href="https://www.editorji.com/business-news/rbi-hikes-repo-rate-to-rein-in-inflation-lowers-gdp-forecast-1664518544931">Inflation Rate</a>&nbsp; began to rise worldwide after economies emerged from <a href="https://www.editorji.com/world-news/under-covid-19-lockdown-xinjiang-residents-complain-of-hunger-1663224922145">Covid lockdowns</a> but it worsened this year as <a href="https://www.editorji.com/world-news/us-hits-russia-with-sanctions-for-absorbing-occupied-ukrainian-regions-1664557903986">Russia</a>'s invasion of <a href="https://www.editorji.com/world-news/ukraine-war-putin-signs-treaties-annexing-ukrainian-regions-1664548707359">Ukraine</a> sent energy and food prices through the roof.

As Japan grapples with inflationary pressures and a slide in the yen to a 24-year-low, 
joining a growing number of businesses passing on the impact of the weakening yen and the highest inflation in decades to consumers.
 
According to reports, rising production costs and the yen's slide to a 24-year low have led spurred price increases by 60 per cent of major Japanese restaurants. 
 

McDonald hikes menu prices in Japan; 'I'm not lovin' it' 

The cost of the signature Big Mac hamburger will increase to 410 yen (US$2.85) from 390 yen

As Japan grapples with inflationary pressures and a slide in the yen to a 24-year-low, the country's McDonald's fast food restaurants are planning to raise menu prices for the second time this year.&nbsp;
The cost of the signature Big Mac hamburger will increase to 410 yen (US$2.85) from 390 yen, McDonald's Holding Company Japan said in a statement, reflecting increases of 10 to 30 yen on many items.
McDonald's Japan is raising prices for the second time in 2022 on its cheeseburgers, which will cost 180 yen each from Friday from 140 at the beginning of the year.
The company, which operates stores for Chicago-based McDonald&rsquo;s Corp., said it has been affected by &ldquo;a recent surge in raw material prices, rising labor, logistics and energy costs, as well as rapid exchange rate fluctuations.&rdquo; &nbsp;

As the threat of a global recession is growing, the World Bank gives a wake up call to governments to help boost supply to ease the constraints behind rising prices. 
The warning comes as consumers around the world are struggling with higher costs for necessities like food, fuel and shelter at the same time as they are shifting spending away from e-commerce back to in-person shopping, dining and travel.
The global delivery firm, FedEx said it was cutting costs including shutting some FedEx Office locations, reducing labor hours and consolidating some sorting facilities.
The company also warned it will likely miss Wall Street’s profit target for its fiscal first quarter that ended Aug. 31. And it said it expects business conditions to further weaken in the current quarter amid weaker global volume.
Inflation worldwide has been rising at the fastest pace seen in decades, due to supply constraints amid high demand as countries emerged from the pandemic. It has been exacerbated this year by the Russian invasion of Ukraine and Covid lockdowns in China. 

The recession risk and reality: World Bank warns, FedEx flags worry 

The World Bank in early June slashed its forecast for global growth to 2.9 percent, more than a full point lower than the estimate in January.&nbsp;

The recession risk and reality : As the threat of a global recession is growing, the World Bank gives a wake up call to governments to help boost supply to ease the constraints behind rising prices.&nbsp;
The warning comes as consumers around the world are struggling with higher costs for necessities like food, fuel and shelter at the same time as they are shifting spending away from e-commerce back to in-person shopping, dining and travel.
The global delivery firm, <a href="https://www.editorji.com/business-news/fedex-appoints-indian-american-raj-subramaniam-as-new-ceo-1648528881091">FedEx</a> earlier said it was cutting costs including shutting some FedEx Office locations, reducing labor hours and consolidating some sorting facilities.
The company also warned it will likely miss Wall Street&rsquo;s profit target for its fiscal first quarter that ended Aug. 31. And it said it expects business conditions to further weaken in the current quarter amid weaker global volume.
Inflation worldwide has been rising at the fastest pace seen in decades, due to supply constraints amid high demand as countries emerged from the pandemic. It has been exacerbated this year by the Russian invasion of Ukraine and Covid lockdowns in China.&nbsp;
Read More:- <a href="https://www.editorji.com/world-news/sri-lanka-economic-crisis-who-loaned-more-money-to-colombo-india-or-china-1663259710877">Sri Lanka economic crisis｜who loaned more money to Colombo: India or China?</a>

Rupee hits new record low as dollar hits 20-year high

Rupee hits new record low as dollar climbs 20-year high

Rupee falls 51 paisa to an all-time low of 80.47 against the US dollar as the U.S. Federal Reserve hinted at more aggressive rate hikes to tame inflation

Global oil benchmark Brent crude futures rose 0.49 per cent to USD 90.27 per barrel

Rupee falls 51 paisa to an all-time low of 80.47 against the US dollar as the U.S. Federal Reserve hinted at more aggressive rate hikes to tame inflation.
Forex traders said the strength of the American currency in the overseas market, a muted trend in domestic equities, risk-off moods and firm crude oil prices weighed on the local unit.
According to Bloomberg, while the Fed hiked the rates by 75 basis points, more importantly, it hinted that more hikes were coming and that rates would stay elevated until 2024. As a result, Asian currencies opened weaker, with the Chinese yuan slipping below 7.10 to the dollar.
Meanwhile, the US dollar climbed up sharply to a new 20-year peak on the day as the rate hike spooked investors and advanced 0.88 per cent to 111.61.
Sentiment took an additional hit from Russia's escalation of its war with Ukraine and tensions between Beijing and Taiwan.

The Bank of England has warned the UK will fall into recession as it raised interest rates by the most in 27 years.
The announcement comes after as the bank forecasts that the war in Ukraine would fuel further inflation and tip the UK economy into a prolonged recession.
The economy is forecast to shrink in the last three months of this year and keep shrinking until the end of 2023.
Inflation is expected to slow to 9.5% in the third quarter of 2023 and drop in line with the 2% target a year later, the central bank forecast.
The inflation picture has worsened in recent months as Russia cut natural gas shipments to Europe in retaliation for the west's support of Ukraine. That has triggered unprecedented increases in energy prices worldwide. 

Bank of England warns UK will fall into recession this year

This central bank is warning of a recession amid this reason

This central bank is warning of a recession

Inflation is expected to slow to 9.5% in the third quarter of 2023 and drop in line with the 2% target a year later, the central bank forecast

The Bank of England has warned the UK will fall into recession as it raised interest rates by the most in 27 years.
The announcement comes after as the bank forecasts that the war in Ukraine would fuel further inflation and tip the UK economy into a prolonged recession.
The economy is forecast to shrink in the last three months of this year and keep shrinking until the end of 2023.
Inflation is expected to slow to 9.5% in the third quarter of 2023 and drop in line with the 2% target a year later, the central bank forecast.
The inflation picture has worsened in recent months as Russia cut natural gas shipments to Europe in retaliation for the west's support of Ukraine. That has triggered unprecedented increases in energy prices worldwide.&nbsp;

inflation hike

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