British annual inflation dropped further last month on easing transport costs, official data showed Wednesday, but remains above 10 percent, prolonging a cost-of-living crisis that has sparked massive strikes.

British inflation fell by more than expected in January and there were signs of cooling price pressure in parts of the economy watched closely by the Bank of England, adding to signs that further hefty interest rate hikes are unlikely.

The dollar was broadly lower on Tuesday ahead of a keenly anticipated inflation report, while the yen strengthened as surprise pick Kazuo Ueda was nominated to be the next governor of Bank of Japan.

"Not only are staff struggling but students feel the effects when universities are short-staffed," said UNISON head of education Mike Short.

British employers expect to raise wages for their staff by the most in at least 11 years but the 5% pay deals for workers would still fall well below expected inflation, a survey published on Monday showed.

Bank of England policymakers disagreed on Thursday about where interest rates need to go to tame inflation, with Governor Andrew Bailey stressing the uncertainty of the outlook, a week after the BoE suggested its run of rate hikes might be peaking.

Chefs have not returned to work in the same numbers post-pandemic, leaving the hospitality industry grappling with an acute staffing crisis at a time when operators are also struggling with the soaring costs of doing business.

Air raid sirens wailed on Friday morning as European Union and Ukrainian leaders gathered for a summit, with Kyiv set to win pledges of further support but not a promise of quick accession to the wealthy bloc.

The Bank of England is poised to raise interest rates for the 10th time in a row on Thursday to keep up its fight against rampant inflation, but it might also drop a hint about when the steep climb in borrowing costs will end.

French railway worker Franck Viger-Brunet says he and his comrades have to count carefully the costs of going on strike to force President Emmanuel Macron to back down on plans to hike the retirement age by two years to 64.

Half a million workers went on strike in Britain on Wednesday, calling for higher wages in the largest such walkout in over a decade, closing schools and severely disrupting transport.

A panel of academics and business executives on Monday urged the Bank of Japan (BOJ) to make its 2% inflation target a long-term goal instead of one that must be met as soon as possible, in light of the rising cost of prolonged monetary easing.

The National Education Union declared seven days of walkouts in February and March after nine out of 10 union teacher members voted for strike action.

Since at least the early 1980s, household debt-to-income ratios have been increasing dramatically.

The U.S. dollar index last stood at 101.53, languishing near last week's eight-month trough of 101.51.

Since industrial action first started to gather speed last year, concerns have been raised about a wage-price spiral causing entrenched inflation.

The Bank of England must decide next week how much higher it will raise borrowing costs as it tries to bear down on Britain's double-digit inflation rate without adding too much stress to an economy already close to recession.

Technological advancements are changing the way we work and the types of jobs available in the future. Some jobs may be eliminated, while others will be enhanced by the use of AI and machine learning.

Australia employment unexpectedly dipped in December following an outsized gain the month before in a sign the red-hot labour market might be cooling, though the jobless rate stayed near five-decade lows.

Trade unionists plan to paralyse public transport, shut down schools, set up picket lines and march through cities on Thursday over President Emmanuel Macron's pension reform.

British inflation eased last month after hitting a 41-year high in October, offering some comfort to the Bank of England, but the pressure on households remained intense as food and drink prices rose at the fastest pace since 1977.

Pay awards by British employers held at 5% for the second month in a row in December, well below annual inflation of close to 11%, data from human resources company XpertHR showed on Wednesday.

Strikes disrupting swathes of the British economy look likely to intensify this week, with teachers ready to announce industrial action, according to the Sunday Times, and nurses warning their strikes could double in size next month.

Former PM Boris Johnson's company has received £1 million in donations from Thailand-based British businessman Christopher Harborne.

Steps taken by the government so far to try to generate growth have been questionable.

Uniqlo parent Fast Retailing Co Ltd on Wednesday said it would raise wages by as much as 40%, a clear sign that Japan's rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting.

Britain's government stood accused Wednesday of actively undermining talks with union leaders in a bid to encourage strike action and depress workers' wages across the economy.

The Danish restaurant Noma, one of the world's top restaurants, will stop offering its services next year.

Bank of England Chief Economist Huw Pill said on Monday that Britain is at risk of persistent inflationary pressure from a tight labour market, even if natural gas prices stabilise or fall, implying further rate rises may be needed.

Businesses in the UK are reinventing the way they run their organizations as industry dynamics change due to unprecedented inflation in the UK.