The European Central Bank is set to raise interest rates again on Thursday and pencil in more hikes for the next few months, with the only open question being how big these will be.

The eurozone's annual inflation rate has fallen for a third consecutive month, official data showed on Wednesday, but uncertainty over the figures and continued price growth cooled optimism.

British grocery inflation hit a record 16.7% in the four weeks to Jan.

The International Monetary Fund on Tuesday raised its 2023 global growth outlook slightly.

The European Central Bank is expected to push on with its inflation fight Thursday with a fresh rate hike, even as signs grow the eurozone might have passed the worst of an economic shock.

The Prince and Princess of Wales were branded "tone-deaf" for visiting Windsor Foodshare empty-handed.

At an east London church on a bitterly cold winter's day, Beautine Wester-Okiya picks her way through boxes of donated baby clothes, toys and other assorted items destined for local people battered by the UK's cost-of-living crisis.

The Bank of England will lift the Bank Rate by 50 basis points on Feb.

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.

Inflation-pinched British consumers cut their shopping by the most in the key month of December in at least 25 years, official data showed on Friday, dashing hopes for a Christmas boost for the country's flagging retail sector.

British consumer sentiment fell for the first time in three months in January, returning near to historic lows as concerns about the economy and the soaring cost of living tightened the squeeze on household finances, research showed on Friday.

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.

European shares inched up on Monday as gains in healthcare stocks helped the benchmark index extend its sharp rally thus far into the new year, while UK's FTSE 100 hovered close to a record high.

British shoppers spent freely at Christmas, piling their trolleys with party food, drink and clothing as they enjoyed the first holiday season free of COVID worries for three years, but retailers warned most will tighten their belts in 2023.

Weak confidence around personal finances and a squeeze on disposable income will hold back growth in food retail sales to around 5% in 2023, according to market researcher NielsenIQ.

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

Euro zone inflation tumbled last month but underlying price pressures are still rising and economic growth indicators are surprisingly benign, suggesting that the European Central Bank will keep raising interest rates for months to come.

Various councils in England are giving help in the form of free cash and supermarket vouchers from a £500 million support fund.

It has been a rough 12 months for emerging markets that have seen more governments stumble into default, currencies suffer and double-digit losses in stocks and bonds alike - though many investors are optimistic that 2023 could bring some relief.

British inflation slowed more than expected in November but remained near the highest level in more than 40 years, official data showed Wednesday, as a cost-of-living crisis sparks fresh UK strikes.

Britain's economy remains on course for a long-lasting recession on fallout from the highest inflation in decades, analysts said on Monday, even if official data showed growth in October.

This was supposed to be the comeback year for the world economy following the Covid pandemic.

Pubs have been central to British communities for centuries, but their number has been dwindling for years and has plunged to its lowest ever level

Turkey's inflation slowed in November for the first time since May 2021, official data showed on Monday, delivering a boost to President Recep Tayyip Erdogan ahead of next year's election.

The cost of fresh food sold in British shops increased in November at the fastest annual rate since records began in 2005, a new blow for households grappling with the cost-of-living crisis, a survey showed on Wednesday.

The dollar eased from a one-week high on Wednesday ahead of a speech by Federal Reserve Chair Jerome Powell, while optimism over a possible loosening in China's COVID restrictions set it on course for its biggest monthly loss since late 2010.

European equities and the euro rose Wednesday as eurozone inflation slowed but remained elevated on high energy costs.

The European Central Bank should slow the pace of interest rate hikes from December and send a clear message that 75-basis-point increases are not the norm, as inflation is likely to peak this quarter.

The Bank of England will press on with interest rate rises to battle inflation even though Britain is heading into a long albeit shallow recession, with consumers facing an extended cost of living crisis, a Reuters poll of economists found.

With a secure job as a bricklayer, Hugo Ramirez never thought he would need the help of charity to feed his family.