Inflation

Indonesia's government expects inflation to stay above the central bank's target, forecasting an increase to between 6.6% and 6.8% this year after it raised fuel prices but said the measure would have minimal impact on economic growth.

Turkey's inflation stays at 80% in boost to Erdogan

British foreign minister Liz Truss said on Sunday she would set out immediate action in her first week in power to tackle rising energy bills and increase energy supplies if she is, as expected, appointed prime minister.

Just as inflation ravages the big guns of U.S. apparel retail, awash in high inventory and deep discounts to lure shoppers back to stores, Japan's Uniqlo is set for its best year ever in North America after a COVID-imposed revolution in its business model.

U.S. manufacturing grew steadily in August but factory activity in China, the euro zone and Britain fell as Russia's war in Ukraine and China's zero COVID-19 curbs continued to hurt businesses.

Europe's wealthiest nations face rising risks of civil unrest over the winter, including street protests and demonstrations, due to high energy prices and mounting costs of living, according to a risk consultancy firm.

UK household incomes are set to fall 10 percent in real terms in the next two years in the steepest such drop for a century.

The Italian government is preparing a new multi-billion euro package to help shield firms and families from surging energy costs and rising consumer prices, Foreign Minister Luigi Di Maio said on Thursday.

Manufacturing activity across the euro zone declined again last month as consumers feeling the pinch from a deepening cost of living crisis cut spending, a survey showed on Thursday, providing more evidence of the growing risk of recession.

British businesses have increasingly high expectations for inflation and wage costs over the coming year, according to a Bank of England survey which is likely to boost policymakers' concerns that it will be hard to get inflation back to target.

Indonesia's inflation rate eased more than expected in August, official data showed on Thursday, but economists said the rate is set to accelerate and more interest rate increases are likely amid expectation of a fuel price hike.

The surge in British house prices will come to an end next year as the cost of living crisis and rising borrowing costs put the brakes on what has been a buoyant market for years, a Reuters poll found.

British households' expectations for average inflation over the next five to 10 years hit a record-high 4.8% in August, more than double the Bank of England's 2% inflation target, a monthly survey from YouGov and U.S.

NHS England set aside £1.5 billion to cover an expected ₤485-million increase in energy bills. But the estimate was made in May and prices have risen again.

After struggling a bit with the ticket machine at Madrid's grand 19th century Atocha railway station, 26-year-old Jennifer Bernard Quintana and her sister became the happy owners of free travel passes valid from Thursday.

The eurozone inflation rate hit a new record in August, official data showed on Wednesday.

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Britain's services businesses reported a record increase in costs over the past three months and are downbeat about the future, as inflationary headwinds look set to squeeze demand further, the Confederation of British Industry said on Tuesday.

Britain's cost of living crisis has seen inflation soar to 40-year highs, with a widening number of strikes over pay offers that fail to keep pace with rising prices.

The message from the world's top finance chiefs is loud and clear: rampant inflation is here to stay and taming it will take an extraordinary effort, most likely a recession with job losses and shockwaves through emerging markets.

European shares dropped on Monday, while bond yields surged as comments from central bank policymakers heightened fears of aggressive measures to stamp out inflation amid rising risks of a recession.

European Central Bank policymakers made the case on Saturday for a large interest rate hike next month as inflation remains uncomfortably high and the public may be losing trust in the bank's inflation-fighting credentials.

Consumer morale in the euro zone's two biggest economies diverged starkly in August as French consumers benefited from fresh government measures while concerns over rising energy bills hit their German counterparts, surveys showed on Friday.

Hungary's central bank is expected to raise its base interest rate by 100 basis points to 11.75% next Tuesday.

Inflation-weary U.S. shoppers have been skimping on clothing purchases, prompting retailers to slash prices to clear inventory off the racks.

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The Bank of England has raised its benchmark rate from 0.1% to 1.75%, whereas until the financial crisis of 2008 it ranged from 5% to 15%.

Tomasz Luksza, who took over his father's Polish confectionary business just over a decade ago, has a problem he's not unhappy about: European supermarkets want more gummy bears and chocolate-covered marshmallows than he can make.

It will be a chilly winter for global stocks, according to analysts in a Reuters poll who cut year-end predictions for most major indices from three months ago and warned the risks to that already-dull outlook were skewed to the downside.

Another dramatic spike in natural gas prices appears to have ended any hopes that Europe's inflation battle is set to ease, with financial markets now bracing for higher prices, a faster pace of interest rate hikes and a deeper economic downturn.