Most markets rose Tuesday but investors moved cautiously ahead of US inflation data later in the week.
In Canada's remote north, residents have long paid dearly for food, and rising prices have worsened an already dire situation, exposing the vulnerability of one of the world's biggest exporters of grains and meat.
The State Secretariat for Economic Affairs official said the help for businesses during the Covid-19 pandemic could not become the norm during economic downturns.
The Bank of England is expected to raise interest rates by the most since 1995 on Thursday, even as the risks of a recession mount, in an attempt to stop a surge in inflation from becoming embedded in Britain's economy.
Britain's financial watchdog said on Tuesday that the cost of living crisis, meeting climate targets and improving diversity should be reflected in how banks determine pay and bonuses.
The Bank of England is now expected to lift borrowing costs by a bigger 50 basis points to 1.75% on Thursday as it battles soaring inflation, according to a Reuters poll taken over the past week after several economists changed their minds.
Indonesia's inflation accelerated to its highest in seven years, above the central bank's target range, while core inflation remained within target.
As high inflation forces Americans to spend more on gas and bills, young and low-income consumers are starting to feel financial pressure.
Australian home prices slid for a third month in July and the pace quickened as Sydney suffered its worst decline in almost 40 years amid rising borrowing costs and a cost-of-living crisis.
British businesses do not expect any growth over the next three months, as a surging cost of living squeezes consumer demand, a monthly survey showed on Sunday.
With the Federal Reserve expected to hike its key interest rate by three-quarters of a percentage point on Wednesday to battle high inflation, focus will shift to how deeply signs of an economic slowdown have registered with its policymakers.
Europe's largest consumer-focused firms are seeing no shortage of demand despite a cost-of-living crisis.
The global economy is in the grips of a serious slowdown, with some key economies at high risk of recession and only sparse meaningful cooling in inflation over the next year, according to Reuters polls of economists.
The Bank of England must decide next week whether to join the ranks of central banks rushing out their biggest interest rate hikes in decades, or whether the warning signs of a recession mean it should tread more cautiously.
A surge in debt costs - pushed up by soaring inflation to twice their previous monthly peak - added to Britain's budget deficit in June, which was its highest since April 2021, data showed on Thursday.
UK annual inflation hit a new 40-year high at 9.4 percent in June on surging fuel and food prices.
Surging petrol and food prices last month pushed British inflation to its highest rate in 40 years, according to official figures that bolstered the chances of a rare half percentage-point Bank of England interest rate hike next month.
Oilfield services provider Baker Hughes on Wednesday reported a bigger second-quarter loss, hit by a $365 million charge from its Russian operations and supply chain inflation, while adjusted profits also missed analysts' forecasts.
South African inflation surged to a 13-year high in June, data showed on Wednesday, moving further away from the central bank's target the day before an interest rate announcement.
Almost half of Britons are changing what they buy to feed their families as they try to navigate a worsening cost-of-living crisis, according to survey data published on Wednesday.
Britain's government must focus on sound public finances and avoid further fuelling inflation by pumping up demand, new finance minister Nadhim Zahawi is due to say in his first major speech on Tuesday.
New Zealand's consumer prices rose at their fastest pace in three decades, beating forecasts and raising the prospect of an unprecedented 75 basis point interest rate hike at the central bank's policy meeting next month.