Food Prices

UK central bank may hike rates after big jump in food prices

The unexpected jump in prices in the United Kingdom refocused attention on stubbornly high inflation that is pummeling consumers and slowing economic growth. Investors are now betting the central bank will raise its key rate by a quarter of a percentage point, to 4.25 per cent

Will Russia’s war with Ukraine push 141 million people into ‘extreme poverty’?

Research published in the journal Nature Energy has said that soaring energy prices triggered by Russia’s conflict with Ukraine could push millions of people across the world into ‘extreme poverty’. The authors have urged governments to protect vulnerable households from the crisis

UK food inflation hits record high of 13.3%, expert says '2023 another difficult year for consumers'

The soaring price of food including those of pasta and tinned edibles in December led to many households experiencing a 'challenging Christmas'

Russia under blame as G20 summit tackles Ukraine war, soaring food prices

Eyeing a joint G20 declaration that would condemn Russia's eight-month-old invasion and threats to use nuclear weapons, US and European officials painted the summit in Bali as evidence of Russia's deepening isolation

Pakistan: Catastrophic monsoon floods skyrocket food prices

The floods have submerged a third of the country, killing more than 1,100 people and affecting over 33 million

All burnt out: How China is grappling with the hottest heatwave in six decades

China's worst heatwave has forced authorities to shut down factories for five days in an attempt to conserve electricity. The Asian giant has also imposed rotating blackouts in different areas and instructed people not to use their air-conditioners above the 26 degree Celsius-mark

Russian military forces fires missiles and shells across Ukraine's north, east, south

Russia's invasion of Ukraine has also rippled through the world economy, hiking energy and food prices and crimping exports of key Ukrainian and Russian products such as grain, fuel and fertilizer

At 7.79% retail inflation soars to eight-year high in April

Inflation has remained above the RBI's comfort zone of 6 per cent for four months in a row mainly due to the Russia-Ukraine war which has impacted the prices of commodities across the globe

People across UK get hit by high energy costs and the prices may still increase

In the UK, economists warn of the biggest drop in living standards since the mid-1950s, fueled by rocketing energy costs, food prices and preplanned tax increases

How fuel and food inflation will bleed global economy if Russia invades Ukraine

An outright attack by Russian troops could cause dizzying spikes in energy and food prices, fuel inflation fears and spook investors, a combination that threatens investment and growth in economies around the world