Stoked by a staggering 40.8 percent rise in energy prices, the yearly inflation rate in the 19-country single currency area hit its highest level since records began, according to Eurostat.
More families have reduced their consumption of healthy food because of the rising costs in the market.
Philippine employers have penciled in an average 5.7% increase in worker salaries for 2023 to keep talent in the face of rising prices of goods, a survey by Willis Towers Watson (WTW) reveals.
Wall Street stocks fell again Monday as major indices slumped to their lowest level of 2022 amid market fallout from central bank policy pivots to address inflation.
Manolo Quezon unwittingly sparks healthy debate after posting his unpopular take on surcharges for takeout food packaging.
Stock markets tumbled, the pound crashed against the dollar and oil prices slumped Friday on growing recession fears after central banks this week ramped up interest rates to fight decades-high inflation.
The faster pace of increase in prices of goods and services has been the major reason for the decline in confidence among businesses and consumers in the third quarter of the year.
The pound fell to a fresh 37-year low against the dollar Friday as traders grow increasingly worried about the economic outlook with central banks ramping up interest rates to fight runaway inflation.
Higher interest rates and grinding inflation are likely to begin taking a higher toll on US consumers who have so far mostly managed to remain in healthy financial shape, bank CEOs told a congressional panel Wednesday.
The dollar surged to a near 20-year peak against the euro Wednesday as the Federal Reserve enacted another aggressive interest rate hike in response to runaway inflation.