The UK’s Chancellor of the Exchequer Nadhim Zahawi is visiting the United States this week to seek joint solutions to the cost-of-living crisis with U.S. government officials and financial executives. During his trip to New York and Washington, Zahawi will push for cooperation on energy security, financial services, and tackling spiralling prices and slower growth,…
UK Chancellor Zahawi Visits US to Seek Joint Solution to Cost-of-Living Crisis
August 30, 2022
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Boris JohnsonBusiness & Marketscost of livingeconomyenergyenergy pricesinflationliz trussNadhim Zahawi.Rishi SunakUKUSUS NewsWorld
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Over Half of Canadians Say They Can’t Keep Up With Rising Cost of Living: Poll
More than half of Canadians say they can’t keep up with the rising cost of living, according to a recent poll by the Angus Reid Institute. The survey, published on Aug. 22, found that 56 percent of Canadians say they are struggling to keep pace with soaring prices as high inflation continues to force them…
7-eleven Raises Price of $1 Coffee and Slurpees First Time in 13 Years as Inflation Bites
August 23, 2022
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7-elevenAustraliaAustralian Bureau of StatisticsBusiness & MarketsCompaniescost of livingeconomyinflationInternationalWorld
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Australians are about to pay more for their favourite 7-Elevens coffee and slurpees for the first time in more than a decade amid spiralling inflation. The multinational retail company, which has over 700 convenience stores across Australia, announced on Monday that from Oct. 4, the price of a regular cup of coffee would jump from…
Only 13 Percent of Americans Believe Democrats’ $369 Billion in Climate Spending Will Reduce Inflation: Poll
Just a small number of Americans believe that the Democrats’ Inflation Reduction Act (IRA) will help lower inflation across the country, according to a new poll from The Economist/YouGov. The survey was conducted Aug. 13–16, 2022, among 1,500 U.S. citizens age 18 and over and has a margin error of 2.9 percentage points adjusted for weighting 3 percentage…
New Zealand Cash Rate Raised to 3 Percent as Inflation Continues to Climb
August 17, 2022
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Asia & PacificBusiness & Marketscash ratecost of livingDavid SeymourGrant RobertsoninflationInternationalReserve Bank of New ZealandWorld
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The Reserve Bank of New Zealand (RBNZ) has raised the cash rate by 50 basis points to three percent and warned of risks associated with continued high levels of government spending. After inflation hit a 32-year high of 7.3 percent, the central bank made its fourth consecutive 50 points hike of the year, bringing the…
Average Canadian Family Will Pay More Than $15,000 for Health Care This Year
Commentary As inflation continues upward, many Canadians worry about the increasing cost of living and their household finances. However, there’s a crucial expense line missing—the amount we pay for public health care. Most of us intuitively know that health care isn’t free. At some level, we all understand that the money in the government’s coffers…
True Rate of Inflation ‘Much Higher’ Than Official Government Figures Show: Expert
While the White House took a victory lap on Wednesday’s declining inflation print, some experts say the true rate of inflation in the United States is much higher than the officially-reported data indicates. The Bureau of Labor Statistics (BLS) reported on Aug. 10 that the headline pace of inflation, as reflected in the Consumer Price…
UK Ministers Working on Fresh Cost-of-Living Proposal for Incoming PM
The Government is working up a fresh package of cost-of-living support for the next prime minister to consider when they take office, the Chief Secretary to the Treasury has said. Simon Clarke argued it is “absolutely right” for the new leader to consider “these options in the round” when they take the reins, suggesting they…
Electricity Thefts Hit Record Levels as Cost of Living Crisis Worsens
A record number of people stole electricity in England and Wales last year, according to new figures released by the Home Office. Police forces received 3,600 reports of “dishonest use of electricity” in the 12 months to March 2022, an increase of 13 percent on the previous year and the highest level since records began…
New Zealand Unemployment Rate Unexpectedly Edges Higher to 3.3 Percent
New Zealand’s unemployment rate has, against expectations, risen 0.1 percent to 3.3 percent in the June quarter, Stats NZ revealed. “Measures of spare labour market capacity have fallen over the year and remained low for several quarters, continuing to show a tight labour market,” Stats NZ senior manager Becky Collett said. Despite the slight increase,…
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