As food costs and fuel bills soar, inflation is plundering people’s wallets, sparking a wave of protests and workers’ strikes around the world.
FILE -Health workers led by nurses take part in a demonstration over salaries at Parerenyatwa Hospital in Harare, on June, 21, 2022. . costs. Soaring fuel bills. Wages that are not keeping pace. Inflation is plundering people's wallets, sparking a wave of protests and workers’ strikes around the world.
“We are not all in this together,” said Matt Grainger, head of inequality policy at antipoverty organization Oxfam. “How many of the richest even know what a loaf of bread costs? They don't really, they just absorb the prices." Meanwhile, striking workers have pressured employers to engage in talks on raising wages to keep up with rising prices.
Peru's government imposed a brief curfew after protests against fuel and food prices turned violent in April. Truckers and other transport workers also had gone on strike and blocked key highways. In some countries, a combination of government corruption and mismanagement underpin the economic turmoil, particularly in politically gridlocked countries likeThe protests reflect a sense of growing financial insecurity. Here's how that has played out in Africa:
— Hundreds of activists this month protested the rising cost of living in Burkina Faso. The U.N. World Food Program says the price of corn and millet has shot up more than 60% since last year, reaching as high as 122% in some provinces.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inflation sparks global wave of protests for higher pay, aidInflation is threatening to widen the gap between people struggling to cover their costs and those able to keep spending. That is sending protesters into the streets seeking relief and higher pay that keeps pace with rising prices.
Read more »
Posthaste: Economists now see hotter inflation ahead — and higher Bank of Canada ratesEconomists see hotter inflation ahead — and higher Bank of Canada rates — via financialpost inflation
Read more »
Republicans knock Biden over inflation blame game as consumer prices soar higherRepublican lawmakers targeted President Biden over an economic report from his administration that did not identify fiscal stimulus as a contributor to inflation.
Read more »
Funeral industry trying to hold the line as costs soarInflation in the United States is soaring, but data shows the funeral industry is absorbing much of its higher costs to avoid passing them along to customers.
Read more »
European markets set to climb, capping volatile week as investors assess recession prospectsEuropean markets are set for a higher open to end a volatile week, as investors around the world assess inflation and fears of a possible economic recession.
Read more »
Gas prices could reach 'apocalyptic' numbers this summer if hurricanes threaten refining, oil expert warnsOPIS energy analysis global head Tom Kloza joins FOX Business to provide insight into how record gas prices are impacting the U.S. economy and inflation.
Read more »