Inflation Nears 8 Percent Over Past Year Amid Rising Gas and Food Costs
Inflation rose 7.9 percent in the year ended February driven by gas food and housing costs the fastest gain since 1982. Core prices excluding food and energy rose 0.5 percent month to month and 6.4 percent year over year. Gas climbed about 62 cents per gallon since the war in Ukraine, with housing costs up sharply and broad price gains seen across categories.
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Uncertainty grips markets as stocks slide on inflation fears
Technology shares led a broad retreat on Thursday as global markets waver amid high inflation and possible rate hikes. The S&P 500 fell 0.4 percent while the Dow and Nasdaq declined as oil swung, energy prices remained volatile, and investors awaited clarity on inflation and policy.
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Russia Moves to Seize Foreign Firms Amid Ukraine Invasion
Russia plans to take temporary control of departing foreign owned companies with more than 25 percent foreign ownership. A Moscow court could appoint external managers and freeze shares to preserve assets and employees. The Economy Ministry says measures aim to auction assets, not full nationalization, while offering outlets to keep operations. Major brands pull out or pause investment as sanctions bite and retaliation looms. Citigroup and Renault remain cautious as Russia tightens capital controls and limits non resident payments.
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Global hunger rises as Ukraine war strains grain supply
UN official warns Ukraine and Russia dominance of wheat barley and corn exports worsens food security amid pandemic a rising 821 million hungry people and higher prices. Bangladesh relies on imports while climate and pests threaten Asia Pacific crops.
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U.N
Gabriel Ferrero de Loma-Osorio
Committee On World Food Security
Associated Press
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