economy

Record-setting heat waves in cities across UK, US and mainland Europe could punish economies already reeling from inflation

PROMO 64J1 Weather - Sun Thermometer Heat Hot Drought Temperature - iStock - Xurzon

Hundreds of millions of people struggled to keep cool amid a sweltering summer heat wave as cities across the U.S. and mainland Europe experienced record-high temperatures.

Swelling grocery bills are pummeling the poorest – who spend over a quarter of their incomes on food

PROMO Food - Grocery Shopping Cart Basket - iStock - Sergei Gnatiuk

Average food prices climbed an annualized rate of 10.4% in June, the Bureau of Labor Statistics reported on July 13, 2022. The gains were driven primarily by the cost of groceries, which jumped the most since the 1970s, by 12.2%.