Consumers cut spending as inflation bites household budgets
In July, inflation rose to 4.94 per cent year-on-year, exceeding the Bank Indonesia forecast that the consumer price index would rise between 4.5 and 4.8 per cent.
ECONOMIC AFFAIRS
China announces benefits to support people facing economic hardship
It is expected that from September to March, people in hardship nationwide will be provided with about 20 billion yuan ($2.9 billion) of temporary subsidies.
Asian LNG prices hit new records as Japan, South Korea start stocking for winter
The surge in LNG prices had been triggered by a strain on global supplies as Europe grapples with the significant loss of gas flows from Russia.
Bank of Korea makes 4th consecutive rate hike
The unanimous decision reached by all seven board members comes as the country fights inflation at an almost 24-year high.
Protests in Karachi against inflated electricity bills, power outages
In the last few weeks, demonstrations have been reported across the country against the fuel price adjustment and taxes on the electricity bills.
Indonesia weighs $13 billion subsidy hike to keep fuel cheap
While fiscal consolidation remains on track, the move would see the government take another chunk out of the state’s windfall revenue from commodity exports to keep fuel cheap.
Sugar price hike: JS body slams two ministers
Sugar importers have blamed the price hike on the depreciation of the taka, which has increased the import costs by 20-23 per cent.
Korean ramen next in line for sharp price hike
Nongshim, a leading South Korean ramen maker said it was raising prices for instant noodles and snacks due to soaring global wheat prices.
Egg prices break all-time high in Indonesia, industry blames bulk social aid purchases
Indonesian Political Economy Association agriculture expert Khudori said the chicken egg price spike would likely be seasonal, in accordance with the social assistance program…
Indonesia’s central bank hikes rate for first time since 2018, warns inflation could exceed 5%
The hike is in line with a forecast by financial research firm Moody’s Analytics, while most economists polled by financial news provider Bloomberg had expected no increase.