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US inflation hits fresh 40-year high

Inflation continued to squeeze US households in May with a 8.6% rate, the highest since 1981. Food and energy prices led the rally with double-digit increases.

Inflation continues to squeeze American households with an 8.6% rate in May, the highest since 1981. Food and energy prices lead the rally with double-digit increases. A consumer and a business owner in different parts of the country share their struggles as we ask Peter Jankovskis, vice president of Arbor Financial Services in Chicago, for his input on how the Federal Reserve may react to this rise.
The US is dropping its Covid test requirement for air travellers and Japan has reopening its borders to holidaymakers from almost 100 nations after two years of strict restrictions. We talk to Yukari Sakamoto who takes tourists on tours of food markets in Tokyo.
The president of Venezuela, Nicolas Maduro, is on his first international trip for three years for political and economic talks. He has visited Turkey, Algeria and Iran after being excluded by the US from the Summit of the Americas. Venezuelan economist Francisco Rodriguez explains the current situation of the country's economy.
The government of Saudi Arabia has introduced a lottery system for Westerners who want to attend year's Hajj pilgrimage to Mecca. We ask the director of The Ayaan Institute, Jahangir Mohammed, about the controversy this has created.

(Picture: A man looks at eggs displayed at a supermarket in Chicago, U.S., in April. Picture credit: Reuters)

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27 minutes

Last on

Fri 10 Jun 2022 21:32GMT

Broadcast

  • Fri 10 Jun 2022 21:32GMT