Inflation Rates in the World’s Rich Economies 25-year high, adding to concerns about rising living costs for households and mounting pressure on the central bank to raise interest rates.

Consumer prices in the OECD group of developed countries rose to an annual rate of 5.8 percent in November, up from 1.2 percent in the same month last year and the fastest pace since May 1996, data showed on Tuesday.

The increase was driven by energy prices, which soared 28%, up more than 3 percentage points from the previous month to the highest level since June 1980. Food price inflation also rebounded strongly to 5.5% from 4.6%. last month.

The data came as the incoming Bundesbank president warned that inflation could last longer than economists had expected.

In the U.S., the Fed chair warns that high inflation will cause “serious threat” Recovery of the national job market.

Are you experiencing price increases where you live?tell us what you’re looking at [email protected]. Thank you for reading FirstFT Asia.Here’s the rest of the news today – Emily

Five more stories in the news

1. Kazakh president says Russian troops will withdraw Kazakhstan’s President Kassim-Jomart Tokayev asked Russia for help last week after claiming the protests were a “coup”, saying yesterday, Moscow-led military mission completed The contingent will leave the country within 10 days.

2. Citadel Securities sells $1.2 billion stake to Sequoia and Paradigm Hedge fund billionaire Ken Griffin owns $1.2 billion stake sold Acquisitions at Citadel Securities from venture capitalists Sequoia Capital and Paradigm paved the way for an initial public offering by one of the world’s largest market makers.

3. Indian government takes stake in Vodafone Idea The company has Approve rescue plan Made the Indian government its largest shareholder, nationalizing a nearly 36 percent stake in the crumbling telecoms operator to prevent it from collapsing.

4. Chip crisis hits Volkswagen electric car sales in China Volkswagen Electric vehicle sales fell by 10,000 units In China, a semiconductor shortage hit customer deliveries in China’s largest market due to stiff competition from domestic brands.

5. Yen/dollar at risk of further decline in 2022, analysts say JPY likely to fall further Analysts said it came in the weeks after the dollar broke a key support level and hit a 50-year low against the currency of Japan’s most important trading partner.

coronavirus digest

• English Premier League won the high court Pay at least $212 million From a Chinese broadcaster due to contract breakdown during the pandemic.

• WHO say the country is “Road” From treating the coronavirus as an endemic disease. More than half of countries in Europe could be infected with Omicron within the next two months, a senior official has warned.

• Boris Johnson Britain’s prime minister faces new questions about whether his government is following its own Covid rules after he attends the meeting “Bring Your Own Beverage” campaign during lockdown.

• China locked another city. Residents of Anyang, a city of 5.5 million, have been ordered to stay at home during mass Covid-19 testing.

• as a solution anti-vaxxer question, Andreas Utermann believes those who choose not to be vaccinated should be asked to pay for their Covid hospital care.

the day ahead

Monthly Consumer Price Index Data and Global inflation rises, pay attention to the CPI data released by China, India, Russia and the United States today.

NATO meeting NATO’s highest military authority, the Military Council, at a meeting of defense ministers in Then Headquartered in Brussels.Separately, the NATO-Russia committee will meet to discuss the massing of Russian soldiers on the Ukrainian border

Federal Reserve Beige Book published This US Central Bank The first summary of economic conditions will be published in 2022.

what are we still reading

China hits the brakes on African lending Chinese banks, from almost nothing, now account for about a fifth of all lending to Africa. But after a 20-year lending spree, Beijing has sent more cautious signals. What this means for the mainland?

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How To Ask For A Raise – And Get One! Financial Times money-making expert Claire Barrett unboxes big, scary box marked ‘asking for a raise’ on this week’s show episode of money clinic. This is a repeat of the previous episode.

North Korea accepts international climate goals North Korea’s reclusive regime generally shuns engagement with the international community.But in recent decades, a A series of extreme weather events, Pyongyang has demonstrated its willingness to engage in a range of environmental issues.

Indian bankers enthusiastically look forward to a ‘feast’ in 2022 Since the FT’s Chloe Cornish moved to Mumbai, India’s business capital in late November, financiers have sent her encouraging greetings: “It’s a good time for you to come to India!” Fundraising is surging as the subcontinent recovers from the pandemic.

Will the UK and EU reach a deal on Northern Ireland? Negotiations will continue this week on how to resolve the long-standing dispute over trade arrangements. But officials remain widely divided on the substance of how to manage the new trade border in the Irish Sea. Financial Times eyes deal outlook.

Movie

Jessica Kingdon reaches a wide range of businesses in China with her Oscar-nominated documentary promote. From sex dolls to MAGA hats, this is the Chinese dream that the film speaks of.