![]() ![]() ![]() ![]() President Joe Biden has said he wants to press other leaders on high oil prices. The presidents and prime ministers representing 80% of the global economy will confront a recovery hampered by an energy crunch that’s spurring higher fuel and utility prices, new COVID-19 outbreaks and logjams in supply chains. ROME (AP) - The global economy is giving leaders of the Group of 20 countries a lot to talk about at their summit this weekend in Rome. G20 leaders to confront energy prices, other economic woes For months, annual inflation has remained far above the modest annual rates of 2% or less that prevailed before the pandemic recession. Sharply rising prices, in part a result of supply shortages, have imposed a growing burden on American households. At the same time, a key inflation barometer that is closely followed by the Federal Reserve surged 4.4% last month from a year earlier - the fastest such increase in three decades. WASHINGTON (AP) - American consumers slowed their spending to a gain of just 0.6% in September, a cautionary sign for an economy that remains in the grip of a pandemic and a prolonged bout of high inflation. ![]()
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