Inflation and a cost of living crisis have grabbed the attention of economists and policy makers since the pandemic. But 2024 seems to have brought some good news for consumers and central bankers. That's because inflation concerns seem to be easing in the u.s., uk, and eurozone.

Inflation eases globally, under central banks' targets

Major retailers across the United States have begun placing everyday products like toothpaste, chocolate, washing powder and deodorant under lock and key amid a reported rise in petty theft and organised shoplifting as the country grapples with the cost of living. Meanwhile, some shoppers said they are fearful during shopping amid the rise in organised retail theft.&nbsp;

<h2>US retailers justify placing products under lock and key</h2>

According to a report by AFP, major American retailers like Walmart and Target, drugstore chains CVS and Walgreens as well as home improvement firm Home Depot and Dick’s Sporting Goods are among some of the growing number of companies who have voiced concerns about the thefts, including some violent incidents.&nbsp;

They have also spoken about how it has affected their recent earnings. “Organised retail crime, and theft in general, is an increasingly serious issue impacting many retailers,” said Lauren Hobart, chief executive at Dick’s during a conference call, as quoted by AFP. She also called the impact of stealing on the company’s inventory “meaningful”.&nbsp;

In a separate briefing, Target chief executive Brian Cornell said, “During the first five months of this year, our stores saw a 120 per cent increase in theft incidents involving violence or threats of violence.” He also noted how this loss of inventory due to theft is well above what is sustainable over the long term.&nbsp;

According to the National Retail Federation’s Retail Security Survey 2022, American retailers&nbsp;lost some $94.5 billion nationwide to the so-called “shrink” in 2021. In this context, shrink refers to the loss of inventory from factors including staff theft, shoplifting or administrative errors.

The survey also noted that retailers on average saw a 26.5 per cent rise in organised retail crime in 2021 and a majority of respondents said that the pandemic has led to an increase in risks.

<h2>What is causing this rise in violence and theft?</h2>

The US Federal Reserve has announced consecutive interest rate hikes taking the number once close to zero to around 5.5 per cent over 18 months, which is the highest in 22 years.&nbsp;

The higher interest rates have not only made it pricier to borrow funds for bigger purchases but also made it difficult for companies to expand while American consumers have been feeling the squeeze.&nbsp;

<h2>Measures taken by the stores</h2>

The rise in theft has prompted stores to install transparent walls with locks on shelves, sometimes padlocked chains on refrigerators, and scattering call buttons in aisles for staff, according to AFP. Additionally, stores also sparsely stock unprotected shelves.&nbsp;

Some retailers have closed stores due to the rise in theft and lack of profitability. In 2021, Walgreens closed five stores in the US city of San Francisco due to theft.&nbsp;

<h2>US shoppers are afraid&nbsp;</h2>

Ann McGee, a New Yorker from the borough of Queens, told AFP that she doesn’t like the recent fear she has while shopping, amid a rise in theft. “It’s not normal to be scared” when shopping, McGee told the news agency.&nbsp;

She has been a resident of the borough for more than four decades now and said she has recently been so concerned about her safety that she leaves her purse and jewellery – including her wedding ring – at home when she goes shopping.

(With inputs from agencies) &nbsp; 
 
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Major retailers across the United States have begun placing everyday products like toothpaste, chocolate, washing powder and deodorant under lock and key amid a reported rise in petty theft and organised shoplifting as the country grapples with the cost of living.

Major retailers across the United States have begun placing everyday products like toothpaste, chocolate, washing powder and deodorant under lock and key amid a reported rise in petty theft and organised shoplifting as the country grapples with the cost of living. Meanwhile, some shoppers said they are fearful during shopping amid the rise in organised retail theft. US retailers justify placing products under lock and key According to a report by AFP, major American retailers like Walmart and Target, drugstore chains CVS and Walgreens as well as home improvement firm Home Depot and Dick’s Sporting Goods are among some of the growing number of companies who have voiced concerns about the thefts, including some violent incidents. They have also spoken about how it has affected their recent earnings. “Organised retail crime, and theft in general, is an increasingly serious issue impacting many retailers,” said Lauren Hobart, chief executive at Dick’s during a conference call, as quoted by AFP. She also called the impact of stealing on the company’s inventory “meaningful”. In a separate briefing, Target chief executive Brian Cornell said, “During the first five months of this year, our stores saw a 120 per cent increase in theft incidents involving violence or threats of violence.” He also noted how this loss of inventory due to theft is well above what is sustainable over the long term. According to the National Retail Federation’s Retail Security Survey 2022, American retailers lost some $94.5 billion nationwide to the so-called “shrink” in 2021. In this context, shrink refers to the loss of inventory from factors including staff theft, shoplifting or administrative errors. The survey also noted that retailers on average saw a 26.5 per cent rise in organised retail crime in 2021 and a majority of respondents said that the pandemic has led to an increase in risks. What is causing this rise in violence and theft? The US Federal Reserve has announced consecutive interest rate hikes taking the number once close to zero to around 5.5 per cent over 18 months, which is the highest in 22 years. The higher interest rates have not only made it pricier to borrow funds for bigger purchases but also made it difficult for companies to expand while American consumers have been feeling the squeeze. Measures taken by the stores The rise in theft has prompted stores to install transparent walls with locks on shelves, sometimes padlocked chains on refrigerators, and scattering call buttons in aisles for staff, according to AFP. Additionally, stores also sparsely stock unprotected shelves. Some retailers have closed stores due to the rise in theft and lack of profitability. In 2021, Walgreens closed five stores in the US city of San Francisco due to theft. US shoppers are afraid Ann McGee, a New Yorker from the borough of Queens, told AFP that she doesn’t like the recent fear she has while shopping, amid a rise in theft. “It’s not normal to be scared” when shopping, McGee told the news agency. She has been a resident of the borough for more than four decades now and said she has recently been so concerned about her safety that she leaves her purse and jewellery – including her wedding ring – at home when she goes shopping. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

US retailers place toothpaste, chocolates and deodorant under lock and key. Here’s why

While the world grapples with the tremors of a banking crisis in the United States, India stands tall as a beacon of resilience and economic strength. Despite the challenges posed by external factors, India's growth trajectory remains steadfast, supported by a robust banking sector and a steadfast commitment to financial stability.

In its latest assessment cited by Reuters, the Reserve Bank of India (RBI) revealed that India's economy has sustained the growth momentum witnessed in the previous fiscal quarter of 2022-23. This steadfast progress is a testament to the country's ability to weather storms and adapt to shifting global dynamics.

With a keen focus on managing risks and enhancing governance, the RBI, India's central bank, convened a meeting with senior management of government-owned banks to reinforce the importance of prudence and preparedness. The central bank urged lenders to strengthen their boards and fortify risk management frameworks, ensuring the early identification of potential vulnerabilities.

Amidst a high growth in credit and a surge of over 15 percent in loan demand compared to the previous year, the RBI cautioned that such rapid expansion could expose banks to the risk of bad loans. However, it also emphasized the need for continued financial and operational resilience, highlighting India's proactive approach to risk management.

Domestic Surge Amid Global Downfall

India's services exports have demonstrated commendable growth, with March witnessing a 13.1 percent year-on-year rise to $30.48 billion. This positive trend continued in April, as provisional government data indicated a further increase to $30.36 billion. Such resilience in the services sector significantly contributes to India's economic stability, serving as a buffer against external volatilities.

While the US banking crisis sends ripples across the global financial landscape, India's banking system remains largely insulated. The country's prudent lending practices and diligent risk management have shielded it from the worst effects of the crisis, allowing it to maintain steady growth and protect the interests of depositors and borrowers.

India's commitment to capital expenditure and public spending further bolsters its economic resilience. With a renewed focus on investment activity, the nation is set to benefit from increased capital expenditure and moderation in commodity prices. These factors, coupled with a revival in rural demand and the buoyancy of manufacturing, contribute to India's positive growth outlook and ability to withstand external shocks.

Inputs from Reuters)

While the world grapples with the tremors of a banking crisis in the United States, India stands tall as a beacon of resilience and economic strength. Despite the challenges posed by external factors, India's growth trajectory remains steadfast, supported by a robust banking sector and a steadfast commitment to financial stability.

While the world grapples with the tremors of a banking crisis in the United States, India stands tall as a beacon of resilience and economic strength. Despite the challenges posed by external factors, India's growth trajectory remains steadfast, supported by a robust banking sector and a steadfast commitment to financial stability. In its latest assessment cited by Reuters, the Reserve Bank of India (RBI) revealed that India's economy has sustained the growth momentum witnessed in the previous fiscal quarter of 2022-23. This steadfast progress is a testament to the country's ability to weather storms and adapt to shifting global dynamics. With a keen focus on managing risks and enhancing governance, the RBI, India's central bank, convened a meeting with senior management of government-owned banks to reinforce the importance of prudence and preparedness. The central bank urged lenders to strengthen their boards and fortify risk management frameworks, ensuring the early identification of potential vulnerabilities. Amidst a high growth in credit and a surge of over 15 percent in loan demand compared to the previous year, the RBI cautioned that such rapid expansion could expose banks to the risk of bad loans. However, it also emphasized the need for continued financial and operational resilience, highlighting India's proactive approach to risk management. Domestic Surge Amid Global Downfall India's services exports have demonstrated commendable growth, with March witnessing a 13.1 percent year-on-year rise to $30.48 billion. This positive trend continued in April, as provisional government data indicated a further increase to $30.36 billion. Such resilience in the services sector significantly contributes to India's economic stability, serving as a buffer against external volatilities. While the US banking crisis sends ripples across the global financial landscape, India's banking system remains largely insulated. The country's prudent lending practices and diligent risk management have shielded it from the worst effects of the crisis, allowing it to maintain steady growth and protect the interests of depositors and borrowers. India's commitment to capital expenditure and public spending further bolsters its economic resilience. With a renewed focus on investment activity, the nation is set to benefit from increased capital expenditure and moderation in commodity prices. These factors, coupled with a revival in rural demand and the buoyancy of manufacturing, contribute to India's positive growth outlook and ability to withstand external shocks. Inputs from Reuters)

From Crisis to Confidence: RBI Says India's Growth Momentum Shines Bright

According to recent study, the cost of British essential foods like cheddar cheese, white bread, and porridge oats has increased dramatically since last year. The highest price increase was for cheddar cheese, which went up by an average of 28.3% across Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury's, Tesco, and Waitrose. According to Which?, the overall rate of food inflation increased further in March, rising to 17.2%% from 16.5% in February.

Prices of British food staples soar by up to 80%, biggest hike on white breads oats

In Argentina, the annual inflation rate has soared to a high of 104.3 per cent. The astounding high was revealed by the nation's official statistics agency on Friday. Reuters reports that this is one of the highest inflation rates in the world.&nbsp;Argentina's soaring prices have badly dented people's salaries and have pushed up poverty in the nation to 40 per cent.

Argentina, which is one of the world's major grain exporters, is currently grappling with one of the worst droughts in its history. The dry season has reportedly "hammered" soy, corn and wheat crops, and lost exports and falling domestic prices have knocked billions off the country's economy.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/uber-accused-of-charging-people-higher-prices-when-their-phone-battery-is-low-report-582509">Uber accused of charging customers more when their phone battery is low: Report</a>

"The number we see today represents the worst moment of the impact of the war on international prices and the worst drought in history in our country," said presidential spokeswoman Gabriela Cerruti on Twitter.

"We know, it hurts us, it occupies us, how this affects daily life and every family," she said adding that the government is "redoubling" its efforts and that they hoped a downward trend in inflation would be "reflected soon."

"In my case, I have zero capacity to save," said Claudia Hernansaez, a publishing company employee while talking to Reuters.

Also read |&nbsp;<a href="https://www.wionews.com/business-economy/pakistan-gets-a-step-closer-to-getting-imf-bailout-after-uae-saudi-arabia-pledge-billions-in-assistance-582451">Pakistan a step closer to getting IMF bailout after UAE, Saudi Arabia pledge billions in assistance</a>

The inflation rate for the month registered at 7.7 per cent, significantly exceeding the 7.1 per cent that analysts had anticipated, and making it the highest monthly growth since 2002. This puts additional strain on the government, which is confronted with agitated citizens prior to the October elections.

The inflationary crisis is Argentina's worst since 1991, a year that as per Reuters marked the end of a period of hyperinflation. With the increase in inflation, approval ratings for the nation's President Alberto Fernandez have taken hits and are currently hovering just above 20 per cent. Inflation is expected to be one of the deciding issues for voters in the upcoming October elections.

(With inputs from agencies) 
 
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In Argentina, the annual inflation rate has soared to a high of 104.3 per cent. The astounding high was revealed by the nation's official statistics agency on Friday.

In Argentina, the annual inflation rate has soared to a high of 104.3 per cent. The astounding high was revealed by the nation's official statistics agency on Friday. Reuters reports that this is one of the highest inflation rates in the world. Argentina's soaring prices have badly dented people's salaries and have pushed up poverty in the nation to 40 per cent. Argentina, which is one of the world's major grain exporters, is currently grappling with one of the worst droughts in its history. The dry season has reportedly "hammered" soy, corn and wheat crops, and lost exports and falling domestic prices have knocked billions off the country's economy. Also read | Uber accused of charging customers more when their phone battery is low: Report "The number we see today represents the worst moment of the impact of the war on international prices and the worst drought in history in our country," said presidential spokeswoman Gabriela Cerruti on Twitter. "We know, it hurts us, it occupies us, how this affects daily life and every family," she said adding that the government is "redoubling" its efforts and that they hoped a downward trend in inflation would be "reflected soon." "In my case, I have zero capacity to save," said Claudia Hernansaez, a publishing company employee while talking to Reuters. Also read | Pakistan a step closer to getting IMF bailout after UAE, Saudi Arabia pledge billions in assistance The inflation rate for the month registered at 7.7 per cent, significantly exceeding the 7.1 per cent that analysts had anticipated, and making it the highest monthly growth since 2002. This puts additional strain on the government, which is confronted with agitated citizens prior to the October elections. The inflationary crisis is Argentina's worst since 1991, a year that as per Reuters marked the end of a period of hyperinflation. With the increase in inflation, approval ratings for the nation's President Alberto Fernandez have taken hits and are currently hovering just above 20 per cent. Inflation is expected to be one of the deciding issues for voters in the upcoming October elections. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

Argentina annual inflation over 104%, poverty up by 40%, people report ‘zero capacity to save’

Food and energy prices have been soaring around the world as Russia’s war in Ukraine, the lingering effects of the COVID-19 pandemic and climate change-related events weigh on the global economy. Bangladesh, Pakistan and Africa — where the vast majority of the world’s Muslims live, are among the worst hit by price surges and shortages of key supplies.

How rising prices hurt Ramadan celebrations? | Details

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