right now, it sits somewhere around 4%. that s certainly better than where it was last year. somewhere above 8.5% but it is still not good enough. and it s why the fed chair jerome powell has said more interest rate hikes seem pretty likely. in may the 12 month change in the cpi came in at 4.0% and the change in the core cpi was 5.3%. inflation has moderated somewhat since the middle of last year. nonetheless, inflation pressures continue to run high and the process of getting inflation back down to 2% has a long way to go. the theory is by making it more expensive to borrow money it should cool off the economy. and ten rate hikes later, that tactic seems to be working. of course, the danger is the us economy could fall into a recession. those hawkish comments by mr powell had certainly weighed on investor minds. spell, likewise on wall street on wednesday. still staying on the topic of interest rates, it s going to be a busy day for monetary policymakers here in southeast as
remains elusive. the federal reserve likes to keep inflation hovering around 2%. right now it sits somewhere around 4%. that certainly better than where it was last year. somewhere above 8% for that but it is still not good enough. and it s why the fed chair jerome powell has said more interest rate hikes seem pretty likely. in interest rate hikes seem pretty likel . ., interest rate hikes seem pretty likel . . ., likely. in made the 12 month chance likely. in made the 12 month change in likely. in made the 12 month change in the likely. in made the 12 month change in the cpi likely. in made the 12 month change in the cpi came - likely. in made the 12 month change in the cpi came in i likely. in made the 12 month change in the cpi came in at| change in the cpi came in at 4-~0% change in the cpi came in at 4-~0%and change in the cpi came in at 4 .0% and the change in the core 4 .0% and the change in the core cpi 4 .0% and the change in the core cpi was 5.3%. in
a month ago we learned it had fallen to 8.7%, but food price inflation was over twice that, hurting many consumers even harder. one pizzeria owner, sergio from brighton, has been telling the bbc how inflation has been affecting his business costs that he has to pass onto consumers. we noticed that, after the first lockdown, let s say the tomato went from £20 per case to 25, and today reached £39 per case. bags of flour from £20, £21 per bag now we paid £32 per bag. another thing that is affecting is the salaries, as well the wages went up. the minimum wage is growing year by year. and this year, i think was 9% more for the minimum. so everything is affecting the price of our pizza. that is a business meant sharing impact on him. now, another area where many british households are facing the pinch is in housing costs. one mp is warning a mortgage time bomb is about to explode with mortgage rates rising. for those who are renting, many pay more still with the ave
a serious dark place. stage 4 load shedding will continue to be implemented until further notice. it says that stage 6 will be implemented at 8pm tonight until 5am. how did it come to this? south africa, the continent s great economic powerhouse, is in deep trouble. long daily power cuts injohannesburg and across the country. dawn, and the traffic lights are still not working. this is alexandra township, a poor neighbourhood on the edge ofjohannesburg. every day here, the power goes out, sometimes for four hours, sometimes for eight or more. officially, it s called load shedding which sounds almost helpful, almost pleasant but the truth is that these power cuts are having a devastating impact in a country with a stagnant economy and soaring unemployment. and it s particularly in poor neighbourhoods like this one that the effects are being felt the most. suzeke mousa has run this bar for 25 years. we don t have money because of the power, because of the electricity. you ca
world tour have agreed to a shock merger with the saudi backed liv golf. this comes despite the pending litigation between pga and liv. that will now be halted as they move forward as part of the same enterprise. over the past year liv golf caused huge disruption in the men s game, with top players such as rory mcllroy and tiger woods boldly criticising it. but other players such as brooks koepka joined liv golf for large sums with the backing of the saudi arabia public investment fund. the bbc s golf correspondent iain carter believes it is the big investment being offered that has made this deal possible. players can get along fine when they are playing for the biggest prizes. money is the massive driver here, the likes of rory mcilroy and the establishment from the live setup, they used to be west friends. michael roy was a groomsmen at garcia s wedding. they now do not speak. but that sort of thing will be shoved to one side. what we wait to see is what shape men s golf t