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world news Saturday 7 January 2023

Europe’s inflation slows again but cost of living still high

(AP) — Europe ended a Natural gas prices have vices and goods such as
bad year for inflation with slipped from all-time highs clothing, appliances, cars
some relief as price gains this summer as Europe has and computers. Colijn and
eased again. While the cost largely filled its storage for other economists said that
of living is still painfully high, winter with supplies from means European Central
the slowdown is a sign that other countries while warm- Bank officials will likely roll
the worst might be over for er-than-usual weather has out more interest rate hikes
weary consumers. reduced fears of a short- to get inflation back to their
The consumer price index age during the heating 2% target.
for the 19 countries that season. Food price gains, Soaring costs for energy
used the euro currency the other big factor that's and food have threatened
rose 9.2% in December been driving up European a recession and fed labor
from a year earlier, the inflation, held fairly steady. unrest as wages fail to keep
slowest pace since August, Prices for food, alcohol and pace with the price rises.
the European Union statis- tobacco rose at a 13.8% Across Europe, subway
tics agency Eurostat said annual pace in December, staff, hospital workers, train A woman walks with purchases past a store in Berlin, Germany,
Friday. Croatia joined the a smidgen higher than the drivers, postal workers and Friday, April 1, 2022. Europe ended a bad year for inflation with
eurozone on Jan. 1. month before. air traffic controllers have some relief as price gains eased again, though they still rose a
It was the second straight Inflation also has been gone on strike, threatening painful 9.2% in December, according to data released Friday,
Jan. 6, 2023.
decline in inflation since worsened by bottlenecks political turmoil. (AP Photo/Pavel Golovkin, File)
June 2021. In November, in supplies of raw materials In a sign that energy costs
the rate dipped to 10.1% and parts amid rebounding remain a worry for politi- said. The French govern- benchmark rate by half
after peaking at a re- global consumer demand cal leaders, French Presi- ment has capped natural a point, slowing its record
cord 10.6% in the previous after COVID-19 pandemic dent Emmanuel Macron gas and electricity price pace of interest rate in-
month. Households and restrictions ended. on Thursday urged energy hikes to 15% this year for creases slightly but promis-
businesses across Europe "It is likely that the peak in suppliers to renegotiate consumers and some very ing that more hikes are on
have been plagued by inflation is behind us now, what he called "abusive small companies that don't the way. It matched ac-
surging energy costs since but far more relevant for contracts" with small busi- use much energy. But more tions taken by counterparts
Russia launched its war in the economy and policy- nesses to ensure "reason- energy-intensive business- in the U.S., United Kingdom
Ukraine in February, which makers is whether inflation able" price hikes. es, like bakeries, aren't cov- and elsewhere.
played havoc with oil and will structurally trend back Macron spoke to bakers ered, leaving some of them "The eurozone economy
natural gas markets and to 2% from here on," said gathered at the presiden- facing closure because is at best stagnating, and
have been the main driver Bert Colijn, senior eurozone tial palace for a traditional they can't pay their bills. persistently strong core in-
of inflation. economist at ING Bank. Epiphany kings cake cer- While governments have flation means the ECB will
The latest numbers indicate So-called core inflation, emony, underscoring how offered relief on high en- feel duty bound to press on
that the energy crisis may which excludes volatile energy and food prices are ergy bills, central banks are with its tightening cycle for
be easing for now. Energy food and energy costs, intertwined. battling inflation by hiking a while yet," said Andrew
price rises slowed to 25.7%, climbed to 5.2% last month "Like you, I've had enough interest rates. Kenningham, chief Eu-
down from 34.9% in Novem- from November's 5%, as of people making exces- Last month, the Europe- rope economist for Capital
ber and 41.5% in October. prices rose for both ser- sive profits on the crisis," he an Central Bank raised its Economics.q

Philippines seeks to cleanse police

force of drug ties

(AP) — The Philippines' inte- More than a dozen police of fabricating evidence to
rior secretary announced officers were arrested or re- make it appear that victims
Wednesday he has asked lieved from their posts and violently resisted arrest.
all police generals and put under investigation last In November, Philippine
full colonels to submit their year for their involvement National Police Chief Ro-
courtesy resignation to or suspected involvement dolfo Azurin Jr. said he di-
clean the ranks of ties to il- in the drug trade. Abalos rected law enforcers to
legal drugs. cited a recent case of law minimize killings of people
Around 300 officers are enforcers selling drugs in engaged in drug activities.
covered by the directive, their office. Abalos said it's difficult to
which was recommend- The Philippine Drug En- fight a war against illegal
ed by the national police forcement Agency was drugs if supposed allies
chief, who will also submit also subject to raids, arrests could shoot your back,
his courtesy resignation, In- and dismissals in recent and the resignations aim to
terior Secretary Benjamin months. prevent erring officers from
Abalos Jr. said in a news Former President Rodrigo covering their tracks or fil-
conference. Duterte has earned inter- ing trumped-up charges.
"It appears that there is a national condemnation A committee will be formed
In this photo provided by the Department of Interior and big problem in our police for his lethal war on drugs, to review the records of po-
Local Government Photo, Interior Secretary Benjamin force. It appears there are which — according to po- lice officials to determine if
Abalos Jr. speaks during a news conference in Quezon generals and colonels in- lice data — left over 6,200 they are involved in the il-
City, Philippines Wednesday, Jan. 4, 2023. The Philippines’ volved in drugs," he said. suspects dead. Human legal drug trade, he said,
interior secretary announced Wednesday he has asked all "We need to clean our rights groups have cited adding that those who are
police generals and full colonels to submit their courtesy
resignation to clean the ranks of ties to illegal drugs. ranks. We need the trust of higher death tolls and ac- not involved have nothing
(Department of Interior and Local Government Photo via AP) the people." cused some police officers to worry about. q