The IMF expects the inflation rate in Iran to drop to around 30% in 2024.

Britons are struggling to make ever increasing mortgage repayments due to a rise in benchmark borrowing costs which has pushed up monthly mortgage payments, while the Eurozone suffers stagflation.

Eurozone inflation, having reached 6.1% in May, more than three times its longtime target rate of 2%, has wreaked havoc amongst the working class, with food prices, for instance, currently 17% higher than a year ago.

The Republican-led House of Representatives has passed a bill that would boost the US $31.4 trillion federal debt ceiling in exchange for slashing government spending.

Consumer prices rose by 45.8% in Iran in the year to late March, according to government figures.

May Day protests turn violent as hundreds of thousands of people marched in cities around France to vent their anger against President Emmanuel Macron and his Pension Reform

US consumer spending increased by the most in nearly two years in January amid a surge in wage gains, while inflation accelerated.