Production of Paper Mache Christmas Ornaments - India

On December 18,2025 papier-mâché artists in Srinagar ,Jammu and Kashmir create Christmas decorations as the holiday season approaches. However, the industry faces fresh hurdles after the US increases import duties. Artisans fear that the higher tariffs will decrease demand for their products, particularly Christmas ornaments, which make up a large part of exports. Kashmir’s papier-mâché items are sent to markets in the US, Europe, Australia, and the UAE. Exporters warn that these higher costs could harm both sales and the livelihoods of local artisans.(Photo by Danish Showkat/Eyepix group)

Tokyo stocks end lower over higher Japanese interest rates

STORY: Tokyo stocks end lower over higher Japanese interest rates SHOOTING TIME: recent footage DATELINE: May 23, 2024 LENGTH: 00:01:13 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of street views in Tokyo 2. various of Tokyo Stock Exchange STORYLINE: Tokyo stocks closed lower on Wednesday, weighed down by concern over higher borrowing costs after Japan's benchmark bond yield touched the 1 percent threshold for the first time in around 11 years. Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended down 329.83 points, or 0.85 percent, from Tuesday at 38,617.10. The broader Topix index, meanwhile, finished 22.36 points, or 0.81 percent, lower at 2,737.36. The yield on Japan's benchmark 10-year government bond hit 1 percent on Wednesday for the first time since May 2013 amid speculation that the Bank of Japan is moving to normalize its monetary policy, sending stocks lower by fueling concern over higher borrowing costs, analysts said. Market watchers here noted stocks

U.S. tariff hikes on Chinese products misguided approach: expert

STORY: U.S. tariff hikes on Chinese products misguided approach: expert SHOOTING TIME: May 16, 2024 DATELINE: May 17, 2024 LENGTH: 00:01:32 LOCATION: DAR ES SALAAM, Tanzania CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of Chinese EVs 2. SOUNDBITE (English): BENJAMIN MGANA, Chief Editor of Foreign News at The Guardian, Tanzania 3. various of street views in U.S. STORYLINE: On Tuesday, the United States announced new tariffs on a variety of imports from China, including EVs, lithium batteries, and medical supplies. Tariffs on Chinese EVs jumped from 25 percent to a staggering 100 percent. An expert based in Tanzania criticized the U.S. decision, warning of its misguided nature and potential adverse repercussions. SOUNDBITE (English): BENJAMIN MGANA, Chief Editor of Foreign News at The Guardian, Tanzania "I think it is a misguided approach that could have several negative repercussions. Firstly, these tariffs will likely lead to higher costs for American consumers and businesses. Lithium batteries and e

Australian inflation rate slows to 3.6 pct

STORY: Australian inflation rate slows to 3.6 pct SHOOTING TIME: April 26, 2024 DATELINE: April 28, 2024 LENGTH: 0:02:07 LOCATION: Canberra CATEGORY: ECONOMY SHOTLIST: 1. various of a supermarket 2. various of street views in Australia STORYLINE: Australia's annual rate of inflation has fallen to 3.6 percent, according to official figures published by the Australian Bureau of Statistics (ABS) on Wednesday. The figure showed that the consumer price index (CPI) rose by 1.0 percent in the first three months of 2024 and 3.6 percent in the 12 months to the end of March. It marks a fall from a 4.1 percent rise in the CPI in the 12-month period to the end of December 2023. The ABS identified rising costs of education, health, housing, food and non-alcoholic beverages as the most significant drivers of inflation in the first quarter of 2024. Housing prices were 0.7 percent higher at the end of March than at the start of 2024 and 4.9 percent higher than 12 months earlier. Education costs rose 5.

Inflation in Sweden slows down in March

STORY: Inflation in Sweden slows down in March SHOOTING TIME: April 12, 2024 DATELINE: April 13, 2024 LENGTH: 00:01:30 LOCATION: Stockholm CATEGORY: ECONOMY SHOTLIST: 1. various of Statistics Sweden (SCB) 2. various of supermarkets 3. various of Stockholm's streets STORYLINE: Inflation in Sweden slowed from 4.5 percent in February to 4.1 percent in March, Statistics Sweden (SCB) said on Friday. Mikael Nordin, a statistician at SCB, said that the cost of certain goods had decreased from the same period last year. SCB said that inflation, measured as the Consumer Price Index (CPI), was mainly driven by mortgage costs rising by 39.3 percent for apartment owners. Meanwhile, tenants paid 5 percent higher rents for their apartments than a year earlier. However, increasing housing costs were offset by cheaper diesel and electricity -- down by 17.5 percent and 9.1 percent respectively year-on-year, SCB said. Besides increased lending costs due to the Swedish central bank raising the benchmark interest rate f

Japan's 2023 core inflation hits 41-year high

STORY: Japan's 2023 core inflation hits 41-year high SHOOTING TIME: Jan. 19, 2024 DATELINE: Jan. 19, 2024 LENGTH: 00:01:49 LOCATION: Tokyo CATEGORY: ECONOMY SHOTLIST: 1. various of cities in Japan STORYLINE: Japan's core consumer prices rose 3.1 pct in 2023 from the previous year, marking the fastest growth in 41 years, the government said in a report on Friday. The core consumer price index (CPI) for the year, excluding fresh food prices because of their volatility, came in at 105.2 against the 2020 base of 100, with its pace of increase fastening from 2.3 percent in 2022, according to the Ministry of Internal Affairs and Communications. The yearly increase, which remained above the Bank of Japan's 2 percent inflation target for the second consecutive year, marked the highest level since 1983. It came despite government subsidies to lower household utility bills, underscoring higher import costs that were inflated by a sharp drop of the yen, a byproduct of the Bank of Japan's monetary easing,

Israeli gov't approves revised budget with more defense spending

STORY: Israeli gov't approves revised budget with more defense spending SHOOTING TIME: Jan. 15, 2024 DATELINE: Jan. 16, 2024 LENGTH: 00:01:20 LOCATION: GAZA, Palestine/Jerusalem CATEGORY: POLITICS/MILITARY SHOTLIST: 1. various of Gaza-related footage 2. STANDUP 1 (English): WANG ZHUOLUN, Xinhua correspondent in Jerusalem 3. STANDUP 2 (Arabic): OSAMA KAHLOT, Xinhua reporter in Deir Al-Balah STORYLINE: STANDUP 1 (English): WANG ZHUOLUN, Xinhua correspondent in Jerusalem "On Monday evening, the Israeli cabinet passed an amended 2024 state budget, adding about 15 billion U.S. dollars (55 billion shekels) of extra spending, including money for defense and compensation for those impacted by the war." The original budget for 2024 was approved by parliament in May 2023, but the conflict with Hamas that began last October prompted a new budget to cover the higher costs. The ministry said all ministries' budgets were cut because of the high military spending. The total updated budget of 582 billion sheke

Higher interest rates "important driver" of global debt growth: IMF fiscal chief

STORY: Higher interest rates "important driver" of global debt growth: IMF fiscal chief DATELINE: Oct. 14, 2023 LENGTH: 0:03:04 LOCATION: Washington D.C. CATEGORY: ECONOMY SHOTLIST: 1. SOUNDBITE (English): VITOR GASPAR, Director of IMF's fiscal affairs department STORYLINE: An International Monetary Fund (IMF) senior official has said that with global public debt projected to grow faster, higher interest rates have been pushing up borrowing costs, becoming an important driver of public debt dynamics. SOUNDBITE 1 (English): VITOR GASPAR, Director of IMF's fiscal affairs department "Global public debt went up quite a lot in the year of the pandemic 2020. Then given very strong catch-up growth from the contraction in the pandemic plus inflation surprises, it came sharply down in 2021 and 2022. But as you said, public debt ratios are now higher and they're projected to grow faster than under pre-pandemic projections." According to the newly released IMF's Fiscal Monitor, total debt liabilities of governments

Norway's central bank raises policy rate to 4.25 pct

STORY: Norway's central bank raises policy rate to 4.25 pct DATELINE: Sept. 22, 2023 LENGTH: 00:01:31 LOCATION: Oslo CATEGORY: ECONOMY SHOTLIST: 1. various of Norges Bank 2. various of a press conference held in Norges Bank 3. various of Norges Bank STORYLINE: Norges Bank, Norway's central bank, on Thursday increased its benchmark interest rate from 4.0 percent to 4.25 percent to curb inflation. Norges Bank Governor Ida Wolden Bache told reporters that the country's current inflation rate remains significantly above the targeted 2 percent. In Norway, prices have increased for a range of goods and services. According to official figures, the 12-month rise in the consumer price index (CPI) was 4.8 percent in August, higher than expected. "Persistently high inflation imposes substantial costs on society. A somewhat higher interest rate is imperative to align inflation with the target within a feasible timeframe," Bache said. She said challenges prevail in the labor market with its continuing tightness. In

China's inflation remains flat, foreign trade shows resilience

STORY: China's inflation remains flat, foreign trade shows resilience DATELINE: June 9, 2023 LENGTH: 00:01:26 LOCATION: Beijing CATEGORY: ECONOMY SHOTLIST: 1. various of city scenes in China 2. various of factories 3. various of people shopping 4. various of city scenes in China 5. various of ports STORYLINE: China's inflation stays flat as the consumer price index (CPI) for May edged up 0.2 percent year on year, marking a higher increase compared to April's 0.1 percent, according to the data released Friday by the National Bureau of Statistics (NBS). Meanwhile, the country's producer price index (PPI), which measures costs for goods at the factory gate, went down 4.6 percent year on year in May. According to the bureau, the decrease expanded by 1 percentage point from that in April. Statisticians with the bureau attributed the decline to an overall downward trend in international commodity prices, weak demand in domestic and foreign industrial product markets, and the high comparison base during th

UK inflation unexpectedly jumps to 10.4 pct: ONS

STORY: UK inflation unexpectedly jumps to 10.4 pct: ONS DATELINE: March 23, 2023 LENGTH: 00:03:40 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. various of supermarket and farm market in London STORYLINE: The United Kingdom's (UK) consumer price index (CPI) rose to 10.4 percent in the 12 months to February 2023 from 10.1 percent in January, the Office for National Statistics (ONS) said on Wednesday. The 10.4 percent rise was higher than the 9.9 percent forecast by economists polled by Reuters, dampening expectations for a marked drop in inflation. Inflation had been falling from the 41-year-high of 11.1 percent in October 2022 for three months. Commenting on the CPI figures, ONS chief economist Grant Fitzner said that inflation was mainly driven by "rising alcohol prices in pubs and restaurants following discounting in January." "Food and non-alcoholic drink prices rose to their highest level in over 45 years with particular increases for some salad and vegetable items as high energy costs and

Inflation in Laos climbs to 39.3 pct in December

STORY: Inflation in Laos climbs to 39.3 pct in December DATELINE: Jan. 9, 2023 LENGTH: 0:01:55 LOCATION: Vientiane CATEGORY: ECONOMY SHOTLIST: 1. various of the Central Bank of Laos 2. various of the market STORYLINE: Inflation in Laos increased to 39.3 percent year-on-year in December, the highest rate of 2022, according to a report issued by the Lao Statistics Bureau on Saturday. The year-on-year inflation rate in Laos increased from 38.46 percent in November to 39.3 percent in December. The higher prices of the communications and transport, consumer goods and the continuing depreciation of the Lao currency kip are among the main factors driving inflation. According to the report, costs in the communications and transport category rose by 50.4 percent year-on-year in December. The price of food and non-alcoholic beverages has surged by 45.9 percent. In addition, the cost of the housing category surged by 32.1 percent. The cost of medical care and medicine increased by 42.1 percent. Meanwh

Chinese companies strengthen cross-border trade, investment through RCEP

STORY: Chinese companies strengthen cross-border trade, investment through RCEP DATELINE: Jan. 8, 2023 LENGTH: 00:01:46 LOCATION: NANNING, China CATEGORY: ECONOMY SHOTLIST: 1. various of China 2. SOUNDBITE 1 (Chinese): DU PENGQING, Director of international strategy, Guangxi Liugong Machinery Co., Ltd. 3. various of Nanning Customs 4. SOUNDBITE 2 (Chinese): ZHAO HUI, Overseas project director, Guangxi Tus Innovation Cross-border E-commerce Co., Ltd. STORYLINE: Since the Regional Comprehensive Economic Partnership (RCEP) trade pact, the world's largest free trade deal, entered into force a year ago, many Chinese companies have strengthened cross-border trade and investment with reduced costs and higher efficiency. In the first 11 months of 2022, Nanning Customs in south China's Guangxi Zhuang Autonomous Region issued 1,696 certificates of origin under the RCEP, with a value of 754 million yuan. As the RCEP reduces the export costs, enables products to have greater price advantages, and increases the numbe

Kansai Electric applies for fresh utilities rate hike

TOKYO, Japan - Kansai Electric Power Co. President Makoto Yagi meets with reporters at the Ministry of Economy, Trade and Industry in Tokyo on Dec. 24, 2014, after the company applied for a fresh electricity rate hike, seeking to increase bills for households by 10.23 percent on average from April amid higher fossil fuel costs after its nuclear reactors were idled.

Uniqlo to raise prices amid higher costs

TOKYO, Japan - Shoppers walk in front of a Uniqlo outlet in Tokyo's Ginza commercial district on June 10, 2014. The apparel chain owned by Fast Retailing Co. will raise prices for upcoming autumn and winter garments by about 5 percent.

TEPCO logs 299 bil. yen group net loss for 2nd qtr

TOKYO, Japan - Tokyo Electric Power Co. President Naomi Hirose speaks about the outlook for fiscal 2012 ending March 31 at the company's head office in Tokyo on Oct. 31, 2012. The utility known as TEPCO reported a group net loss of 299.48 billion yen for the April to September half, pressured by higher fossil fuel costs to make up for the halt in nuclear power generation following the disaster at its Fukushima Daiichi complex in 2011.

Nissan president Ghosn

TOKYO, Japan - Nissan Motor Co. President Carlos Ghosn speaks during an interview in Yokohama on May 13, 2011. Ghosn said the automaker will maintain its goal of manufacturing 1 million vehicles annually in Japan despite higher domestic production costs following the March 11 earthquake and tsunami disaster.

Geothermal generation sluggish with higher costs

HACHIMANTAI, Japan - Japan's first commercial geothermal plant, Matsukawa Geothermal Plant in Hachimantai, Iwate Prefecture. This photo was taken on July 27.

Honda's net profit down 5.4% for April-June

TOKYO, Japan - Honda Motor Co. Vice President Koichi Amamiya (L) speaks at a news conference in Tokyo on July 29. Honda said its group net profit for the April-June period dropped 5.4% from a year earlier to 101.92 billion yen due to a higher yen and increased marketing and management costs.

S.Korea's current account surplus drops in September

STORY: S.Korea's current account surplus drops in September DATELINE: Nov. 9, 2022 LENGTH: 0:01:50 LOCATION: Seoul CATEGORY: ECONOMY SHOTLIST: 1. various of the Bank of Korea (Xinhua) 2. various of Seoul urban landscape (Yonhap TV) 3. various of port (Yonhap TV) 4. various of companies (Yonhap TV) STORYLINE: South Korea's current account surplus dropped in September due to soaring import costs, driven by higher energy prices, as well as export fall, central bank data showed Tuesday. Current account balance, the broadest measure of cross-border trade, recorded a surplus of 1.61 billion U.S. dollars in September, down from a surplus of 10.51 billion dollars tallied in the same month of last year, according to the Bank of Korea (BOK). Trade balance for goods logged a surplus of 490 million dollars in September, sharply down from a surplus of 9.55 billion dollars a year earlier. Import costs jumped in recent months as the prolonged geopolitical risks in Europe propped up energy prices. Import a

New Zealand households face rising cost of living

STORY: New Zealand households face rising cost of living DATELINE: Oct. 26, 2022 LENGTH: 00:01:16 LOCATION: Wellington CATEGORY: ECONOMY SHOTLIST: 1. various of street views of Wellington 2. various of people shopping in supermarkets and malls 3. various of street views STORYLINE: The cost of living for the average household increased by 7.7 percent year on year, with increasing prices widely felt across all household groups in the September 2022 quarter, New Zealand's statistic department Stats NZ said on Wednesday. All household groups faced their highest annual cost-of-living increase since the series began in 2008, Stats NZ said. "Higher prices for housing and food were the main contributors to the increase across all the household groups," consumer prices manager Katrina Dewbery said in a statement. Each quarter, the household living-costs price indexes (HLPIs) measure how inflation affects 13 different household groups, plus an all-households group, or the average household. The consumer price in

World Bank downgrades India's growth forecast to 6.5 pct

STORY: World Bank downgrades India's growth forecast to 6.5 pct DATELINE: Oct. 7, 2022 LENGTH: 0:01:31 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of banks 2. various of shopping mall STORYLINE: The World Bank on Thursday downgraded India's economic growth forecast to 6.5 percent for the current fiscal year (2022-23) from its earlier estimate of 7.5 percent announced in June. The international financial institution cited the deteriorating international environment for the downgrade. "The Indian economy will slow down in FY23, coming off a strong but incomplete recovery in FY22 (April 2021-March 2022). The spillovers from the Russia-Ukraine war and the global monetary policy tightening cycle weigh on India's economic outlook," the report said. Elevated inflation on the back of higher prices of key commodities, heightened global uncertainty, and rising borrowing costs will affect domestic demand while slowing global growth inhibits India's export growth, it said. In its biannual report on

Italian inflation climbs to record high in September

STORY: Italian inflation climbs to record high in September DATELINE: Oct. 5, 2022 LENGTH: 00:01:16 LOCATION: Rome CATEGORY: ECONOMY SHOTLIST: 1. various of people shopping in the supermarket STORYLINE: The consumer price index in Italy set a new record by rising 8.9 percent in September compared to the same month in 2021, the largest year-on-year increase recorded since the creation of the euro currency. The previous record was set a month earlier, when prices climbed 8.4 percent between August 2021 and August of this year. So far, the four largest year-on-year increases in Italy's inflation rate have all been recorded over the last four months. According to Italy's National Statistics Institute (ISTAT), the country's inflation rate over the first nine months of the year was 7.1 percent higher than the same period a year earlier. The main factors pushing prices higher are direct and indirect energy-related costs. While prices for energy goods were 44.5 percent higher in September than in the same

UK inflation hits successive new highs

STORY: UK inflation hits successive new highs DATELINE: Sept. 1, 2022 LENGTH: 00:06:27 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1. STANDUP (English): ZHAO XIAONA, Xinhua correspondent 2. SOUNDBITE (English): FRANCIS, London resident 3. SOUNDBITE (English): KIKI, London resident 4. various of the UK supermarkets STORYLINE: STANDUP (English): ZHAO XIAONA, Xinhua correspondent "Inflation in Britain has hit successive new highs this year. The annual CPI surged by 10.1 percent in July, the highest level in 40 years. However, higher energy prices are expected to push the UK's inflation to 13 percent in the fourth quarter of 2022. An official report in August said, around nine in 10 adults reported their cost of living had risen. Around three-quarters of adults reported being very or somewhat worried about rising costs of living." Experts warned that inflation could rise even further, alongside a huge increase in the energy price cap. In late August, Britain's energy regulator announced that, the cap for av

Bangladesh hikes fuel prices to highest in history

STORY: Bangladesh hikes fuel prices to highest in history DATELINE: Aug. 7, 2022 LENGTH: 00:03:25 LOCATION: Dhaka CATEGORY: ECONOMY SHOTLIST: 1. various of gas stations in Bangladesh STORYLINE: Bangladesh's retail fuel prices have been hiked to levels not seen since the country's independence in 1971. The Bangladeshi government Friday night hiked the fuel prices by up to 51.7 percent with effect from Saturday. According to a price notification from the Ministry of Power, Energy and Mineral Resources, a liter of octane now costs 135 taka (1.43 U.S. dollars), which is 51.7 percent higher than the previous rate of 89 taka (0.94 dollars). The prices of diesel and kerosene have been increased by 42.5 percent to 114 taka (1.20 dollars) per liter. Also, each liter of petrol now costs 130 taka (1.37 dollars), a rise of 44 taka or 51.1 percent, said the press release. Officials said the latest price hikes at the retail level were inevitable to reduce the subsidy burden on state-run distribution companies. Als

Tunisian families struggle to buy sheep before Eid al-Adha with shrinking purchasing power

STORY: Tunisian families struggle to buy sheep before Eid al-Adha with shrinking purchasing power DATELINE: July 5, 2022 LENGTH: 0:01:24 LOCATION: Tunis CATEGORY: ECONOMY/SOCIETY SHOTLIST: 1. various of a sheep market in Tunis STORYLINE: Due to the sluggish economy in Tunisia and the hiking prices of daily necessities, many families cannot afford to buy live sheep ahead of the upcoming Eid al-Adha, or the Feast of the Sacrifice. According to local custom, each family should buy a live sheep to slaughter during the important festival. In order to prevent sellers from sharply rising prices, the Tunisian government announced in June to put a limit on the average price of live sheep. A sheep costs 200 to 300 U.S. dollars in local markets and it is about 10 percent higher than last year. The purchasing power of local families has generally declined due to various factors. Many Tunisian families have decided to buy sheep together for the festival. Xinhua News Agency correspondents reporting from Tunis. (XHTV

SOUTH KOREA-SEOUL-INFLATION

(220705) -- SEOUL , July 5, 2022 (Xinhua) -- A man pumps diesel oil at a self-service gasoline station in Seoul, South Korea, June 10, 2022. South Korea's headline inflation hit the highest in nearly 24 years in June owing to surging energy prices and higher eating-out costs, statistical office data showed Tuesday. (Xinhua/Wang Yiliang)

SOUTH KOREA-SEOUL-INFLATION

(220705) -- SEOUL , July 5, 2022 (Xinhua) -- People shop at a supermarket in Seoul, South Korea, June 5, 2022. South Korea's headline inflation hit the highest in nearly 24 years in June owing to surging energy prices and higher eating-out costs, statistical office data showed Tuesday. (Xinhua/Wang Yiliang)

SOUTH KOREA-SEOUL-INFLATION

(220705) -- SEOUL , July 5, 2022 (Xinhua) -- A woman shops at a supermarket in Seoul, South Korea, July 5, 2022. South Korea's headline inflation hit the highest in nearly 24 years in June owing to surging energy prices and higher eating-out costs, statistical office data showed Tuesday. (Xinhua/Wang Yiliang)

SOUTH KOREA-SEOUL-INFLATION

(220705) -- SEOUL , July 5, 2022 (Xinhua) -- A woman shops at a supermarket in Seoul, South Korea, July 5, 2022. South Korea's headline inflation hit the highest in nearly 24 years in June owing to surging energy prices and higher eating-out costs, statistical office data showed Tuesday. (Xinhua/Wang Yiliang)

SOUTH KOREA-SEOUL-INFLATION

(220705) -- SEOUL , July 5, 2022 (Xinhua) -- Photo taken on July 5, 2022 shows the price board at a gas station in Seoul, South Korea. South Korea's headline inflation hit the highest in nearly 24 years in June owing to surging energy prices and higher eating-out costs, statistical office data showed Tuesday. (Xinhua/Wang Yiliang)

Turkey's farmers "desperate" for support as costs soar

STORY: Turkey's farmers "desperate" for support as costs soar DATELINE: May 14, 2022 LENGTH: 00:03:12 LOCATION: Ankara CATEGORY: POLITICS/ECONOMY SHOTLIST: 1. various of farmers working in the fields 2. STANDUP (English): BURAK AKINCI, Xinhua reporter 3. SOUNDBITE (Turkish): VELI GELEN, Turkish farmer STORYLINE: Turkey's agricultural producers are grappling with soaring cost increases that threaten further blows to the country's food production amid an already galloping inflation. STANDUP (English): BURAK AKINCI, Xinhua reporter "Turkey's farmers are not immune to hardships caused by skyrocketing inflation which has reached almost 70 percent annually in April. The agriculture sector which employs over half a million people in the country, is in the grip of economic hardships, higher production costs, and a less income, ringing alarm bells for food security. Food inflation has seen a worrying trend, dealing heavy blows to the populace in a country where food accounts for 25 percent of household spending. T

Kenyans feel pinch facing steep rise in food prices

STORY: Kenyans feel pinch facing steep rise in food prices DATELINE: March 28, 2022 LENGTH: 00:02:05 LOCATION: Nairobi CATEGORY: ECONOMY/SOCIETY SHOTLIST: 1. various of Toi market in Nairobi 2. STANDUP 1 (English): LIU CHANG, Xinhua correspondent 3. SOUNDBITE (English): FRANCIS NDEGE, Owner of cereal store 4. various of cereal stores and other agricultural commodities 5. STANDUP 2 (English): LIU CHANG, Xinhua correspondent STORYLINE: STANDUP 1 (English): LIU CHANG, Xinhua correspondent "Kenyans are caught in a grip of higher food prices brought about by a combination of adverse weather, rising input costs, which have been worsened by the Ukraine crisis. The prices for the staple commodities in the food basket used to compute inflation by the Kenya National Bureau of Statistics, such as maize flour, wheat flour, Irish potatoes, onions, tomatoes, cabbages, kales, and cooking oil, rose by an average of 20 percent in January 2022 compared to the same period in 2021. By the end of February 2022, 3.1 million Ken

BRITAIN-INTEREST RATE-RAISE

(220319) -- MANCHESTER, March 19, 2022 (Xinhua) -- Notes and coins are seen in a family in Manchester, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- A woman shops in a supermarket in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- A woman walks past discount signs of a shop in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- MANCHESTER, March 19, 2022 (Xinhua) -- An energy meter, an electricity bill and some notes are seen in a family in Manchester, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- A woman stands near a discount sign of a shop in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- Parts of shelves in a supermarket have been left bare in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- Parts of shelves in a supermarket have been left bare in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- MANCHESTER, March 19, 2022 (Xinhua) -- A woman displays an energy bill in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- People shop in a supermarket in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- People shop in a supermarket in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- A man walks past a job centre in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

BRITAIN-INTEREST RATE-RAISE

(220319) -- HUYTON, March 19, 2022 (Xinhua) -- A woman walks past a discount sign of a shop in Huyton, Britain, March 18, 2022. Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The Bank's Monetary Policy Committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. (Photo by Jon Super/Xinhua)

Britain's BoE raises interest rate to 0.75 pct

STORY: Britain's BoE raises interest rate to 0.75 pct DATELINE: March 18, 2022 LENGTH: 0:00:40 LOCATION: London CATEGORY: ECONOMY SHOTLIST: 1 various of the Bank of England 2 various of the financial areas in London STORYLINE: Britain's central bank, the Bank of England (BoE), has once again lifted the benchmark interest rate to 0.75 percent in a move to combat the rising inflation, according to a BoE statement on Thursday. The Bank's Monetary Policy Committee (MPC) met on Wednesday and voted by a majority of 8-1 to increase the Bank Rate by 0.25 percentage points. The BoE has raised borrowing costs several times since December to bring down the country's soaring inflation, which reached a 30-year high of 5.5 percent in January. The committee expected Britain's inflation to grow further in the coming months, to around 8 percent in the second quarter in 2022, and perhaps even higher later this year. The MPC said the Russia-Ukraine conflict has "led to further large increases in energy and ot

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