The Iranian government has approved major price hikes of four basic food items.

Iranian government hands out $1.5 billion worth of cash subsidy to over 23.6 million households.

Britain is facing its biggest cost-of-living crisis in decades amid warnings of civil unrest if the government fails to act decisively to alleviate the situation for the most vulnerable.

Thousands of people from all over Spain take part in a demonstration to demand a plan from the government to tackle the high costs and low profitability of the countryside and agricultural sectors.

Finance ministers warn sanctions being imposed on Russia over the conflict in Ukraine will severely damage the EU's economy for an unknown period of time.Fuel and food prices are set to rise even more sharply than they already have.

Iran orders meat imports of up to 10,000 metric tons to control surging domestic prices.

Iran orders immediate imports for rice and potato to tackle rising prices in domestic market.