so let s get down to business and we begin in the us where the world s most powerful central bank wraps up its monthly meeting later. it s a given the federal reserve will increase the cost of borrowing. the question is by how much. with recent inflation data flashing red the sentiment on wall street has been grim. on monday the s&p 500 entered a bear market after the index fell by more than 20% from january s recent high. our north america business correspondent, michelle fleury, has more from new york. this minnesota petrol station is letting customers know they share their frustration. skyrocketing fuel prices have helped drive up inflation, currently at a a0 year high. customers, our car coming up, ate her at her corolla and gets fuel and at $80, you can t know how much it hits home to people. how much it hits home to ”eole. ,, . , how much it hits home to n-eole. , . , ,, people. gas prices in the us hit a record people. gas prices in the us hit a record of people.
join us coming up. john: first fox news alert to an economy in crisis. americans crushed on high prices from gas to food while their retirement accounts evaporate. growing concerns a dramatic move by the fed on interest rates could send the economy spiralling into recession. john roberts in washington. sandra. great to have you back. sandra: i am sandra smith in new york. this is america reports. we are watching all of this, brand-new numbers today from may painting a bleak picture of the american economy. consumer and producer prices still skyrocketing, and hitting record highs. all has major implications for your wallet as those producers that are facing higher costs plan to pass those higher numbers down to the consumer in the form of higher and higher prices. john: national price of gasoline up 63% from a year ago and the highest ever. sandra: it is almost hard to believe, every day a new record. the white house has announced a middle east trip to saudi arabia n
at the capitol building in washington injanuary last year, when supporters of donald trump tried to prevent the peaceful transfer of power to president biden. the congressional committee has spent almost a year investigating the attack. now on bbc news, counting the cost. millions of people around the world are facing increasingly difficult decisions amid rising food and energy costs. the world bank has warned the war in ukraine is set to cause the largest commodity shocks since the 1970s, with the price of wheat, cotton and natural gas affected, set against a backdrop of global supply disruptions because of covid lockdowns, and the effects of climate change on crop yields, many people are facing a fall in living standards and it is pushing many to the edge of crisis. our correspondents around the world have been looking at the challenges faced by many different countries and we start here in brazil, one of the world s largest agricultural exporters, now struggling to feed it
now on bbc news, counting the cost. millions of people around the world are facing increasingly difficult decisions amid rising food and energy costs. the world bank has warned the war in ukraine is set to cause the largest commodity shocks since the 1970s, with the price of wheat, cotton and natural gas affected, set against a backdrop of global supply disruptions because of covid lockdowns, and the effects of climate change on crop yields, many people are facing a fall in living standards and it is pushing many to the edge of crisis. our correspondents around the world have been looking at the challenges faced by many different countries and we start here in brazil, one of the world s largest agricultural exporters, now struggling to feed its people. to you and me, this looks like the land of plenty. brazil is an agricultural powerhouse. it s farmers reaping the rewards of an insatiable china, and the demand is not letting up. thiago was brought up on the land, his whole li
mercedes benz has recalled nearly 1 mercedes benz has recalled nearly1 million mercedes benz has recalled nearly 1 million vehicles worldwide due to a potential problem with the braking system. corrosion in some cars built between 2004 and 2015 could lead to the connection between the brake pedal and the braking system failing. now on bbc news, counting the cost. millions of people around the world are facing increasingly difficult decisions amid rising food and energy costs. the world bank has warned the war in ukraine is set to cause the largest commodity shocks since the 1970s, with the price of wheat, cotton and natural gas affected, set against a backdrop of global supply disruptions because of covid lockdowns, and the effects of climate change on crop yields, many people are facing a fall in living standards and it is pushing many to the edge of crisis. 0ur correspondents around the world have been looking at the challenges faced by many different countries and we start