whatever it takes, policeman follow with w. fire made a thought they will grade. he will be able to do a another nasty surprise, u. s. consumer prices, surgeon, june, overshooting estimates. once again for the fed. it means weighing a stronger rate hike against the risk of a recession. also on the show, chinese exports beat expectations. again, giving markets a much needed joel of good news, and some not so hot news for what savvy lovers, climate disasters are making the beloved condiment part to come by. i'm christy plaza. this is d w business. well, we can't stop talking about it. dominating the headlines once i an is ever rising inflation. the u. s. on wednesday released a report showing a new 40 year high and consumer prices for june. that was the biggest hike since 1981 compared to june last year. consumer prices are now 9 point one percent higher . and these are the biggest drivers of inflation. gasoline clocked in almost 60 percent higher than last year. airline fairs, the price of new vehicles and the cost of food were also factors. rent in the u. s . is also going up. now in new york, these high prices are colliding with the cities, so called post to coven summer. more people are moving to the city than before. the pandemic. that means rent prices are soaring. the combination of rising housing costs and growing consumer prices are pushing low income new yorkers to the brink o the will to protect his families. whom you fabian bravo, boys, he's fighting back against the rent increase. my bill. i'll hold to the looking dealer. they would send us tenets, allen, to the street, where no fare, life is possible. i mean, you know, it's a movie, live for tens of thousands. life on the street is already a reality. homelessness in new york is the highest. it has been in almost a 100 years. the main cause to little affordable housing. more people are returning to the city than before the pandemic. and they are looking for more space that's driving up prices. average rent prices up by a 3rd compared to 2021. and so our evictions, low income families like that. a fabian bravo are now in a bind nor our brother works as a housekeeper, 7 days a week. yeah. she's already struggling as inflation is biting into the family budget. we're kicking before he goes out. why neither? wow. now his golf 2 night things on the phone. so we have to change a little bit before we live like 2 more chicken. we lay only one. so we asked this way. so now we, why more base double cucumber earth? i'm still larry, we looking for the of the family of 5 is crowned into a 3 bedroom apartment that they're building is designed to be affordable. the city regulates their rent increases. the increase this year will come to about $70.00 a month. taybian bravo had a work injury if somebody was back and was unemployed. that means a 17 year old daughter, samantha, helped with the extra cost instead of paying for university. let's see the only one of my nearest day, some was the missed on my pamela cornel signals fair to me, teenagers dreams. if i don't speak out from, if i don't raise my voice in this, who will give? i don't want that. it's, i was, i had to do it for my kids was in for my family. and i mean, i, me, for me, miss equals the city appointed for decided to raise the rent of 1000000 apartments in new york this summer by making his case to them. fabian wants to keep it with most fordable in the future. he tells the board about things id, inflation is already causing his family and he ends on a plea. no more rent increases. well, i want to bring in our man on the ground, young quarter at the new york stock exchange. hi there. yeah. and so tell us, how are people dealing with these high costs? where are you feeling the pinch? well, i mean, chris, the a definite, the people in the lower income bracket starting to struggle quite a bit. and if you look at the costs for it, pretty much all the essential to going up. and if you look at housing, if you look at food, if you look at transportation and that trend might actually stay for a little while. so you're here stories from people buying a smaller sized buying less to basically living from one to a and to another. so those high prices definitely have it all. ok, well this is obviously a huge pain point for americans. yann's, would you say, is a stronger interest rate hike from the fed as a response, a foregone conclusion. at this point, christie, i would say it set in stone. the only question is, what precisely happens in 2 weeks? we will have the next the fed meeting. will it be industry great interest rate increased by 50, by 75, or maybe even by 100 basis points. so the bet that we might, the full percentage point increase have definitely increased here with this hot inflation figure that we've seen that wednesday on thursday. by the way, we will get the next inflation report with the producer price of those might be up by almost 11 percent. there is a dual mandate from the federal reserve. one is a full employment. at this point, we can make a check mark behind that with an unemployment rate of roughly 3.6 percent. when we talk about the thicket, mandate, price stability. we are far away from that. and that way, that's why we see this aggressive policy moved by the federal reserve. right? yeah. well, we know the whole debate for the fed about this rate hike is whether they can pull it off without triggering or recession in the us. we also know that jobs are strong, the dollar is strong there. can you give me a sense of what state is the economy actually in there right now? you know, definitely, i mean if you listen to jerome paula, the fed chairman, i mean he was recently saying that the labor market is even too strong. that might be true at this point. but on the other side, we already see the economy starting to weaken a bit in certain areas. if you look at retail tail, for example, both dropped recently. and then also i hear all those stories that americans have so much money paid down so much debt in the past 2, pandemic years. but i'm not sure if that is really true for most of the country. if you look at a credit card that that's basically at a record high, if you look at carlo and those are also wallison on a record high as so people are starting to get more trouble to pay for their debt and was interest rate. so on the move from up, this debt becomes even more expensive. so short answer, the economy so far is okay, but there are signs some that recession actually could be looming around the corner for the biggest economy on the planet. thanks for that, jens will speak to you tomorrow. and now to some of the other global business stories making news. russian energy giant gas prom says it can't guarantee the proper functioning of the nord stream one pipeline. that's a key source of gas to germany. the pipeline was shut down this week for annual maintenance, but the delivery of a key component has been stalled, due to western sanctions against russia. the german economy ministry declined to comment on the gas prom statement. twitter has officially filed a lawsuit against teslas, c, e o. e. lon musk. if successful, it would force the billionaire to purchase the social media company for $44000000000.00. must announce last week that he was backing out of his april agreement to buy twitter. and speaking of twitter, us stocks took a hit after phony inflation data circulated on the platform. the u. s. bureau of labor statistics had to discredit the fake report which came a day before the real rot. real one was scheduled to be released. it claimed annual inflation had hit 10.2 percent. the real figure released wednesday was a still i watering 9 point one percent lock bounce in shanghai and other areas of china have battered the world's 2nd largest economy. yet export growth in the country has been expectations. once again, in the 1st half of this year, exports increased more than 13 percent compared to the same period in 2021 imports rose nearly 5 percent looking at the past few months, china managed to escape major fall out from those strict lockdown and shanghai. and other cities earlier this year, x i exports did fail to keep pace initially creating disruptions and global supply supply chains. but since then, exports have picked up at a steady pace. beating analyst expectations are correspondent in taipei has more since may, with the overall improvement in containing the colon of ours, the fact of various policies to stabilize growth gradually emerged and the orderly progress of foreign trade enterprises resumption of work and production, especially the rapid recovery of imports and exports the overall growth rate of foreign tre pickup is significantly, but now there is the latest wave of all. we can be a 5 in shanghai, several town councils, a vice people to prepare food for 14 days. people worry about another lockdown and not just some high across the country. the number of cases are at the highest in most, multiple cities and pose in some restrictions as these will all probably lead to future supply chain disruptions. businesses around the world have been dealing with supply shortages for more than a year. now, as a result of the pandemic in japan, there's a shortage of with sabi, but in this case, the blame falls elsewhere. a diner grades fresh was sabi over his noodles. in the near future, adding the green condiment might be a rare privilege reserved for special dishes westlaw. in the past we served all the cold, so been oodles with a piece of ra, a sabi, but now we can no longer do that. due to insufficient supplies of was sabi. we've had to change our menu and go, so that are a local hon. a 2020 report from japan's ministry of agriculture shows that the production of with sabi has declined by more than half since 2005. 0, nice. she attributes a scarcity to climate change, was saw be farmers whose crops were washed away by a typhoon in 2019 agree. greggs, i got her corner to go know the neighbors was saw be fields turned into rivers and money and large stones rolled down from the mountain after the typhoon. welcome us . i felt the power of the flood is as it happened in october and since it was about time to harvest, with sabi, roubles, human, a large amount of was sabi was washed away or buried in the sand. but for now, customers at onesies establishment can still saver the condiment. let's take a look at the top business story we're falling for you. this. our inflation in the us reached a new 40 year high in june. consumer prices are now 9 point one percent more expensive than they were the same time a year ago. that's according to a port report released wednesday. well, that was our show if you'd like more. please check out d w dot com backslash business. you can also find us on the dw news, you youtube channel. we're also on facebook for me and the whole business team here in berlin. thank you so much for watching. we will see you tomorrow. ah, enter the conflicts own, confronting the powerful 18 months off to the violence on capitol hill. it's clear that us democracy was in greater danger than previously believe. my guess this week from comma david from writer and columnist for the atlantic magazine. he says, the stakes were, i'm still all frighteningly home. conflict on next. on d. w. a climate event. what could the future bring in 45 minutes to do with carefully don't know how with today. i feel the magic discovery of the world around you subscribe to d w documentary on youtube. 18 months after the violence on capitol hill. it's clear that us democracy was in greater danger than previously believed. testimony to the january 6th committee described the craze. donald trump grappling with his own secret service, determined to lead his arm supporters to congress and overturn joe biden's election victory. america's police.