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from 62 to 64. and soggy takeaway! how the red hot food delivery market has started to go cold. a lot to talk about, let s get going. we start in the us where a bitter political fight over the country s finances is about to begin. later today, the federal government will hit its borrowing limit agreed by congress far earlier than expected. the figure? an eye watering $31.4 trillion. in the short term, treasury secretary janet yellen will be able to buy some time, using what are known as extraordinary measures, diverting cash to stop the us defaulting on its debts. but congress will urgently have to find a solution and it is more divided than ever as michelle fleury reports from new york. the debt ceiling or debt limit is the legal amount the american federal government is allowed to borrow. it american federal government is allowed to borrow. allowed to borrow. it has maxed it out faster allowed to borrow. it has maxed it out faster than allowed to borrow. it has ....
Make to the global forces which is the real cause of rising prices. is the real cause of rising rices. ., , ., is the real cause of rising rices. ., , ., , , ,, prices. that s our business editor brian prices. that s our business editor brian jack. - let s speak to tom stevenson, investment director at the fund managers fidelity. simon talking through the dilemma facing the bank of england and treasury, today there is further strike action people very impacted by the cost of living? cost of living? absolutely, inflation cost of living? absolutely, inflation is cost of living? absolutely, inflation is coming - cost of living? absolutely, inflation is coming down i cost of living? absolutely, i inflation is coming down but coming down a lot more slowly here than in other big developed economies such as the us and europe in the us down at 6.5%, under us and europe in the us down at 6.5%,under10% us and europe in the us down at 6.5%, underio% in us and europe in the us down at 6. ....
But congress will urgently have to find a solution and it is more divided than ever as michelle fleury reports from new york. the debt ceiling or debt limit is the legal amount the american federal government is allowed to borrow. it american federal government is allowed to borrow. allowed to borrow. it has maxed it out faster allowed to borrow. it has maxed it out faster than allowed to borrow. it has maxed it out faster than expected, - it out faster than expected, there are a couple of reasons for this. there are a couple of reasons forthis. new there are a couple of reasons for this. new policies including the student loan forgiveness programme contributed to raising the amount of money it has been, also rising interest rates going up faster than expected meaning the united states government is paying more to borrow money. in fiscal 2022 it made for $75 billion in interest payments, up from $352 billion the year before, if congress doesn t address the debt limit swiftly, amer ....
And one of the reasons inflation has started to come down as the oil prices coming down, showing through with cheaper petrol and diesel at the pump. but we are also seeing organisations like the international energy authority warning that demand for oil is going to rise this year because of what s going on in places like china, china is reopening its economy, that s going to increase demand for oil, supply not necessarily going to rise to match that, because of what s happening with russia. so we face the possibility oil price might go up, and that in turn would push inflation higher again, we turn would push inflation higheragain, we are turn would push inflation higher again, we are not out of the woods yet, the government is saying they want inflation to come down in the year on year arithmetic means it probably will start to come down, but we are not out of the woods in terms of the oil price and that is key. and that is key. interesting ou and that is key. interesting you mention ....
Down a little the soaring cost of many foods is keeping inflation around a 40 year high. our editor explains wages are not keeping up feeling a wave of strikes over the country. it has fallen for the second month in a row, you have noticed at the garage the price of diesel fell sharply in december but the price of other things remained high and rising, essentials like food, what everyone is hoping that over the year prices today has peaked, there is the inflation chart, as you can still see higher and wages are rising in the private sector and the public sector, it means standards of living are falling. the chancellor say the government wants to cut that rate of inflation in hertfordshire. , , hertfordshire. any country in the world hertfordshire. any country in the world with hertfordshire. any country in the world with inflation - hertfordshire. any country in the world with inflation over| the world with inflation over 10% the world with inflation over 10% is the world wit ....