FACTBOX- Measures from governments worldwide to ease inflation pain

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 (Reuters) – Pandemic-related disruption to global supply chains and the knock-on effects of Russia’s war in Ukraine have combined to drive up prices of energy, commodities and basic necessities.

Below is a list of some of the actions taken by governments aimed at offering relief to hard-hit consumers and companies:

AMERICAS:

* Canada announced C$4.5 billion ($3.4 billion) in measures including a tax credit for families of low and modest incomes, and a one-time top-up to a benefit that helps low earners pay rent.

* The United States will help millions of indebted former students by cancelling $10,000 of their outstanding student loans , while the $430 billion “Inflation Reduction Act” unveiled in August aims to cut prescription drug prices and introduce tax credits to encourage energy efficiency.

* Brazil‘s oil giant Petrobras will cut prices of liquefied petroleum gas (LPG) by 4.73% for distributors . Earlier this month it slashed refinery gate gasoline prices by 7% adding to multiple cuts seen this year . In July, the government cut fuel taxes and raised social welfare payments.

* In August, officials in Mexico said inflation-combatting subsidies have already cost some 575 billion pesos ($28.76 billion) this year.

* Chile in July announced a $1.2 billion aid plan including labour subsidies and one-time payments for those most affected.

EUROPE:

* The European Union plans to raise more than 140 billion euros ($140 billion) by skimming off revenues from low-cost electricity generators and making fossil fuel firms share windfall profits.

* Germany may nationalize struggling gas importer Uniper UN01.DE, Bloomberg reported . Berlin in July agreed a 15-billion-euro bailout of the company. The government this month also announced a 65-billion-euro package containing a windfall tax, benefit hikes and public transport subsidies.

* Poland will raise its minimum wage twice next year and plans to freeze electricity prices for households consuming less energy . In August, it approved subsidies for heating plants and cash for municipalities , while in July it introduced a relief scheme for holders of local currency mortgages.

* The Czech Republic will cap electricity and gas prices next year.

* Britain will cap consumer energy bills for two years and prop up power companies . The package is likely to cost over 100 billion pounds ($116 billion).

* Portugal reduced VAT on electricity and provided one-off payments for workers, families, and pensioners.

* Spain will slash VAT on gas to 5% from 21%, after already cutting VAT on electricity twice over the past year.

* Croatia will cap electricity prices from Oct. 1 until March.

* Finland and Sweden will offer billions of dollars in liquidity guarantees to power companies.

* Italy plans to spend at least an additional 6.2 billion euros on relief.

* Denmark in August capped annual rent increases at 4% for the next two years . In June it put forward a 3.1 billion Danish crown ($417 million) package.

* France on Aug. 3 adopted a 20-billion-euro bill lifting pensions and some welfare payments.

ASIA:

* Thailand extended a diesel tax cut and energy subsidies and raised the minimum wage.

* Japan will present another economic package in October , adding to previous measures including a record minimum wage hike . A $103 billion relief bill was also passed in April.

* Indonesia‘s government ordered regional heads to keep food inflation below 5% . In August, the government decided to reallocate 24.17 trillion rupiah ($1.62 billion) from fuel subsidies to welfare spending.

* At least 10 states in India have announced a total of more than 1 trillion rupees ($12.6 billion) of support, mainly in cash transfers and electricity subsidies, officials said . The government has also set up a panel to review the pricing formula of locally produced gas . In May it restricted some food exports and cut taxes on imports of edible oil.

* Malaysia expects to spend a record 77.3 billion ringgit ($17.08 billion) in subsidies and cash aid this year.

AFRICA AND MIDDLE EAST:

* South Africa in late July announced a cut in the pump prices of fuels.

* Saudi Arabia and the United Arab Emirates in early July raised their social welfare spending. The UAE doubled financial support to low-income Emirati families, while Saudi Arabia allocated 20 billion riyals ($5.32 billion).

* Turkey in early July increased its minimum wage by about 30%, adding to the 50% rise seen at the end of last year.

($1 = 1.3168 Canadian dollars)

($1 = 19.9921 Mexican pesos)

($1 = 0.9995 euros)

($1 = 0.8650 pounds)

($1 = 7.4268 Danish crowns)

($1 = 14,905.0000 rupiah)

($1 = 79.4150 Indian rupees)

($1 = 4.5250 ringgit)

($1 = 3.7585 riyals)

(Compiled by Olivier Sorgho, Leika Kihara, Manoj Kumar, Ina Kreutz and Agnieszka Gosciak; Editing by and Tomasz Janowski and Mark Potter)

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