High costs: Gas prices are shown at a station in Seattle. Energy prices are soaring in 2021. The energy sector has far outpaced the broader market this year. — AP
WASHINGTON: Inflation is still raging in the United States and Europe, especially in Spain where soaring energy costs are pushing broader price gauges higher.
US employment costs rose at the fastest pace on record in the third quarter, while euro-area inflation breached 4% for just the second time ever. Japanese retail sales advanced in September as Covid-19 cases fell, and consumers in India are spending healthily to kick off the festive season.
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