Pandemic-related disruptions to global supply chains and the knock-on effects of Russia's war in Ukraine have driven up prices of energy, commodities and necessities.

Here's how governments are trying to help hard-hit consumers and companies:

Americas:
  • The US government in early November announced $4.5 billion in measures to help Americans lower home energy bills. The administration also put forward the $430 billion "Inflation Reduction Act" in August.
  • The incoming administration of Brazil's president-elect proposed a spending cap waiver to secure welfare programs. The country's oil giant Petrobras has cut fuel prices multiple times this year.
  • Argentina's government signed a deal with supermarkets and suppliers of mass consumers goods to freeze or tightly regulate prices of some 1,500 products. It also raised the income tax threshold.
  • Canada in early November laid out billions in spending to support low earners and offer students debt relief. In September, the government announced a C$4.5 billion ($3.36 billion) package.
  • Mexico is considering hiking the minimum wage by 15 per cent. In October the government unveiled a deal with foodmakers and retailers to waive some regulatory requirements and halt rising food prices.
  • Chile in July announced a $1.2 billion aid plan.
A man places belongings next to a wall on a street in front of a travel agency shop in Ferrol, northernwestern Spain, September 6, 2022. REUTERS

A man places belongings next to a wall on a street in front of a travel agency shop in Ferrol, northernwestern Spain, September 6, 2022. REUTERS

Europe
  • The European Union executive on Tuesday proposed a gas price cap for the bloc. The cap would be available for one year from January 1, 2023.
  • Italy's new government will spend more than 21 billion euros ($21.57 billion) next year to help firms and households with electricity and gas bills.
  • Germany plans to cap gas and electricity prices in March 2023 retroactively covering prices from January, according to a draft plan seen by Reuters on Tuesday. The government has set out a 200-billion-euro "defensive shield" and agreed to nationalise gas importers Uniper and Sefe.
  • Spain's government and banks agreed in principle on mortgage relief support for more than 1 million vulnerable households and additional aid for middle-class families. The government has also cut VAT on gas from October.
  • Britain unveiled a scaled-back version of an existing cap on energy bills and announced it would raise pensions and welfare benefits in line with inflation.
  • Slovakia will cap energy prices for companies in the first quarter of next year.
  • Malta will maintain a price freeze on energy and fuel prices in 2023.
  • France is fully nationalising nuclear energy group EDF . The government will cap household power and gas price increases at 15 per cent next year and is helping struggling small and mid-sized companies.
  • Belarus banned consumer price rises from October 6.
  • Poland will cap electricity prices for small businesses, hospitals and households in 2023, and raise the minimum wage twice.
  • Portugal's regulator will limit electricity price rises to 2.8 per cent next year for hundreds of thousands of households and small businesses.
  • Ireland dipped into its surplus budget to fund an ease in energy costs.
  • Croatia has capped electricity prices until March.
  • Finland and Sweden offered liquidity guarantees to power companies.
Japanese Prime Minister Fumio Kishida announces the new 29.1 trillion Yen economic package to combat price rises during a news conference at his official residence in Tokyo, Japan, October 28, 2022. REUTERS

Japanese Prime Minister Fumio Kishida announces the new 29.1 trillion Yen economic package to combat price rises during a news conference at his official residence in Tokyo, Japan, October 28, 2022. REUTERS

Asia
  • Japan will spend $200 billion on a package including electricity and gasoline bill subsidies. It had already announced a record minimum wage hike and a $103 billion relief bill.
  • The Philippines' president has ordered agencies to continue supporting the most vulnerable sectors through cash aid and fuel discounts. The government is considering extending measures that reduced tariffs on pork, rice, corn and coal.
  • Thailand on November 15 agreed to extend an excise tax cut on diesel until January 20.
  • India is weighing up measures such as the release of wheat state reserves into the open market to cool prices and axing the 40 per cent tax on imports, government sources said. In September it restricted exports of rice to boost supply and calm local prices.
  • Indonesia's government in September ordered regional heads to keep food inflation below 5 per cent.
People shop at Grand Bazaar in Istanbul, Turkey, November 4, 2022. REUTERS

People shop at Grand Bazaar in Istanbul, Turkey, November 4, 2022. REUTERS

Africa and Middle East
  • Turkey's president will hold discussions with his cabinet on adopting heavier measures on supermarkets and stores that charge excessively. In July the government raised the minimum wage by about 30 per cent, adding to the 50 per cent rise seen at the end of last year.
  • Tunisia's government in September signed a deal with a major labour union to raise public sector pay and the minimum wage.
  • Botswana in July cut VAT by 2 per cent for six months.
  • Saudi Arabia and the United Arab Emirates in July raised social welfare spending.
social-fb COMMENT NOW