Steadily rising costs

Rising cost of insulin has been resulting in non-compliance in patients with diabetes mellitus, finds an Indian study published in the journal Science Direct. While rising cost of insulin poses a challenge in controlling the disease, the study said the introduction of biosimilar insulin has enabled wider access of insulin with a reduced price of about 20%-40%. According to the study published in the peer-reviewed science journal, the rapid increase in burden of type 2 diabetes mellitus (T2DM) poses a huge medico-economic challenge, especially when the cost of care is funded by out-of-pocket expenses. The issue is of great concern as India is referred to as the ‘Diabetes Capital of the World’ and it accounts for 17% of the total number of diabetes patients in the world. There are around 80 million people with diabetes in India and the number is expected to increase to 135 million by 2045. “The aim of this review is to highlight various issues associated with rising cost of … [Read more...] about Rising Insulin Cost Leading to Non-Compliance in Diabetics, Cheaper Options May Improve Access: Study

While the vast majority of Europeans support sanctions against Russia over the invasion of Ukraine, less than half support the sanctions if they directly lead to a rise in prices, which present experience suggests they are. The Eurobarometer survey revealed that if sanctions against Russia were to increase the price of food and energy just 40 per cent of Europeans would support them and 60 per cent said they were not prepared to deal with the possible consequences of sanctions. Some countries are more accepting of possible consequences of Russian sanctions, such as Finland where just 30 per cent said they were not prepared to support the sanctions if prices rise as a result, broadcaster Yle reports . Italy may be forced to ration gas supplies due to the country’s reliance on supplies from Russia, which could lead to businesses and households not being allowed to use air conditioning this summer. https://t.co/m9nb8pnbCK — Breitbart News (@BreitbartNews) March 26, … [Read more...] about Just 40% Still Support Russia Sanctions If They Mean Rising Prices

Three quarters of families will see the cost-of-living outstrip their incomes by the autumn, analysts warned tonight. Some 21 million households will be clobbered by the living standards hammer blow as inflation rockets, experts revealed. Research from the New Economics Foundation says the worst-off will be hardest hit, with costs surging 90% faster than incomes for the poorest quarter of households. The think tank fears 9.9 million households will fall below the “minimum income standard” measure of cost of living by October, when the energy price cap is due to soar by an estimated £1,000. In April last year, 8.9 million households could not afford the cost of living, according to the NEF. Get a daily morning politics briefing straight to your inbox. Sign up for the free Mirror Politics newsletter It estimates another that by next April the total will be 10.5 million. The Foundation said that by spring 2023, incomes of the worst-off quarter of households will be … [Read more...] about ‘Three quarters of households will see cost of living rise quicker than incomes’

The vast majority of voters say the rising cost of gas is a “serious” problem in President Biden’s America, mere months ahead of the midterm elections, a Rasmussen Reports survey released Tuesday found. Rising gas prices have emerged as a top voter issue heading into the midterms, which does not bode well for President Biden and Democrats, both of whom have continued to deflect, constantly blaming others for the current state of affairs in the country. Senate Majority Leader Chuck Schumer (D-NY) in April, for example, tied rising gas prices to “Russia’s unprovoked, vicious, nasty, bitter, invasion of Ukraine.” That, he said, “has led to higher prices at the pump,” later blaming “market manipulation and price gouging” at the hands of big oil companies. Speaking at the same press conference, 82-year-old House Speaker Nancy Pelosi (D-CA) also refused to accept blame. “No. I don’t think the public is blaming Democrats [for rising gas prices],” she said. “I think they’re … [Read more...] about Poll: 92 Percent Say Rising Gas Prices a ‘Serious’ Problem in Biden’s America

The FTSE 100 closed in the red after traders digested another 40-year-high for UK inflation levels. A consumer price index (CPI) inflation reading of 9.1% was in line with expectations for May, but rocketing producer prices showed inflationary woes are not likely to reverse any time soon. Nevertheless, London’s index of top stocks finished the day with a slight improvement on early trading after growing positivity on Wall Street. The FTSE 100 ended the day down 62.83 points, or 0.88%, at 7,089.22. Michael Hewson, chief market analyst at CMC Markets UK, said: “The fragile nature of this week’s rebound has been laid bare today, with a sharp slide in oil prices in Asia, spilling over into broader market weakness, with the Dax sliding below last week’s lows, before rebounding, while the FTSE has also slipped back sharply. Recommended Russia says EU sanctions that prompted transit ban ‘unacceptable’ “Today’s inflation numbers from the UK came across … [Read more...] about FTSE slides as trading knocked by rise in UK inflation

More than two fifths of motorists are driving less frequently or making shorter journeys since fuel prices began to soar in March, a survey suggests. Some 43% of the UK public are cutting back on driving, potentially leaving certain demographics isolated and inconvenienced as a result, the poll by Opinium found. Some 35% of those in rural areas have been driving less owing to fuel costs – potentially leaving people isolated – compared with 31% of those in suburban areas and 23% of those in urban areas. Almost one in three (31%) urban drivers revealed that the rise in the cost of fuel had meant they had taken shorter trips since March, compared with 28% of suburban drivers and 26% of those in rural areas. Recommended Russia says EU sanctions that prompted transit ban ‘unacceptable’ Almost two in five unpaid carers (37%) had also cut down on their miles, as had 33% of key workers and 21% of paid carers. More than half of all drivers (54%) have … [Read more...] about Soaring fuel costs forcing motorists off the roads – survey

Millions of Brits on benefits may only get a crucial £324 cost of living payment after a hike in energy bills has kicked in this autumn. People on Universal Credit are due to get a £326 payment between July 14 and July 31, directly to their bank accounts, to help with soaring costs. With bills set to soar again on October 1, the Department for Work and Pensions (DWP) has pledged a second payment of £324 “in the Autumn”. But the date for that second payment has not been set - and Labour now fears it may only come several weeks after October 1. The small print of a Bill, due to pass the Commons today, appears to indicate it could arrive in November or even December at the latest. A government spokesman also confirmed it will arrive “closer to the coldest months of the year”. So why are Labour worried about this, given the date hasn't been confirmed? The Department for Work and Pensions (DWP) has pledged a second payment of £324 “in the Autumn” ( Image: Getty … [Read more...] about DWP payment worth £324 for millions could only arrive AFTER energy bills rise

Live Updates Federal Reserve Chair Jerome Powell is testifying before the Senate Banking Committee Wednesday amid rising inflation. The Federal Reserve announced its largest interest rate hike in 28 years last week in an attempt to curb rising inflation. The benchmark interest rate was raised by three quarters of a percentage point, to a range of 1.5% to 1.75%. Rising inflation is fueling concerns of an upcoming recession. Goldman Sachs estimated this week that the likelihood of a recession is at 30 percent over the next year and 48 percent over the next two years. The testimony is streaming live on CSPAN. Follow Newsweek's live blog for the latest updates. 4 min ago 10:12 AM EDT Rising Interest Rates Will Not Lower Gas, Food Prices Democratic Senator Elizabeth Warren pressed Jerome Powell on what the Federal Reserve is and isn't doing to raise interest rates. She asked Powell if raising interest rates will make gas or food prices go … [Read more...] about Fed Chairman Powell Testifies Live Updates: Rising interest rates will not lower gas, food prices

A temporary halting of the federal gas tax could deprive the U.S. Highway Trust Fund of a big chunk of its annual funding. On Wednesday, President Joe Biden called on Congress to suspend the federal gas tax, which is about 18.4 cents per gallon, for three months through September in an effort to ease the impact of soaring gas prices on Americans. A White House fact sheet on Biden's call for a federal gas tax holiday estimated that the suspension will cost about $10 billion. The Tax Policy Center, a nonpartisan think tank, says the Highway Trust Fund "finances most federal government spending for highways and mass transit." Federal taxes on gasoline and diesel are the primary sources of the fund's revenue. Therefore, a three-month gas tax holiday could deprive it of a fourth of the federal gas tax funds that are collected annually. Gas prices have been rising across the nation and inflation reached a 40-year high last month, putting Biden under pressure to try to alleviate … [Read more...] about Biden’s gas tax pause will cost U.S. highways a big chunk of their funding

Packaging business DS Smith has ended the year with a jump in profit, despite being affected by “significant cost increases”. The company has reported a pre-tax profit of £378 million over the year to April, representing a 71% increase against the previous year. Revenue also jumped by 26% by constant currency, to £7.24 billion from the previous year. Miles Roberts, group chief executive, told the PA news agency that DS Smith has witnessed “reasonable growth” and demand in recent months. However, he added that it has also experienced “significant cost increases” due to increasing gas and energy prices, with the average price of a box increasing by 20% over the last year. Recommended Russia says EU sanctions that prompted transit ban ‘unacceptable’ Mr Roberts said: “We are a heavy user of energy. We have a variety of different energy sources like biogas, refuse from domestic households and we also use gas, and the prices have gone up hugely, and then … [Read more...] about Packaging business DS Smith posts profit rise despite cost increases