Spain's inflation rate this week soared to a record high for the first time since September 1992 when the European country's traditional currency Peseta came under pressure due to rising inflation, pushing the Spanish government to devalue the currency by 24.9% to spur exports and curb an inflation rate that spiralled close to 30%. As of Wednesday, the steep energy prices across Europe pushed Spain's inflation to a whopping 5.5%, an estimated 1.1% higher than was predicted by the financial experts, a survey by Spain's National Statistics Institute (INE) has found.
Power costs surge, petrol price hike triggers nationwide inflation
According to INE's press release, the overall surge in the power costs has pushed the petrol and fuel prices upwards acting as the main driver for the cause of inflation, pushing the government to reduce the taxes on the domestic power bills countrywide.
Chandigarh: A self-made billionaire, who fed tens of thousands of hungry people with a fresh vegetarian meal everyday with his own funds outside the Postgraduate Institute of Medical Education and Research (PGIMER) here, passed away on Monday at the age of 86. Popularly known as ‘langar baba’, Jagdish Lal Ahuja, who was battling cancer, had been serving free food in the langar — the practice of a free community kitchen and open to all — across Chandigarh since 1981.
For his philanthropic service to the community at large, he was conferred the Padma Shri last year.
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