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High food prices are pinching households across Europe, where food inflation is outpacing other major economies like the U.S., Japan and Canada MILAN -- When it comes to skyrocketing pasta prices, Italians are crying: Basta! They have had enough after the cost of the staple of every Italian table soared by twice the rate of inflation. One consumer advocate group is calling for a weeklong national pasta strike starting June 22 after the Rome government held a crisis meeting last month and decided not to intervene on prices. “The macaroni strike is to see if keeping pasta on the shelves will bring down the prices, in the great Anglo-Saxon tradition of boycotting goods,” said Furio Truzzi, president of the group, Assoutenti. “The price of pasta is absolutely out of proportion with production costs.” Grocery prices have risen more sharply in Europe than in other advanced economies — from the U.S. to Japan — driven by higher energy and labor costs and the impact of Russia's war in Ukrai...

The major oil-producing countries led by Saudi Arabia and Russia are deciding whether to make more cuts to the amount of crude they supply to the global economy FRANKFURT, Germany -- The major oil-producing countries led by Saudi Arabia and Russia are wrestling with whether to make another cut in supply to the global economy as the OPEC+ alliance struggles to prop up sagging oil prices that have been a boon to U.S. drivers and helped ease inflation worldwide. The 23-member group is meeting Sunday at OPEC headquarters in Vienna after sending mixed signals about possible moves. Saudi Arabia, dominant among the oil cartel's members, has warned speculators that they might get burned by betting on lower prices. Russia, the leader of the non-OPEC allies, has indicated no change to output is expected. The decision comes amid uncertainty about when the slow-growing global economy will regain its thirst for fuel for travel and industry, and with producers counting on oil profits to bolster ...

Procter & Gamble, the maker of such iconic household products as Crest toothpaste, Tide detergent and Charmin toilet paper, raised its annual sales outlook on Friday, after turning in better-than expected fiscal third-quarter earnings results as a seri... NEW YORK -- Procter & Gamble Co., the maker of such iconic household products as Crest toothpaste, Tide detergent and Charmin toilet paper, raised its annual sales outlook on Friday, after turning in better-than expected fiscal third-quarter earnings results as a series of price hikes boosted its performance. The earnings results offer encouraging signs about the resiliency of the consumer ahead of reports next month from major retailers like Walmart and Target in an increasingly challenging economy. P &G executives told analysts during its earning call on Friday that the U.S. consumer is “holding up well” and its share of private label brands, which tend to be less expensive, is stable at 16%, a good indication that ...