People pressure governments worldwide to act on inflation

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People pressure governments worldwide to act on inflation
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Spanish truckers have won concessions from the government to help check rising fuel costs and improve work conditions after threatening to stop hauling freight just before Christmas.

During a briefing on Friday, press secretary Jen Psaki said the White House is deferring to the Federal Reserve on official predictions about inflation.BARCELONA, Spain -- Óscar Baños and thousands of fellow truck drivers celebrated Saturday after a threat to idle their engines pushed the Spanish government to adopt measures improving work conditions and checking skyrocketing fuel costs driven by inflation.

Political pressure has led countries including Poland, Hungary and the U.S. to take steps such as instituting caps on gas prices, pledging money for poor households or releasing oil from strategic reserves. Spain was among places like Turkey seeing more intense efforts such as protests and work stoppages tied to complaints about inflation, which has surged as the global economy rebounded from the pandemic, increasing demand for smaller supplies of energy and snarling supply chains.

The government’s late Friday concessions included regulations to make a difficult job easier and attract young people: a ban on drivers loading and unloading trucks and an end to long waits at their destination. Spain also guaranteed a mandate that all trucking companies increase their tariffs in line with diesel costs so competitors don’t undercut each other, eroding profits and driving some to the brink of extinction.

Hugas said the only short-term measure that produces any relief, although limited, is “removing taxes on fuel as the prices rise to stabilize them a bit.” The lower house of Poland’s parliament passed a measure last week promising cash allowances to the poorest families for energy bills. The aid will range from 500 to 1,250 zlotys per household, Prime Minister Mateusz Morawiecki said.

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