Food prices in Sweden record one of the largest hikes since food prices started rising almost a year ago, according to a new report, as European countries grapple with the rapidly worsening cost-of-living crisis.

The US dollar sinks against the Iranian rial after the country appoints a new central bank governor.

Iran’s intelligence ministry blocks 2,300 foreign currency bank accounts amid a rise in forex prices.

The Bank of England is widely expected to hike its key interest rate on Thursday by the biggest amount since 1989.

A new report by the World Bank says that Afghanistan is facing a rising inflation, generated by global food and energy prices and the impacts of ongoing severe drought which has affected the country.

China accuses the US of creating the current crisis in Ukraine, saying Washington is the main beneficiary of the turmoil.

Iran’s state oil company NIOC raises September crude oil prices for Asian and European customers.