Ticker: Bird flu still taking toll on industry; Russian consumers feel themselves in a tight spot as high inflation persists
More than 1.3 million chickens are being slaughtered on an Ohio egg farm as the bird flu continues to take a toll on the industry.
The U.S. Department of Agriculture said all 1.35 million chickens on the farm in Ohio’s Union County will be slaughtered to help limit the spread of the highly contagious virus after a case was confirmed in the flock this week.
The outbreak that began in early 2022 has been much less severe this year as fewer cases of the virus are being found among the wild birds that spread it. But there have still been 8.1 million birds killed this year to help control the spread of the disease and 5.8 million of those have come just this month as several large egg farms have been struck. That includes 1.2 million birds at one Iowa egg farm and another 940,000 chickens at one Minnesota egg farm that had to be killed.
Russian consumers feel themselves in a tight spot as high inflation persists
The shelves at Moscow supermarkets are full of fruit and vegetables, cheese and meat. But many of the shoppers look at the selection with dismay as inflation makes their wallets feel empty.
Russia’s Central Bank has raised its key lending rate four times this year to try to get inflation under control and stabilize the ruble’s exchange rate as the economy weathers the effects of Russia’s military operation in Ukraine and the Western sanctions imposed as a consequence.
The last time it raised the rate — to 15%, doubled that from the beginning of the year — the bank said it was concerned about prices that were increasing at an annualized pace of about 12%.