Hopes of easing economic woes were belied on Thursday as the US Labor Department reported that consumer prices continued to rise in July at double the expected rate.

Last month, consumer prices in the US rose by 0.8 percent which was almost twice the rate predicted by economists. The biggest drivers of surging consumer prices were the energy and food sectors. Rising oil and food costs have hit the average consumers hard. But news of soaring expenses also came in from other sectors like clothing whose prices have risen the highest in a decade. Besides these, rises were reported in airline fares, hotel rents as well as tobacco.

The surge in consumer prices left inflation rising at the fastest rate in seventeen years. Over the last year, inflation has increased by 5.6 percent which is the biggest 12-month rise since the period ending in January 1991. Core inflation figures for July revealed a rise of 0.3 percent which was higher than expected. Core inflation does not take into account rapidly fluctuating food and energy prices.

The rise in inflation means that the purchasing power of the average person has become restricted even as average weekly wages come down in real terms. Economists are still divided over whether the rising inflationary trend will level out in future.

-Kalyani Mookherji

For many professionals around the world, a weekend is that rare bit of breathing space between two hectic stretches of working schedules. Yet, many of us find ourselves bringing work back home on Friday evenings and ruining the weekend not only for ourselves but also for our families. Here are some ways to enjoy the weekend and keep work where it belongs – in the office.

You can start planning for a relaxed weekend while still working mid-week. Do not let work sit around at your desk till its time to leave the office on Friday evening. Complete assignments and finish reports well in advance so that you need not dig into your weekend time.

Ask each member of the family beforehand what he or she would like to do over the weekend. Involving family members and close friends will give you that extra motivation in completing office work in time.

Keep weekend family activities simple and fuss-free. Organizing elaborate and expensive activities might leave you drained out and feeling no different from a busy day at the office.

Organize your home responsibilities too during the week so that too many chores don’t pile up on weekends. It is a good idea to prepare a house maintenance list and make sure all the members of the family stick to it. This will reduce clutter and help you to unwind over the weekend.

-Kalyani Mookherji