ASIA-PACIFIC

India in March lifted the inflation-adjusted allowance for federal government employees by 4%.

India

Top Japanese companies in March agreed to their largest pay increases in a quarter of a century at annual labour talks, heeding Prime Minister Fumio Kishida's call for higher wages. The government will allocate $15.25 billion from reserve funds in the current budget to try to limit inflation.

Japan

Thailand in March agreed to extend an excise tax cut on diesel to July 20.

Thailand

The Philippines in December extended lower tariff rates on rice and other food items up to the end of 2023.

Philippines

The US will subject 27 drugs to inflation penalties, reducing costs for Medicare recipients by nearly $390 per dose. The IRA penalises drugmakers if they charge prices that rise faster than inflation for people on Medicare.

United States

AMERICAS

Brazil's president in February said the minimum wage will be raised to $260.93 a month, starting in May. Congress in December approved increasing the spending cap to maintain welfare payouts to poor families in 2023.

Brazil

Mexico has raised the minimum wage by 20% for 2023. In March it opened the door to imported Brazilian bovine products for the first time as it looks to diversify its food supply to try to curb inflation.

Mexico

Colombia raised the minimum wage by 16% for 2023.

Colombia

The European Commission will extend its gas price cap system to all trading hubs in the European Union from May. EU countries agreed on the cap in December.

European Union

EUROPE

Italy last month approved measures worth almost 5 billion euros ($5.48 billion) to cut energy bills for families and firms. Rome has earmarked over 21 billion euros in its 2023 budget to soften energy costs.

Italy

Portugal also in March announced a package to help low-income families, including scrapping value added tax (VAT) on essential food products.

Portugal

Ireland in February announced funding to help households and extended a temporary lower VAT rate for the hospitality sector through the summer season.

Ireland

France in March reached a deal with the country's main supermarket chains to help shoppers cope with food prices.

France

Germany plans to spend 14.5 billion euros ($15.75 billion) to finance its electricity price cap until May, as part of a relief package Berlin set out last year.

Germany

The majority of South Africa's public sector unions in late March agreed to a 7.5% wage increase after five months of strike action.

South Africa

AFRICA AND MIDDLE EAST

Israel's government in early March reached a wage deal, which covers some 350,000 civil servants, offering 11% raises between 2020 and 2027, with its main public sector labour union.

Israel

Turkey in December raised the monthly minimum wage for 2023 by 55% from the level determined in July.

Turkey