G8 leaders to fight inflation dangers

In a joint statement on the world economy, G8 leaders expressed strong concerns on elevated commodity prices, which pose a “serious challenge” to stable worldwide growth. While the G8 noted an improvement in financial market conditions over the past few months, it admits “serious strains” still exist. “The world economy is now facing uncertainty and downside risks persist,” the statement reads. “We express our strong concern about elevated commodity prices, especially of oil and food, since they pose a serious challenge to stable growth worldwide, have serious implications for the mos...