Interest rate hikes came too late to stop a price surge in the short term, German industry groups say German consumers should not expect price spikes to subside in the coming months, the Federation of German Industries (BDI) said in a survey of major industry groups, published by Reuters on December 30.

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The bloc’s plans in the far North will upset the regional balance, a top Russian ambassador has said NATO military expansion in the Arctic undermines regional security and warrants countermeasures from Russia, according to a senior Foreign Ministry official.