Real wages have been increasing in recent quarters, recovering after their decline during the period of high inflation in 2022. By the first quarter of 2025 – when deflated by price indices that reflect consumption patterns, such as the Harmonised Index of Consumer Prices and the private consumption deflator – real wages had almost returned to the levels recorded prior to the inflation surge.

Jorge MataWe’ve all been there – absentmindedly tapping a credit or debit card to pay for something at a shop, only to remember moments later there is a 2.99% surcharge.

These surcharges are extra fees added to the total when a shopper opts for credit card and contactless payment rather than swiping and entering a PIN with a debit card.

Chinese weapons are starting to show up in the world’s biggest conflict zones, underscoring its technological advancement and investment in this area.

In the 1990s and 2000s, Chinese weapons systems and military equipment were seen as being little more than imitations of old Russian or even Soviet systems. China was largely reliant on exports from Moscow and lacked the capacity to create its own systems.

Joonkyu Choi, Serguey Braguinsky, Yuheng Ding, Karam Jo, Seula KimWe provide evidence that mega firms have played an increasingly important role in shaping new technological trajectories in recent years. While the share of novel patents—defined as patents introducing new combinations of technological components— produced by mega firms declined until around 2000, it has rebounded sharply since then.