As consumers returned to restaurants, hotels and retail stores, businesses reported issues with supply constraints, worker shortages and higher prices.

Voters in Peru could elect Pedro Castillo, leader of a Marxist party, as president this weekend as the region deals with economic and Covid-19 crises.

Amid the pandemic, households saved cash and banks amassed capital, but supply shortages are popping up and some employers can’t find workers to hire. “A collapse and then a boom-like pickup.”

The rise in consumer prices comes as central bankers try to figure out whether shortages that have emerged as the global economy reopens will prove transitory or have long-lasting consequences.

The annual rate of inflation hit the European Central Bank’s target for the first time since late 2018, as energy prices surged in response to a strengthening recovery in the global economy.

An official gauge of Chinese factory activity slipped in May on weaker export demand and higher commodity prices, while the country’s nonmanufacturing sector was bolstered by stronger construction and holiday spending.

The U.S. employment report on Friday highlights this week’s economic data.

Friday’s jobs report could provide pivotal data as the Fed charts a plan for ending the easy-money policies that have propped up the economy and markets for more than a year.

Labor-market recoveries are wrapped up in which states implemented stiff restrictions on businesses during the pandemic and which didn’t, as well as region-specific economic conditions before Covid-19.

President Biden’s budget proposal charts his vision of an expansive federal government role in the economy and the lives of Americans, with big increases in spending on infrastructure, public health and education along with tax increases on corporations and the wealthy.

Consumer spending rose 0.5% in April as Americans extended a spending binge and continued to catch up on activities they held off on during the pandemic, propelling a broad economic recovery.

Remittances, funds that migrant workers send home, are providing a lifeline for poor countries still in the grip of the Covid-19 pandemic.