Oil, food inflation to top G8 agenda

(02:00) Report

Jul. 4 - Global inflation, driven by rocketing oil and food prices, will be top of the agenda for G8 leaders at this year's summit in Japan.

With record high oil prices of around $145 a barrel threatening the global economy and food riots threatening political stability, the Group of Eight (G8) nations will look at ways to help balance the supply of and demand for oil.

But some say the leading industrialised nations - the United States, Britain, Canada, France, Germany, Italy, Japan and Russia - will need to produce more than strong words if they want to solve the inflation problem.

Joanna Partridge reports.

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