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The Latest Breaking News from Inflation

Wild swings in the oil price make the Reserve Bank’s job harder

It looks, at least for now, as though tensions in the Middle East are easing somewhat. It appears much less likely Iran will try to close the Strait of Hormuz, through which flows about a fifth of the world’s oil.

The Conversation

Fed's Schmid Says 'Wait-and-See' Approach Right For Rate Policy As Tariff Fallout Still Unclear

Kansas City Federal Reserve President Jeff Schmid said on Tuesday that the central bank has sufficient time to analyze rising import tariff impacts on inflation and economic growth before implementing further interest rate cuts.What Happened: “The current posture of monetary policy, which has been characterized as ‘wait-and-see,’ is appropriate,” Schmid…

Benzinga

Americans Used To Fantasize About Getting Rich, Now They Just Want To Be Comfortable: 1-In-4 Don't Feel Financially Safe, Many Want $150,000 Payslips

More than three-quarters of U.S. adults say they are not financially secure, a record share in Bankrate's latest Financial Freedom survey, as inflation and hiring freezes erode purchasing power and career prospects.

Benzinga

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Falling inflation rate boosts chances of RBA interest rate cut and relief for mortgage holders

Sharp drop to 2.1% in 12 months to May shows ‘continued pattern of deflation’, KPMG economist says

The Guardian - AU

Stocks Soar as Middle East Tensions Ease and Bond Yields Fall

The S&P 500 Index ($SPX ) (SPY ) Tuesday closed up +1.11%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +1.19%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.53%. September E-mini S&P futures (ESU25 ) are up +1.11%, and September E-mini Nasdaq futures...

Barchart

Markets rise after ceasefire between Israel and Iran appears to hold

Federal Reserve Chair Jerome Powell told lawmakers on Tuesday that the central bank continues to monitor the threat of inflation.

Fortune

The ancients also had to deal with a cost-of-living crisis. Here’s how they managed

Talk to anyone today, and they will probably have something to say about how expensive life has become. While the rate of inflation has slowed, prices for many goods and services are still much higher than pre-pandemic.

The Conversation

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The Fed won’t lower rates like Trump wants because it sees ‘meaningful’ inflation spike later this year

Fed Chair Jerome Powell told Congress he expects an inflation surge—but how long and how high is unknown.

Fortune

Hope for home owners as inflation hits four-year low

Expectations are growing interest rates will be cut again soon as the Reserve Bank's preferred measure of inflation falls to its lowest level in years.

AAP

FTSE 100 underperforms despite Iran-Israel hope

The FTSE 100 index closed up just 0.95 points at 8,758.99.

Evening Standard

Will The Fed Cut Rates In 2025? Powell Says It All Depends On Tariffs

Federal Reserve Chair Jerome Powell told Congress Tuesday that while inflation has cooled from its 2022 peak, it remains “somewhat elevated,” and the central bank is not ready to adjust interest rates, yet.

Benzinga

Federal Reserve chair defends holding interest rates after fresh Trump attacks

Jerome Powell says central bank is waiting to see tariffs’ impact on US prices as president claims ‘incompetence’

The Guardian - US

US Fed Chair To Signal No Rush For Rate Cuts Despite Trump Pressure

US Federal Reserve Chair Jerome Powell will tell Congress Tuesday that the central bank can afford to wait for the impact of tariffs before deciding on further interest rate cuts -- despite President Donald Trump's calls to do so.

International Business Times

Charitable giving grew to $593B in 2024, propelled by a strengthening US economy and a booming stock market

U.S. charitable giving increased 3.3% to US$593 billion in 2024, lifted by the strength of the economy.

The Conversation

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The Independent UK

Charitable giving in 2024 was up, according to new Giving USA report

Charities received $592.5 billion in donations in 2024, a 3.3% increase over 2023, after adjusting for inflation, according to the most recent ”Giving USA″ report, which takes a comprehensive look at U.S. philanthropy

The Independent UK

Interest rate decision-maker highlights dangers facing Bank of England

Stubbornly high inflation risks perpetuating price increases, says senior official

Evening Standard

Bank rate-setter in ‘uncomfortable place’ amid worries over stubborn inflation

Megan Greene said she is concerned that recent rises in inflation could see the outlook resemble a ‘plateau’ rather than a ‘hump’.

Fortune

A quarter of Americans now say they need to make at least $150,000 to feel secure—and inflation is largely to blame

Inflation has fueled a need for higher wages, but perceptions have also played a part, say experts.

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Benzinga

Fed Governor Michelle Bowman Backs July Rate Cut, Citing 'Contained' Inflation Pressure: 'Impact Of Tariffs...May Take Longer'

Federal Reserve Governor Michelle Bowman has expressed her support for a potential interest rate cut in July, provided that inflation remains subdued.

Benzinga

Adam Parker Walks Back April Earnings Cut, Analyst Says Tariff Risks Were Overblown: 'The Big 50 Companies Were Kind Of Immune'

Analyst Adam Parker, the founder of Trivariate Research, is reversing course on his earlier bearish outlook on U.S. corporate earnings, saying that fears around tariffs and inflation may have been overblown.

International Business Times

Japan PM To Face Tough Upper House Election On July 20

Japan will hold an upper house election on July 20, the government said Tuesday, with Prime Minister Shigeru Ishiba battling low approval ratings driven partly by public frustration over inflation.

Fortune

Ceasefire between Israel and Iran already being tested as markets bet it will stave off ‘stagflationary shock’

The rapidly unfolding events whipsawed world markets that briefly appeared to have avoided an oil shock and the uncertainty of a wider Middle East conflict.

AAP

Servos urged not to price gouge after oil price hike

The consumer watchdog is being urged to make sure motorists aren't ripped off at the bowser after Middle East strikes led to a surge in fuel costs.

Barchart

Stocks Rally on Hopes of De-Escalation of Hostilities in the Middle East

The S&P 500 Index ($SPX ) (SPY ) Monday closed up +0.96%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.89%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +1.06%. September E-mini S&P futures (ESU25 ) are up +0.96%, and September E-mini Nasdaq futures...

AAP

Orderly, coherent or flat-footed: PM rejects criticism

Anthony Albanese has dismissed suggestions he was "flat-footed" after US bombing raids on Iran, as he called for a ceasefire to hold between Iran and Israel.

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