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The Latest Breaking News from Inflation

UK budget deficit falls in June but experts say tax cuts are unlikely

Jeremy Hunt says government needs to keep fiscal discipline as it attempts to halve inflation

The Guardian - UK

Congress leader Priyanka Gandhi hits out at PM Modi over inflation and violence at a rally in Gwalior

During her 33-minute-long address, Priyanka said, “The back-breaking price rise is the titanic issue and it’s not merely about foodstuff – tomatoes are selling for Rs 150 per kg. Read further on Dynamite News:

Dynamite News

Average fixed homeowner mortgage rates edge up following dip

The mortgage market remains volatile, according to Moneyfactscompare.co.uk, which released the figures.

The Independent UK

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read the most diverse news in one place.

India’s ban on rice exports raises fear of global food price rises

Attempt to curb domestic inflation behind country’s decision on non-basmati white rice

The Guardian - UK

London Underground strikes called off; UK government borrowing falls – as it happened

Planned tube strikes next week called off after talks breakthrough; government borrows £18.5bn in June, third-highest June borrowing on record

The Guardian - UK

August dates for DWP cost of living payments, benefits and pensions

Food inflation lodged at 18.4 per cent, ONS warns, but supermarkets expect prices to begin to fall

The Independent UK

Retail sales fall for June but by less than expected

Numbers look like a reality check on hopes that inflation has started to plunge

Evening Standard

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President Biden talked ‘Bidenomics’ at the Philly Shipyard. Here’s what it means.

President Biden has a new reelection campaign catchphrase: Bidenomics.

The Philadelphia Inquirer

The U.S. could slash climate pollution, but it might not be enough, a new report says

The Inflation Reduction Act could help the U.S. cut greenhouse gas pollution up to 42% from 2005 levels by 2030. That's still short of what the country promised under the Paris Climate Agreement.

WEKU

Reserve Bank might be using sledgehammer to crack a nut

Prominent economists say a broad range of economic policies are needed to tackle inflation with RBA rate hikes ineffective against key sources of inflation.

AAP

Unconvinced by the Bank of England on inflation’s causes and solutions

Letters: Michael McLoughlin and Alan Whitehouse on recent attempts at control from the chancellor and the Bank of England governor

The Guardian - UK

Floridians to DeSantis: Come home and fix housing crisis, other woes

TALLAHASSEE — While Gov. Ron DeSantis barnstorms the country campaigning for president, a growing chorus of Floridians are urging him to come home to deal with the state’s soaring housing costs and other problems.

Orlando Sentinel

Grade inflation at English universities falls for first time in a decade

Some 32.8% of students were awarded a first class degree in 2021/22, a drop of 4.6% on the year before.

The Independent UK

‘It’s for the future’: NHS doctors in Manchester striking for pay that ‘keeps workforce’

Consultants say they are taking action because below-inflation pay rises are damaging retention

The Guardian - UK

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news in one place.

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WEKU

Inflation may be cooling, but the housing market is still too hot for many buyers

The median home price has risen to $413,800 – the second-highest price ever — thanks to a shortage of homes on the market and high mortgage rates. Experts say renting may be a better option.

The Guardian - UK

Bank of England risks recession with interest rate rises, Mervyn King says

Warning from ex-governor adds to concerns about economy with Bank tipped to raise rate above 5%

The Independent UK

Turkey hikes interest rates in another sign of economic normalcy. But markets expected more

Turkey’s central bank has raised its key interest rate in another sign of commitment to a traditional path of battling inflation

The Guardian - UK

Hope for homebuyers as rates fall on UK fixed mortgage deals

Small drops in average rates for two- and five-year fixed mortgages follow easing of inflation rate in June

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The Independent UK

Upward march in two and five-year fixed mortgage rates goes into reverse

Average two and five-year fixed-rate homeowner mortgages edged down on Thursday, according to figures from Moneyfactscompare.co.uk.

The Week

How to ask for a pay rise to combat inflation

Average wages in the UK are now rising faster than inflation, meaning employees should act sooner rather than later if they want a pay rise. But how should you go about trying to get one?

The Guardian - UK

Make your price labels clearer, watchdog tells UK supermarkets

CMA says stores not stoking food inflation as it looks into competition on key categories such as milk and baby food

The Independent UK

Average mortgage rates fall for first time in months amid surprise drop in inflation

Rwo and five-year fixed-rate deals have dropped for the first time since the spring

The Independent UK

Mr Kipling cakes firm says food cost inflation is ‘past its peak’ so no more price hikes this year

The group said trading profits for the full year were set to be at the top end of market expectations

The Independent UK

Food price inflation not driven by weak supermarket competition, says watchdog

The Competition and Markets Authority said there was evidence of stronger price competition between supermarkets than in the fuel market.

Evening Standard

No dancing with joy just yet to the tune of decreased inflation

City Voices: Most people are yet to see the benefits of falling inflation

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People

Marjorie Taylor Greene

Priyanka Gandhi Vadra

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