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The Latest Breaking News from Inflation

Londoners face £1,000 hike in monthly mortgage bills as BoE fights runaway inflation

The average two-year rate continued to surge today, hitting 6.19%

Evening Standard

Interest rates – live: UK ‘set for recession’ as under-fire bank chief attacks businesses

Bank raises UK interest rate to 5 per cent from 4.5 per cent

The Independent UK

Turkish central bank faces key test on economic turnaround after Erdogan's reelection

Turkey's central bank faces a key test on turning to more conventional economic policies to counter sky-high inflation after President Recep Tayyip Erdogan’s recent reelection

The Independent UK

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Bank of England is set to hike rates to battle inflation. That means pain for borrowers

The Bank of England is poised to raise borrowing costs again to combat stubbornly high inflation, which has failed to come down from its peak as quickly as expected

The Independent UK

Bank of England set to raise interest rates again as high inflation sticks

Economists agree that the Bank is likely to raise interest rates on Thursday, and that more hikes are on the horizon

Evening Standard

Why does the RBA want unemployment to go up? And what has it got to do with inflation?

The Reserve Bank deputy governor’s assessment that unemployment was ‘too low’ to tame inflation drew anger from unions. But was it correct?

The Guardian - AU

Arla warns of further price rises unless labour shortage addressed ‘urgently’

The UK’s largest dairy cooperative said the industry labour shortage was fuelling food price inflation.

The Independent UK

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Majority Of Americans Maintain Or Increase Eco-Friendly Habits Despite Inflation Costs

New survey reveals popular environmentally-friendly behaviors adopted by Americans in 2023

Zenger

Rishi Sunak says he feels ‘deep moral responsibility’ to cut inflation

Prime minister to say it is imperative he ‘hold his nerve’ in commitment to half inflation

The Independent UK

Labour piles pressure on Sunak with plan to prevent ‘mortgage catastrophe’

Shadow chancellor Rachel Reeves says party would force banks to take a range of steps to protect borrowers

The Guardian - UK

Labour would force banks to help struggling borrowers to diffuse ‘mortgage bomb’

Chancellor Jeremy Hunt was accused by his Labour shadow Rachel Reeves of ‘standing by’ as millions struggle.

The Independent UK

Stocks Fall as Fed Chair Powell Reiterates Hawkish Bias

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Wednesday fell -0.52%, the Dow Jones Industrials Index ($DOWI ) (DIA ) fell -0.30%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) fell -1.35%. U.S. stocks on Wednesday fell after Fed Chair Powell, in his semi-annual...

Barchart

Tories inflicting 'living nightmare' of rampant inflation and soaring mortgages on UK

With another Bank of England rate hike predicted for today, the Government is accused of being out of ideas and clueless about people’s financial predicament

Daily Mirror

Dollar Falls Despite Powell’s Hawkish Bias

The dollar index (DXY00 ) on Wednesday fell -0.46% on bearish technical sentiment, with the dollar index knocking on the door of last week’s 5-week low. The forex market remains focused on monetary policy differentials, with the ECB and Bank of England continuing to raise interest rates while the Fed...

Barchart

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The New Daily

Alan Kohler: Time to revisit the Allan Fels system of price control – naming and shaming

It’s time to revisit the Fels system of price control.That is – put some resources into price surveillance, and name and shame the gougers.

The Independent UK

Biden's 3 Federal Reserve nominees appear likely to win Senate approval

President Joe Biden’s three nominees for the Federal Reserve’s Board of Governors pledged to fight inflation during a confirmation hearing that drew only modest pushback from Republican members of the Senate Banking Committee

Fortune

5 reasons why top economist Mark Zandi says ‘this time is different’ and he’s ‘betting against’ a U.S. recession

“This time is different,” Moody’s Analytics’ chief economist wrote in a CNN op-ed Tuesday. “Odds are that we will buck history and avoid recession.”

The Independent UK

Rishi Sunak warned of ‘serious shock’ for mortgage holders as Bank of England poised to raise interest rates

Experts warn 1.4m homeowners will see a fifth of their disposable income wiped out by soaring mortgage rates

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Barchart

Markets Doubt FOMC Will Follow Through on its Forecast for +50 bp Rate Hike

Fed Chair Powell today presented his semi-annual testimony before the House Financial Services Committee. Mr. Powell will appear Thursday before the Senate Banking Committee and repeat his prepared testimony, although he will answer different questions from panel members. Mr. Powell’s prepared statement today was in line with his comments last...

Barchart

Stocks Lower as Fed Chair Powell Reiterates Hawkish Bias

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.43%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.18%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -1.08%. U.S. stocks are lower today after Fed Chair Powell,...

Evening Standard

OPINION - The problem: Britain’s economy cannot grow without generating inflation

“I ask the court to judge which is worse,” urges the handsome but painfully earnest Dylan McDermott. “A lie that draws a smile or a truth that draws a tear?” This rhetorical flourish is problematic even by Hollywood’s standards, given that Kris Kringle’s lawyer in Miracle on 34th Street appears…

Evening Standard

Bank of England interest rates hit 5% as Andrew Bailey says ‘We know this is hard’

Jumbo hike of half a percentage point is the 13th consecutive rise, cost of borrowing to its highest since 2008

Fortune

In a summer of Ticketmaster scandals, 'revenge spending' and inflation, Robert Smith of The Cure is the hero we need

The goth icon speaks for all of us: "I AM AS SICKENED AS YOU ALL ARE."

GamesRadar

Zelda: Tears of the Kingdom is getting (partial) blame for the UK's record inflation

Zelda gets her very own 'Beyonce Effect'

Evening Standard

OPINION - Bank of England acted too late on inflation and now homeowners will pay

This morning’s UK inflation data can be described in just two words: truly horrible. With headline inflation stuck at 8.7 per cent and core underlying inflation rising from 6.8 per cent to 7.1 per cent, the Bank of England is facing a huge problem. Most thought the Bank’s key policy…

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