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The Latest Breaking News from Inflation

Editorial: The levers of Powell: The Federal Reserve pauses interest rate hikes, a caution that should continue

After 10 consecutive interest rate hikes meant to squeeze down inflation, the Federal Reserve on Wednesday held steady at a benchmark rate of between 5 and 5.25%, indicating that the aggressive intervention has yielded results and the central bank is easing off. Let’s hope this pattern holds, because the consequences…

Tribune News Service

Commentary: Why Schwarzenegger, Stallone and nostalgia for ‘80s action movies are back

Threats from Moscow. Rampant inflation. A deadly disease resisting eradication. Worries about the replacement of American workers. Sly. Ahnold.

Los Angeles Times

Tesco boss offers cautious hope that inflation is easing, as supermarket expects profits of up to £1.8 billion

But he added that bringing down prices was “not all straightforward”

Evening Standard

From analysis to the latest developments in health,
read the most diverse news in one place.

UK government urged to help mortgage holders as rates keep rising; company insolvencies jump 40% – as it happened

Lib Dems call for emergency mortgage protection fund, as new data shows two-year fixed rate mortgage has jumped to 5.98% and confidence in Bank of England falls

The Guardian - UK

Stock market today: Asian shares track Wall Street rally, Tokyo's benchmark at 33-year high

Shares have pushed higher in Asia after a broad-based rally on Wall Street

The Independent UK

Cost of family favourite meals like spag bol and fishfingers rises 27%

Experts have looked at exactly how much prices have changed at Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose

Nottingham Post

Cost of family favourite meals like spag bol and fish fingers rises 27%

Experts have looked at exactly how much prices have changed at Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose

Wales Online

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AGL’s profits to boom as customers suffer massive price hike

AGL Energy has upgraded its profit outlook on increased generation and a reduction in forced outages but expects bill stress to rise as inflation remains high.

The New Daily

AGL ups profit outlook amid 'tough period for everyone'

AGL Energy has upgraded its profit outlook on increased generation and a reduction in forced outages but expects bill stress to rise as inflation remains high.

AAP

Thai growth set to beat BoT forecast

The Bank of Thailand expects GDP growth to exceed its forecast, with the economic policies of the new government driving expansion alongside tourism and consumption growth.

Bangkok Post

Cost of pasta bake, fish finger supper and spag bol up by 27%, Which? finds

The cost of a regular fish finger supper with chips and beans has risen from £3.06 to £3.79 over the last year, Which? found.

The Independent UK

Cost of making family favourite meals soars by up to 27% - see list of biggest rises

New data from Which? analysed prices of almost 26,000 food and drink products at eight major supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose

Daily Mirror

Centre says stoppage of rice and wheat supply to States is aimed at controlling inflation

Under the scheme, the Karnataka Government has promised to provide 10 kg of food grains/rice to every member of a Below Poverty Line (BPL) household.

The Hindu

There won’t be a true recession anytime soon—but a ‘growth recession’ is still on the menu next year, BofA warns

Bank of America's chief economist Michael Gapen revised his recession forecast again this week, citing strength in the labor market—but he says a "growth recession" is still coming in 2024.

Fortune

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Fortune

America’s latest inflation wave is all about corporations ‘using excuses’ and ‘cover’ to increase profits, says top UBS economist

“We’re seeing this expansion of margin under the cover of, ‘Oh, it’s a general inflation problem, we can’t help it,’ Paul Donovan of UBS said Thursday.

StockNews.com

3 Tobacco Stocks to Add to Your Watchlist in June

Despite facing several challenges, tobacco companies continue to bring newer products to drive their growth. Tobacco use will likely grow, with inflation easing considerably from last year’s peak. Therefore, it could be wise to add fundamentally strong tobacco stocks such as Altria Group (MO), British American Tobacco (BTI), and Vector…

Barchart

Lumber Could Have Found a Bottom – What’s Next?

The lumber futures market remains illiquid, but the price has been edging higher over the past weeks. At over $500 per 1,000 board feet, lumber’s price is above the pre-2018 all-time $493.50 high. Meanwhile, the new physical contract continues to experience increasing interest.

The Independent UK

Childcare costs have gone up by 220% in the US since 1990, new report finds

Report found that childcare costs are surpassing the rise of inflation

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Barchart

Stocks Rebound on Hopes Fed is Near the End of its Rate Hike Campaign

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.46%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.68%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.41%. U.S. stocks this morning shook off early losses and...

Zenger

Deflation Pushes Producer Prices To 28-Month Lows Ahead Of Fed’s Interest Rate Decision

The PPI print follows the May consumer price index (CPI) reading, which came in lower than expected.

The Guardian - UK

ECB raises interest rates by quarter of a point to tame inflation

Move marks eighth successive rise, highlighting struggle to cool price rises amid juddering growth

Evening Standard

Bills, bills bills? Beyoncé blamed for surprise hike in Swedish inflation

Hordes of fans travelled from overseas to see the shows, taking advantage of lower ticket prices and boosting demand for hotels and restaurants

Evening Standard

OPINION - ‘Worrying spike in mortgage costs but markets could turn for the better’

If the markets assess that inflation may fall back quicker than current expectations, then lenders may also consider bringing back better deals

Barchart

Markets Today: Stocks Fall on Hawkish Global Central Banks

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are down -0.50%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.79%. U.S. stock index futures this morning are moderately lower on concern major central banks will keep interest rates higher for longer to contain inflation. The...

The Conversation

Inflation: why prices look likely to stay high in the UK and Ireland, and what that means for mortgages

The European Central Bank (ECB) has raised its three key interest rates by 0.25% to their highest levels in more than 20 years. The ECB’s “main refinancing rate” which dictates the cost of borrowing across much of Europe, including for people with tracker mortgages in Ireland, will rise from 3.75%…

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