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The Latest Breaking News from Inflation

Fashion Retailer H&M Posts Surprise Dec-Feb Profit

H&M, the world's second-biggest fashion retailer, reported on Thursday a surprise operating profit for the December-February period, despite weak demand as consumers curtailed spending amid soaring inflation. Operating profit in the Swedish group's fiscal first quarter was 725 million Swedish crowns ($69.73 million) against a profit of 458 million a…

Asharq Al-Awsat

Higher sugar prices pose new threat to food inflation

Sugar, consumed in everything from chocolate to fizzy drinks and baked products, is becoming ever more expensive, raising costs for the industry and keeping up pressure on global food inflation.

Bangkok Post

Watch: Historic voice bill, Pay rise push, Migrant surge

Watch: Union bosses are pushing for millions of low-paid Australian workers to receive a pay rise of 7 per cent to keep up with inflation as the fair work

The New Daily

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No economic growth forecast until next year as outlook ‘exceedingly uncertain’

The Scottish economy is forecast to shrink by 0.7% in 2023.

The Independent UK

Outlook 'now less certain' given mixed economic picture

Latest economic commentary highlights persistent inflation and recent banking collapses

Insider UK

Treasurer Jim Chalmers backs lift in pay rates ahead of minimum wage review, as unions push for pay rise to match inflation

Treasurer Jim Chalmers says a coming minimum wage review should not allow the lowest-paid workers to fall further behind, saying minimum wage earners are not driving inflation.

ABC News

Policy rate raised to 1.75%

The Bank of Thailand hiked its policy rate by 0.25 percentage points yesterday for a fifth consecutive meeting in an attempt to tame inflation as the economic recovery gathers steam.

Bangkok Post

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The Reserve Bank doesn't need an overhaul, Australia needs fairer policies, says former governor

Former governor Bernie Fraser says the Reserve Bank of Australia's attempt to improve the welfare of all Australians has been undermined by decades of neoliberalism.

ABC News

Stubborn inflation, tight labor market quite challenging, Miami Fed exec says

Inflation needs to be brought under better control before the Federal Reserve starts reversing its monetary policy of boosting interest rates, a Miami-based regional executive with the Federal Reserve Bank of Atlanta said Tuesday, during a regional economic summit at Key Biscayne.

Miami Herald

ACTU pushing for 7 pct rise to minimum and award wages

More than two million workers on minimum and award wages should get a seven per cent pay rise to keep up with the rising cost of living, the ACTU argues.

AAP

ACTU calls for ‘survival increase’ in wages of 7 per cent

Australian unions are pushing for a "survival increase" in the minimum wage as inflation and the cost of living crush lowest-paid workers.

The New Daily

3 of the Worst Stocks on Wall Street

Amid high inflation, banking failures in recent weeks, and tight monetary policy, the likelihood of an economic downturn has resurfaced. Given the gloomy market outlook, avoiding fundamentally weak stocks PAVmed (PAVM), PetVivo Holdings (PETV), and Sphere 3D (ANY) could be wise. Read more….

StockNews.com

1 Stock Investors Can't Get Enough Of

Consumer staples, like food, enjoy inelastic demand regardless of economic conditions. Amid the current inflationary atmosphere, fundamentally sound food-maker stock Grupo Bimbo (GRBMF) could be an ideal addition to one’s portfolio for steady returns. Continue reading.

StockNews.com

The 10 best places to live in America where your money will go the furthest

Texas suburbia seems to be the best bang for your buck during these inflationary times.

Fortune

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StockNews.com

3 Stocks Going Out of Fashion

The fashion industry currently grapples with an industry-wide lack of demand due to high inflation, increasing costs, and unstable supply chains. Given the industry’s headwinds, it might be wise to avoid fundamentally weak fashion stocks Hanesbrands (HBI), Allbirds (BIRD), and Express, Inc. (EXPR) now. Read more….

Asharq Al-Awsat

Egypt to Raise Food Subsidies Spending by 20% in FY 2023/24 Draft Budget

Egypt expects to raise its allocation for food subsidies by 20% and for petroleum products by 24% in the 2023-24 fiscal year, according to a draft budget approved by the cabinet on Wednesday. The budget forecasts GDP growth at 4.1% and inflation at an average rate of 16% during the…

Reuters

Disillusioned Bulgarians head to polls for fifth time in two years

In the rugged Rhodope mountains in southern Bulgaria, many voters have little hope that Sunday's parliamentary election, the nation's fifth in two years, will produce a stable government able to tackle corruption, inflation and poverty.

StockNews.com

3 of the Best Stocks in 1 of Wall Street's Worst-Rated Industry

After years of robust growth, the biotech industry has struggled since last year due to several headwinds, including regulatory concerns, inflation, and the Fed’s aggressive rate hikes, which have sucked out speculative capital. Despite currently being one of the poorly-rated industries, investors could consider buying top-biotech stocks Gilead (GILD), Vertex…

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The Texas Tribune

Two Texas Democrats will vote for GOP bill to reverse their own party’s signature climate improvement initiatives

Gonzalez and Cuellar both represent oil and gas workers in South Texas and expressed misgivings about the Inflation Reduction Act, their party’s climate package last year.

The Guardian - AU

Ignore the doomsayers, the sky won’t fall if Australian workers get a pay rise

There has not been a wages breakout even in this period of extraordinary inflation, yet the fear of one continues to be spread

The Guardian - AU

‘Simply about survival’: ACTU calls for 7% pay rise for lowest-paid workers to keep pace with inflation

Minimum hourly rate would rise to $22.88 – or $45,337 a year – if the Fair Work Commission grants the increase

Los Angeles Times

Inflation is declining, but health premiums and medical costs are heading higher

WASHINGTON — During the pandemic, health care costs — usually a main driver of U.S. inflation — remained surprisingly stable, rising just about 2% annually even as prices for many goods and services soared more than three or four times that rate.

The Guardian - UK

Jeremy Hunt promises to find extra cash to help fund public sector pay deals

UK chancellor tells MPs high level of inflation means Treasury support is necessary to avoid cutting frontline services

Asharq Al-Awsat

Britain’s Next Sees Lower Clothing Inflation, Shares Dip on Cautious Outlook

British fashion retailer Next (NXT.L) reported a better-than-expected 5.7% rise in annual profit on Wednesday and said it would not need to increase prices by as much as previously thought. However, it still expects higher spending on wages, energy and technology to reduce its profit this year, and the retailer's…

The Independent UK

Hunt says no decision yet on extra funding for public sector pay awards

The Chancellor has told the Commons Treasury Committee that there is ‘no room for complacency’ on inflation.

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