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The Latest Breaking News from Inflation

3 Penny Stocks to Buy for Under $3 in November

The October inflation report has raised optimism. However, inflation is far from the Fed’s target, and rate hikes could continue. Amid widespread recession fears, quality penny stocks trading under $3, Overseas Shipholding (OSG), Good Times Restaurants (GTIM), and Educational Development (EDUC) could be solid buys instead of high-priced stocks. Read…

StockNews.com

England's £115 Qatar World Cup shirts made by Thai factory workers paid just £1 an hour

Fans have expressed outrage at the prices for the current strip and costs have risen faster than inflation - with 'stadium' shirts starting at just under £75, while the 'match' shirts similar to the ones the players wear cost £40 more

Daily Mirror

At Manny’s, corned beef on rye’s price is up, but, like many restaurants, deli’s still struggling amid high inflation

Higher costs are pummeling restaurants. Many have cut hours and portions and raised prices. Lou Malnati’s Pizza raised prices 8% across the board — more in a year “than ever in our history.”

Chicago Sun-Times

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Austerity gutted the welfare state – preserving benefits now can't make up for that

Many people on low incomes will have breathed a sigh of relief when the UK Chancellor, Jeremy Hunt announced, in his autumn statement on November 17 2022, that he would be increasing benefits by 10.1% in 2023. This is almost in line with the rate of inflation.

The Conversation

Jeremy Hunt statement sets scene for ‘grim’ fall in living standards

Recession to last until 2024 as taxes climb to highest level since Second World War

The Independent UK

U.S., South Korean trade officials discuss Inflation Reduction Act at APEC -U.S. statement

U.S. Trade Representative Katherine Tai acknowledged Seoul's concerns with the U.S. Inflation Reduction Act during a meeting with South Korea's Trade Minister Ahn Dukgeun at the Asia-Paciﬁc Economic Cooperation (APEC) summit in Bangkok, Tai's office said on Friday.

Reuters

5 Fallen Stocks to Continue to Avoid This November

While the October inflation report came in better than expected, it is far from the Fed’s target. Amid rising recession odds, consumer sentiment is declining. Therefore, fundamentally weak stocks NVIDIA (NVDA), Carnival Corporation (CCL), AMC Entertainment (AMC), Peloton Interactive (PTON), and Mullen Automotive (MULN), which have been slumping in price,…

StockNews.com

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Don’t Let Anyone Steer You Into Buying These 3 Stocks

The sky-high inflation is far from the Fed’s target, heightening the recession concerns. Cruise companies might feel the brunt as consumers tend to cut back on discretionary spending during economic slowdowns. Thus, we believe fundamentally weak stocks such as Royal Caribbean Cruises (RCL), Carnival Corporation (CCL), and Norwegian Cruise Line…

StockNews.com

Portugal's public sector workers strike over pay as living costs soar

Thousands of Portugal's doctors, nurses, teachers and civil servants walked off the job on Friday to demand wage increases amid rampant inflation, challenging the majority Socialist government a week before a final vote on the 2023 budget.

Reuters

State pension to increase to £203.85 a week but warning issued

The state pension will increase in line with inflation

Liverpool Echo

Relief meets fear as UK budget calms economy but brings pain

Britain’s Conservative government is defending its decision to hike taxes for millions of working people in the “squeezed middle” class as it tries to shore up an economy battered by double-digit inflation

The Independent UK

The full list of benefits going up by 10.1 per cent next year

A wide range of benefit payments will increase in line with inflation next year

Manchester Evening News

Emily Sheffield: A bad hand played well still leaves Jeremy Hunt with a mountain to climb

Make no mistake, the contents of this financial statement are hitting the ‘just about managing’ middle classes devastatingly hard. No jam in sight anywhere for the JAMs… By freezing the basic and higher rate income tax thresholds until 2028, the Treasury hopes to raise £6 billion, as this stealth tax…

Evening Standard

Super funds return to growth, but retirement still gets more expensive

Rising inflation means Australians will need a bigger superannuation nest egg to provide a comfortable retirement.

The New Daily

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The New Daily

Michael Pascoe: Once more for the dummies – we need higher wages

Inflation is more than double the headline wages growth – wages are lagging, not leading, Michael Pascoe writes.

The Guardian - UK

‘This isn’t fair’: public sector workers react to autumn statement

A teacher, a civil servant and an NHS nurse say spending is not enough to tackle costs and avoid strikes

The Conversation

Jeremy Hunt's autumn statement is a poisoned chalice for whoever wins the next election

UK Chancellor Jeremy Hunt has produced a highly political autumn statement that throws forward major cuts in public spending to after the next general election. The accompanying economic forecast by the government’s Office for Budget Responsibility (OBR) confirms that the country is facing a recession, with unemployment rising, inflation still…

The Independent UK

Lagarde warns ECB may do more than withdraw stimulus

The president of the European Central Bank is warning the bank may have to raise interest rates beyond merely withdrawing stimulus and into territory that could restrain growth

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The Guardian - UK

Hunt’s plan may please the markets, but austerity without real growth would be fatal

There will be no recovery unless the chancellor addresses low productivity, the green economy and trading relations post Brexit, says economist Mohamed El-Erian

Daily Mirror

Budget questions answered: What Jeremy Hunt's Autumn Statement really means for you

Living standards are set to fall by seven per cent as almost all Brits will face more taxes and energy bill support has been weened down too

The Independent UK

What does inflation mean for you?

Cost of living crisis continues to bite as energy bills, fuel and food prices climb

The Independent UK

German industrial workers to get pay raises in 2-year deal

Germany’s biggest industrial union has agreed with employers on a pay deal that will see millions of workers get raises totaling 8.5% over two years as well as one-time payments meant to cushion the effect of sky-high inflation

The Guardian - UK

Hunt denies planning to lift fuel duty; pound higher despite grim outlook – as it happened

The government has made “no decision” on whether to increase the rate of fuel duty on petrol, Jeremy Hunt insists as he defends autumn statement

Radio France Internationale

Inflation pushing more French people into poverty, charity warns

Skipping meals or going into debt – that's the difficult choice facing hundreds of thousands of people in France daily, according to the latest annual report by French charity Secours Catholique.

Wales Online

What Jeremy Hunt's stealth taxes mean for you - experts explain autumn statement

Spending cuts announced in the autumn statement have been widely dubbed “Austerity 2.0”

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