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The Latest Breaking News from Inflation

U-turn could cost pensioners £442 a year from next April

“A reduced pension rise, combined with a cut in help on energy bills, could be part of a ‘double whammy’ for millions of pensioners”

Wales Online

UK inflation jump calls for matching rise in state benefits

Standard formula means payments would increase by 10.1% but Jeremy Hunt could choose cheaper option

The Guardian - UK

Government refuses to commit to raising benefits and pensions in line with soaring inflation

Labour accuses government of ‘generating further anxiety’

The Independent UK

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Pensions set for bumper increase after Truss says triple lock is being protected

Prime Minister Liz Truss insisted ‘we are protecting the triple lock on pensions’.

The Independent UK

Exact amount your Universal Credit and state pension could be cut in April by Liz Truss

How much is the UK state pension and what is the forecast for its rise if Liz Truss scraps the triple lock? As the UK September inflation rate is confirmed to be 10.1%, we explain what it all means for pension and benefit payments

Daily Mirror

Clashes break out as French strike for higher wages

Dozens of black-clad protesters clashed with police and broke shop windows on the margins of a demonstration when several thousand people took to the streets of Paris to call for wage hikes as high inflation eats away their purchasing power.

Radio France Internationale

UK inflation accelerates to 40-year-high amid food cost rise

U.K. inflation accelerated to a 40-year high in September as the soaring cost of food squeezed household budgets

The Independent UK

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Liz Truss says Government committed to pensions uplift after Tory MPs threaten revolt

Tory MP Steve Double said the Prime Minister’s “position is becoming increasingly untenable”.

Evening Standard

Inflation back to 40-year high as food costs rise by more than 14%

The headline inflation rate has risen to 10.1%, largely driven by the quickest increase in food prices in 40 years

Chronicle Live

Food prices push UK inflation back to 40-year high

Consumer Prices Index inflation reached 10.1% in September,

Insider UK

Inflation returns to double-figures as food prices surge

Food prices soared by 14.6 per cent, the fastest rate of increase in 40 years

Evening Standard

FTSE 100 Live: Inflation at 10.1% as food prices surge, fuels rates rise pressure

UK inflation is back in double digits after soaring food and drink prices sent September’s annual rate to an equal 40 year high of 10.1%.

Evening Standard

UK inflation rises back to 40-year high of 10.1% as food prices soar

Food prices rose by 14.6% in the 12 months to September

The Independent UK

Inflation rises to 10.1% and could be good for pensioners and Universal Credit

This is the figure the Government should use to determine how much DWP benefits will be from April

Wales Online

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Daily Mirror

State pension to rise by up to £972 a year as Liz Truss says she WILL keep triple lock

The state pension is due for a bumper rise next year as inflation hits 10.1%, but the Conservatives have dropped heavy hints that this could be snatched away in 2023, which experts are calling a 'slap in the face' for retirees

WEKU

The IRS is increasing the standard deductions for 2023 as inflation intensifies

The IRS is increasing energy-related tax breaks, as well as standard deductions for single and married people and heads of households.

Insider UK

More Scottish businesses in financial distress as property and logistics firms hit by inflation and economic turmoil

Rate of distress in Scotland rise more quickly than in other parts of UK

Daily Mirror

Inflation surges to above 10% in fresh cost of living blow for millions of Brits

CPI inflation hit 10.1% in the 12 months to September - up from the 9.9% recorded the month before and still at the highest levels seen in 40 years - as the cost of living crisis continue to squeeze finances

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Wales Online

£752 cut to Universal Credit and other DWP benefits could be announced in days

The Government has refused to say when its decision will be announced

Insider UK

Scottish retailers face tough Christmas as inflation rises wipe out real-terms sales growth

'Consumers were more cautious last month, avoiding large ticket items'

Wales Online

Inflation set to return to double figures as food prices surge

Office for National Statistics to reveal the latest increase in the cost of living for UK households

The Independent UK

Low-income families to lose out ‘if benefits rise is not calculated by inflation’

A family with two kids earning less than £24,700 will lose out by more than £600 in 2023/24 if benefits are increased in line with earnings.

StockNews.com

Black Swan Warning for Investors

We all appreciate why high inflation and a hawkish Fed is a bad combination for the stock market (SPY). However, this ill tasting tonic also reawakens serious concerns that could lead to much greater economic devastation and investment losses. 40 year investment veteran Steve Reitmeister spells out this potential “black…

The Independent UK

Georgia Republican seeks to put 2020 aside for other issues

Republican state Sen. Burt Jones is running for Georgia lieutenant governor on a platform of fighting inflation and crime and improving education

Tribune News Service

Even as US inflation climbs, Wall Street sees steep fall coming

Many Wall Street economists are holding firm to their bet that U.S. inflation will slow substantially over the next year even as they’re being forced to keep raising their predictions for coming months.

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