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The Latest Breaking News from Inflation

India is doing better and in relative bright spot compared to others: IMF

WASHINGTON: When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund (IMF) official said on Tuesday.

The Times of India

Top Republicans frame vote for Walker as vote against Biden

CARROLLTON, Ga. — U.S. Sen. Tom Cotton mocked Democrats for backing sweeping legislative packages that promise so much spending that “it would be an insult to drunken sailors.” U.S. Sen. Rick Scott pinned the blame for high inflation and “men destroying women’s sports” on Democrats.

Tribune News Service

Joe Biden admits 'very slight' US recession possibility

WASHINGTON: President Joe Biden said a recession in the US is possible but that any downturn would be “very slight” and that the US economy is resilient enough to ride out the turbulence.

The Times of India

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Which Breaks First…Inflation or the Economy?

The market bounce has fizzled and we are now, once again, back to last week's lows. The impetus for this sharp move lower was the stronger than expected jobs report which dashed hopes of an imminent 'Fed pivot' due to a weak jobs report. Until we see a meaningful and…

StockNews.com

One in five families in Liz Truss’s seat would lose out under real-term benefit cuts

Research from the Joseph Rowntree Foundation shows impact of increasing benefits in line with earnings, not inflation

The Guardian - UK

One in five of all families face having their benefits cut in 200 Tory seats

New research shows the scale of the disaster hitting not just Brits on benefits, but the MPs they could turf out of office if Liz Truss goes ahead with plans to cut benefits

Daily Mirror

Hidden Reason for Bloodier Bear Market

We all know why stocks are falling at this time. That being a toxic combination of high inflation + hawkish Fed = future recession. So with the S&P 500 (SPY) already down 25% some investors are already talking about buying this as a bottom. RUBBISH! Before you make that fatal…

StockNews.com

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Price Hikes Don't Necessarily Translate to Higher Profits

Many big U.S. businesses say they have been able to increase prices this year with limited pushback from customers. Not all the changes are leading to higher corporate profits.

Bangkok Post

The global recovery winds down

The post-Covid recovery has run out of steam. The latest update to the Brookings-Financial Times Tracking Indexes for the Global Economic Recovery (Tiger) shows that growth momentum, as well as financial market and confidence indicators, have deteriorated markedly around the world in recent months, many countries are either in or…

Bangkok Post

2 Travel Stocks That Have Been Running at a Loss in 2022

The travel industry has been under pressure due to sky-high inflation and the rising odds of a recession. Moreover, the industry is struggling with an acute labor shortage. Hence, fundamentally weak travel stocks Carnival Corporation (CCL) and Norwegian Cruise Line (NCLH), which have incurred significant losses this year, could be…

StockNews.com

Pound falls sharply against dollar after Bank confirms bond-buying end date

Sterling falls more than a cent to below $1.10 after Andrew Bailey tells pension firms they have ‘got to get this done’

The Guardian - UK

Brazil's Guedes says IMF overlooked inflation surge, praises Brazil for 'acting early'

Brazilian Economy Minister Paulo Guedes criticized the International Monetary Fund for failing to spot surging inflation, saying it led to "misguided" advice, in contrast to early action in Brazil that he said has put the country ahead of the curve in controlling rising prices.

Reuters

Hot Inflation Numbers Could Crater Stocks 5% — And Larry Summers Says Prices Aren't Dropping Any Time Soon

The Consumer Price Index (CPI) data for September will be reported on Oct. 13 by the U.S. The Bureau of Labor Statistics. Analysts at JPMorgan Chase & Co and former U.S. Secretary of the Treasury Larry Summers weighed in on what is happening and what could happen.

Benzinga

IMF cuts 2023 global outlook over colliding global shocks

The three largest economies will ‘continue to stall’ and ‘the worst is yet to come’, it warned.

Al Jazeera

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The Guardian - AU

Australia predicted to avoid worst of downturn as IMF warns of global recession

Revenue boost will aid budget repair as ‘storm clouds’ loom over economy, Deloitte predicts

Benzinga

As Home Rental Prices Continue To Jump More Americans Are Behind On Their Rent

With the national home sales inventory disappearing and rising inflation and mortgage interest rates, the rental housing market is busting at the seams attempting to meet demand. And in some states, 25% of the people lucky enough to find available rental property are now behind on their monthly payments.

The Hindu

IMF cuts India’s FY 2022-23 growth forecast to 6.8%

The Fund cites Ukraine war, record-high inflation and effects of pandemic as key reasons; it expects inflation in the country to return to the tolerance band in the fiscal year 2023-24

Edinburgh Live

DWP Universal Credit claimants in Scotland could be '£290 worse off' next year

Households in Scotland claiming Universal Credit could be almost £300 worse off in real terms next year if the UK Government does not commit to increasing the benefit in line with inflation

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Daily Mirror

How Universal Credit cut would affect your payments as 8,000 hit in Liz Truss's seat

Liz Truss is still weighing up whether to raise benefits by earnings instead of inflation - which would be a real-terms cut. We've crunched the latest numbers on how it could affect you in April 2022

Manchester Evening News

Long-awaiting new leisure centre shelved due to budget cuts and spiralling inflation

The £20m building has been put on the back burner as the council faces a £16m budget shortfall

Bangkok Post

IMF cuts 2023 global growth, warns major economies to stall

Global growth is expected to slow further next year, the International Monetary Fund (IMF) said Tuesday, downgrading its forecasts as countries grapple with the fallout from Russia's invasion of Ukraine, spiralling cost-of-living and economic downturns.

The Independent UK

IMF dims outlook for 2023 global economy amid Ukraine war

The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia’s war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic

The Guardian - UK

IMF tells central banks to focus on inflation as recession looms

Fund says ‘worst yet to come’ because of rising living costs, Ukraine war and Chinese slowdown

The Guardian - UK

IMF criticises Kwarteng again over tax cuts and energy package

Fund says chancellor’s measures have made Bank of England’s battle against inflation more difficult

The Guardian - UK

UK petrol prices rise after Opec decides to cut oil production

Fuel price increase is blow to drivers amid soaring domestic energy costs and other inflation

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