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The Latest Breaking News from Inflation

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

The Guardian - UK

Scots families on Universal Credit could be '£290 worse off' if Liz Truss doesn't uplift benefit

The UK Government is under pressure from its own MPs to ensure Universal Credit is increased in-line with inflation.

Daily Record

Teaching union to ballot members over possible strike action

Children's education is suffering because relatively low pay and conditions means schools cannot fill vacancies and retain teachers, warned UCAC

Wales Online

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'Food is now an increasingly pressing concern' Food inflation predicted to almost DOUBLE

Families are already struggling due to the sharp rise in everyday items

Chronicle Live

Shoppers turn to wonky fruit and veg to cut bills as food prices rise

According to a new study, people are now paying an average of £643 more on groceries than last year as inflation has soared

Chronicle Live

Commentary: Here’s how companies can strong-arm their suppliers into cutting carbon emissions

The Inflation Reduction Act is both the most important federal climate legislation ever and sadly inadequate to protect the U.S. and the world from the effects of climate change. Where it falls short, states could intervene with tougher regulations — but many won’t. That leaves corporations, which can pressure their…

Los Angeles Times

Inflation: why France is holding up better than its neighbours (for now)

The combination of the Covid pandemic and energy crisis linked to the Ukraine war have put global financial stability in an unenviable position. Faced with rising uncertainty, policy-makers around the world have imposed a range of policies and restrictions. These, in turn, have rocked businesses and supply chains, causing the…

The Conversation

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Editorial: Biden's marijuana pardons are a good step, but more is needed

For a president in his late 70s, Joe Biden has been surprisingly forward-looking in many of his policy priorities, including the climate change-combating Inflation Reduction Act and action on the student debt crisis.

Tribune News Service

Egypt's Inflation Rate Rises to Near Four-Year High

Egypt’s annual urban consumer inflation rose to 15% in September, its highest in four years, data from the country’s statistics agency CAPMAS showed on Monday. Inflation increased to 15% year-on-year from 14.6% in August, according to CAPMAS data. This was the highest since November 2018, when it hit 15.7%. The…

Asharq Al-Awsat

Brits face paying extra £643 in the supermarkets as food inflation hits record high

Grocery inflation shot up to 13.9% over the 12 weeks to 2 October, according to researchers at Kantar - the highest it has been since the company began tracking prices during the 2008 financial crash

Daily Mirror

Exact number of Port of Liverpool jobs now at risk

Peel Ports has said Unite 'continues to make unrealistic and unsustainable above-inflation pay demands'

Liverpool Echo

What does inflation mean for you?

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

The Independent UK

UK unemployment falls but number of long-term sick rises to record high

Jobless level lowest since 1974 but pay growth still failing to keep pace with soaring inflation

The Guardian - UK

Germany will discuss US inflation act with Washington - Scholz

Germany will discuss the United States' Inflation Reduction Act with Washington to address competition concerns, German Chancellor Olaf Scholz said on Tuesday.

Reuters

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The Guardian - UK

Britons buy more ‘wonky’ veg and frozen food as living costs soar

Supermarket price inflation at record high, adding £643 a year to average family’s grocery bill

Asharq Al-Awsat

Asian Markets Swing on Recession Fears as Inflation Data Looms

Most markets fluctuated in Asian trade Tuesday as traders grow increasingly fearful that more big interest rate hikes will tip economies into deep recessions, with the mood also darkened by the worsening Ukraine war and worries over China's outlook. With the focus on inflation, analysts said consumer price index data…

Evening Standard

Food price inflation hits record highs adding £643 to annual shopping bills

Shoppers are turning to cheaper alternatives, such as wonky fruit and veg, to save money

The Conversation

Chalmers flags gas action, with escalating power prices a cost-of-living nightmare for government

High and rising power prices will become a bigger part of Australia’s inflation problem over time, Treasurer Jim Chalmers has warned, as he foreshadowed more government action to combat high gas prices.

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Daily Mirror

All the Tories demanding Liz Truss stops benefit cut as she faces Cabinet showdown TODAY

Liz Truss is still weighing up whether to raise benefits in line with inflation, despite an avalanche of opposition from Tories across the spectrum. We look at what a DWP Universal Credit cut would mean for you - and the MPs against it

The Hindu

Data | Energy inflation in Europe peaks at 40% as Russia squeezes oil supply

Despite high dependence on Russian oil, supply to most European countries has taken a hit

The Independent UK

Liz Truss news – live: Bank of England steps up intervention amid ‘risk to stability’

PM faces warnings of rebellions to come as MPs return to Commons

The Guardian - AU

Treasurer says Australia likely to avoid recession but admits global economy is ‘dangerous’

Jim Chalmers says spiralling energy costs the most ‘problematic aspect of our inflation problem’ through to mid-2023

USAFacts

Are major natural disasters increasing?

Nine out of the 10 years with the highest number of natural disasters occurred in the last decade.

The Independent UK

Price inflation buoys shop sales as cost-of-living woes hit shoppers

The latest BRC-KPMG retail sales monitor for September showed that price inflation offset a decrease in transactions by shoppers over the month.

Daily Mirror

Brit households warned food inflation predicted to almost DOUBLE to 20% after Christmas

Experts have predicted that food inflation in the UK could almost double in early 2023 with families already struggling from a sharp rise in the price of everyday items

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