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The Latest Breaking News from Inflation

With inflation soaring, reliance on credit to meet monthly expenses has increased for 62% in India: Survey

NEW DELHI: Soaring inflation in India has pushed up expenses sharply. A survey by fintech major BankBazaar said nearly 62% of people have been relying on credit to meet their daily expenses, while savings have gone down for almost 80% of India's salaried class.

The Times of India

Bank of Thailand to hike rates gradually to contain inflation

The Bank of Thailand (BoT) will raise interest rates gradually to curb inflation risks and ensure a smooth recovery as the economy is expected to return to pre-coronavirus-pandemic levels late this year or early next year, BoT governor Sethaput Suthiwartnarueput said.

Bangkok Post

No kerosene, no food, Sri Lanka's fishermen say

As the sun rose over Sri Lanka one morning in late August, around a dozen fishermen were laying out their nets on a beach in Mannar, a small island just off the country's northwestern coast, the start of the day's work.

Reuters

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How the latest RBA interest rate rise will impact WA, the most mortgaged state in Australia

Data shows WA is the most mortgaged state in the country and has the largest gap between wage growth and inflation, but comparatively low house prices continue to shield sandgropers from further pain as interest rates rise yet again.

ABC News

Biden touts legislative record as midterms approach

The news is filled with stories about investigations into former President Donald Trump and the fallout over the Supreme Court's ruling on abortion

The Independent UK

2 Vulnerable Social Media Stocks to Get Rid of Now

U.S social media ad sales have cooled since last year due to the inflationary backdrop. Moreover, with ad spending expected to slow down next year, we think the social media stocks Twitter (TWTR) and Snap (SNAP) might be avoided now. Read more….

StockNews.com

Kwasi Kwarteng: Long-term Liz Truss ally to hold nation’s purse strings

The new Chancellor inherits an economy forecasted to plunge into a prolonged recession as inflation soars to eye-watering levels

Evening Standard

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Cost of living and climate are higher global priorities than Ukraine, poll finds

But there remains strong support in many countries for Russian military withdrawal from Ukraine, survey finds

The Guardian - UK

GDP lifts 0.9pct in June quarter

Real GDP increased by 0.9 per cent for the June quarter and was 3.6 per cent higher over the year to June.

AAP

Economists predict slowdown for Australian economy as interest rates continue to rise

Soaring commodity exports and positive agricultural forecast expected to be balanced by Reserve Bank’s moves to counter inflation

The Guardian - AU

Inflation pushes minimum wages higher in some states

DENVER — Low-wage workers in more than a dozen states — and many more cities — could get unexpectedly large raises next year, thanks to minimum wage increases that will reflect soaring consumer prices.

Tribune News Service

3 Great Stocks You Can Buy for Less Than $50 Right Now

The stock market has been under pressure amid the high inflation and the Fed’s hawkish tilt. However, the favorable August job report could help the Fed achieve a soft landing. Given this backdrop, we think investors should invest in fundamentally sound stocks The Kroger (KR), Hillenbrand (HI), and Genie Energy…

StockNews.com

Where’s Ted Budd in campaign for US Senate race? Maybe right where he wants to be

CHARLOTTE, N.C. — Republican Rep. Ted Budd is “MIA on the campaign trail,” the N.C. Democratic Party said in an August email to supporters.

Tribune News Service

Taoiseach Micheal Martin promises cost of living package will be 'substantial'

'We will go as far as we can, in terms of resources we have and ensure we don’t make the inflation situation worse'

Irish Mirror

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The Independent UK

We need to be prepared for what Trussonomics will mean

What we are about to get is the exact opposite of Thatcherism: an inflationary boom where we try to live beyond our means, but delivered with Thatcheresque determination, writes Sean O’Grady

Los Angeles Times

A hyperpolarized, deeply fragile 2022 election: Democrats’ energy over Roe blunts GOP advantage

At the start of 2022, the political consensus was Democrats were toast. Inflation was at record highs, President Joe Biden’s approval numbers were slumping and precedent pointed to odds heavily stacked against the party that held the White House in the November midterms.

Glasgow Live

The biggest supermarket price rises revealed out of Morrisons, Tesco, Asda and Aldi

Supermarket prices have continued to rise alongside energy bills and inflation rates, as the cost of living soars even further - but which out of the big six stores have increased the most?

The New Daily

RBA raises rates for a record fifth month, but many are yet to feel mortgage pain

Households will be hit with another hike in their mortgage bills after the RBA increased interest rate for a record fifth month in a row.

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The New Daily

Food prices to soar another 5.5 per cent over next year: Deloitte

Australians are being warned that much higher food price growth could become the norm at major supermarkets as grocery inflation continues to soar.

The Guardian - UK

UK construction industry shrinks as recession looms

Builders report customers are putting new work on hold as inflation reaches 40-year high

The Conversation

Australians on unemployment benefits are set for two record paydays – but it's a sign of a broken system, long overdue for a fix

Australians on our humiliatingly-low unemployment benefit are about to get their biggest payday ever.

Wales Online

University staff in Wales ballot for action over 3% pay rise, working conditions and pension cuts

Staff at all eight universities in Wales are being balloted

Tribune News Service

Matthew Yglesias: A debate over the deficit is just what America needs

With unemployment low, inflation high and interest rates on the rise, the time is right to bring back an old idea: bipartisan talks to reduce the federal budget deficit.

Bangkok Post

Thai, emerging Asia equities see biggest monthly foreign inflow in 20 months

Emerging Asian equities ex-China saw massive foreign purchases in August due to a rise in risk appetite based on tempered inflation expectations.

Wales Online

Petition calling for cut in retirement age to 60 must get Government response

The petition already has over 61,000 signatures and is well on its way to being debated in Parliament

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