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The Latest Breaking News from Inflation

What does the rising rate of inflation mean for you?

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

The Independent UK

Truss poised to plunge UK economy into ‘inflation spiral’, says Sunak

Truss cannot deliver £50bn tax cuts and support packages without pushing debt to dangerous levels, says Tory leadership rival

The Guardian - UK

‘The world flipped upside down’: will end of Roe galvanize Democrats’ base in midterms?

Democrats believe a brewing backlash after June ruling will reshape the battle for control of Congress and statehouses this fall

The Guardian - US

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Union calls for universities to use £3.4bn surplus to raise staff pay, or face strikes

Sector needs to invest in people rather than ‘shiny new vanity projects’, says UCU general secretary

The Guardian - UK

Asian stocks mixed before Fed meeting after China cuts rate

Asian stock markets are mixed after China cut an interest rate that affects mortgage costs

The Independent UK

George Hook says debt nearly destroyed marriage and believes recession 'inevitable'

And he believes a recession is inevitable after such a rise in inflation.

Irish Mirror

Powell has chance to reset market expectations at central bankers' gathering

Federal Reserve Chair Jerome Powell will have a chance — if he wants to take it — to reset expectations in financial markets when central bankers gather this week at their annual Jackson Hole retreat.

Tribune News Service

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Warning 'toxic cocktail' of energy bills and inflation will leave Scots freezing or starving

The Citizens Advice service warned that the huge increase it has seen in Scots seeking help to meet basic food and heating costs will get worse.

Daily Record

Rs 70,000 crore pulled out from debt MFs in June quarter

NEW DELHI: Investors continued to withdraw from mutual funds focused on investing in fixed-income securities for the third consecutive quarter and pulled out over Rs 70,000 crore in April-June due to high inflation and an increasing rate cycle.

The Times of India

Liz Truss will cause inflation spiral with ‘dangerous’ tax cuts, Rishi Sunak warns

Tory leadership contest rattles on as Labour poll lead grows

The Independent UK

Where do the RBA and economists now stand on wages growth?

Decision makers are torn between wanting to lift wages for fairness and consumption, and wanting to keep wages down to control inflation.

The New Daily

The Reserve Bank and the war on inflation

Why is the Reserve Bank facing flak from every angle over its economic handling of the pandemic?

Newsroom.co.nz

Sainsbury's record price for pint of milk amid cost of living crisis

Higher dairy prices have been one of the biggest drivers of food inflation

Nottingham Post

Germany considering follow-up to 9-euro monthly transport pass - Scholz

German Chancellor Olaf Scholz on Sunday called the monthly 9 euro ticket for public transport that his government introduced to help offset soaring inflation a "big success" and announced talks for a follow-up scheme.

Reuters

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The Guardian - UK

How to tackle the UK cost of living crisis – the main economic ideas

Our writers assess and cost the key ideas floated so far, from targeted help to the most vulnerable to a new windfall tax

The New Daily

Superannuation jumps in July but retirees lose out to inflation

Super returns jumped during July but retirees are going backwards with inflation eating into their living standards over the last year.

Al Jazeera

Workers begin strike at UK’s largest shipping container port

The strike is the latest action by workers in an array of industries calling for higher pay amid sky-high inflation.

The Conversation

Nigerians feel the pinch as food prices continue to spiral. There aren't easy solutions

Nigeria is grappling with rising food prices, as reflected in the spike in inflation. The annual inflation rate accelerated for a sixth straight month to 19.64% in July 2022, the highest rate since January 2017. The Conversation Africa asked economist Ndubisi Nwokoma about the spike, and what steps government can…

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Manchester Evening News

What was life like the last time inflation was this high in 1982?

Margaret Thatcher had been almost three years into her first term as prime minister

Edinburgh Live

Sainsbury's pint of milk breaks £1 threshold for first time as cost of living soars

The cost of living is soaring with shoppers in Sainsbury's noticing that a pint of milk in their smaller shops are in fact more expensive compared to their larger stores as inflation hits a 40-year high

WEKU

These are some of the ways inflation is changing Americans' spending habits

From Walmart to the neighborhood supermarket, retailers across the country are having to adjust as Americans watch their pennies in the face of high inflation.

The Guardian - UK

UK shoppers are keeping calm and carrying on. Why?

Consumers are in either denial about the economy or think they are managing … for now

The Hindu

Freebies come at a price: economist

RBI’s Monetary Policy Committee member Ashima Goyal says voters should be told about financing and trade-offs involved

The Guardian - UK

‘Explosion of violence’: Sierra Leone picks up the pieces after protests

At least 21 protesters and six officers have been killed as anger over the soaring cost of living spins out of control

The Independent UK

Russia's war at 6 months: A global economy in growing danger

It's almost six months since Russia invaded Ukraine, and the consequences are posing a devastating threat to the global economy

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