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The Latest Breaking News from Inflation

Senate’s Medicare drug pricing may ripple into private market

Congress is on the verge of passing historic drug pricing legislation that would allow the government to restrict prices for drugs covered by Medicare, but experts disagree on whether drugmakers will shift those costs to the private market.

Tribune News Service

Fed's Kashkari says he’s staked out the most aggressive stance on lifting interest rates

Neel Kashkari welcomed the first better-than-expected inflation report in many months on Wednesday, but said it did not change his view on the need for more aggressive interest rate hikes even if it means triggering a recession.

Tribune News Service

Telstra profit falls but dividend rises, ASX surges after US inflation cools

Telstra sees a drop in annual profit, but increases dividend for the first time in seven years. The ASX and Wall Street rally as cooling inflation eases interest rate hike fears, and the Australian dollar surges to 71 US cents as the greenback declines.

ABC News

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EXPLAINER: Mixed US inflation signs. Where are prices going?

Consumers struggling with skyrocketing prices for food, gas, autos and rent got a tantalizing hint of relief last month, when prices didn’t budge at all from June after 25 straight months of increases

The Independent UK

4 "Strong Buy" Stocks for a Fear-Driven Market

Even though the inflation declined slightly from the 40-year high in July, it stayed elevated. Therefore, the Fed could maintain its hawkish stance on tightening monetary policy, which will drive market volatility. Amid this fear-driven market, we think it could be prudent to invest in fundamentally sound stocks AbbVie (ABBV),…

StockNews.com

Ethereum Surges Amid Market Strength, Signs Of Waning Inflation: Why It May Be Heading Even Higher

Ethereum (CRYPTO: ETH) was surging over 8% higher on Wednesday, propelled by a positive market-wide reaction to the latest consumer price index data that showed inflation inc

Benzinga

3 Penny Stocks to Buy Now at a Massive Discount

Strong job market and a slight decline in July inflation reading have raised investor optimism in the market. However, inflation still remains elevated, and the positive economic data might encourage the Fed to consider aggressive rate hikes. Since these factors are expected to keep the market volatile, it could be…

StockNews.com

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Is global inflation nearing a peak?

New US data suggests that the worst of inflation may be over after a tough year of price increases.

Al Jazeera

Nasdaq Surges Over 300 Points; Trade Desk Shares Spike Higher

U.S. stocks traded higher toward the end of trading, following the release of inflation data.

Benzinga

We must tax profits now, freeze energy prices – and if necessary bring suppliers into the public sector

Without urgent action, families are seeing nothing more than pain now and pain later. There is a way through, says former prime minister Gordon Brown

The Guardian - UK

Plug Power To Get A Big Boost From Inflation Reduction Act And $40B+ Microsoft Opportunity, Say Bullish Analysts

Analysts are sizing up the second quarter financial results from Plug Power Inc (NASDAQ: PLUG) and the opportunity the company could ha

Benzinga

2 Momentum Stocks Crushing the Bear Market

Valero Energy (VLO) and Shell (SHEL) have maintained strong momentum amid the highly uncertain market conditions. With recession fears expected to keep the market under pressure in the near term, it could be wise to buy these stocks now to benefit from their momentum, which might continue for some time…

StockNews.com

Balloon Fiesta 2022: Timings, line-up and all you need to know

Here's everything you need to know about this year's event

Bristol Post

Chances Of Another 0.75% Interest Rate Hike Plummet Following Soft CPI Inflation Reading

The U.S. Federal Reserve raised its target Fed funds rate by 0.75% in June and July in an attempt to get inflation under control. Investors wondering if the Fed will pull the trigger on a third 0.75% hike at its next meeting in September got some key inflation data on Wednesday…

Benzinga

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Chicago Sun-Times

City’s budget forecast includes $42.7 million increase in property taxes

The proposed increase would cost the owner of a home valued at $250,000 just $34 more a year, Mayor Lori Lightfoot said, “about the price of an Al’s Italian beef — hot, dipped, with extra cheese — for a family of four.”

Roll Call

Senate's Medicare drug pricing may ripple into private market - Roll Call

Congress is on the verge of allowing the government to restrict prices for drugs covered by Medicare, but experts disagree on whether drugmakers will shift costs to the private market.

The Independent UK

AP FACT CHECK: GOP skews budget bill’s impact on IRS, taxes

Republican politicians and candidates are distorting how a major economic bill working its way through Congress would overhaul the IRS and affect taxes for the middle class

Reason

Tumbling Gas Prices Caused Inflation To Fall to 8.5 Percent in July

Prices for food and housing continued to rise but were offset by lower gas and energy prices.

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The Guardian - US

Is inflation finally on the decline in the US? It’s complicated

Economists say inflation possibly hit its peak, and there are signs the pressures behind it are easing – but it’s hard to say what’s next

StockNews.com

1 Cruise Ship Stock Taking on Water Right Now

The skyrocketing inflation, rising borrowing costs, and recession fears are restricting cruise operators’ return to pre-pandemic levels. Amid this backdrop, the leisure travel company Carnival Corporation (CCL) is down more than 50% this year and might be best avoided now. Read on….

Los Angeles Times

Inflation slows a bit in July. Has it finally peaked?

WASHINGTON — After months of steadily climbing to a 40-year high, the pace of inflation slowed notably in July as gas prices fell sharply and Americans got some relief on the cost of clothing, cars and other necessities.

Tribune News Service

Fact check: Will 87,000 new IRS agents mean more audits for middle-class families and small businesses?

The Schumer-Manchin tax bill passed the Senate as part of the Inflation Reduction Act on Sunday. According to legislative documents, the bill will raise taxes and boost the IRS by an estimated $80 billion.

Axios

Inflation drops to zero in July due to falling gas prices

Falling gasoline prices are clearly giving American consumers some inflation relief.

The Independent UK

US Inflation rate dips to 8.5 per cent in the past year, down from 40-year high

Comes as Senate Democrats pass their ‘Inflation Reduction Act’

The Guardian - UK

Workers block road at Ineos Grangemouth oil refinery in pay dispute

Unofficial strikes held at several industrial sites across UK amid inflation and cost of living crisis

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