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The Latest Breaking News from Inflation

Tory minister on £115k salary says workers must accept ‘pay restraint’ to control inflation

‘High wage economy’ promise in doubt as chief secretary to the Treasury attacks pay demands

The Independent UK

Google-parent Alphabet's Profit Slips as Growth Slows

Google-parent Alphabet reported Tuesday its profit and revenue slipped as the internet giant's long sizzling ad revenue growth cooled, but the market seemed relieved the news wasn't worse. Big tech firms are grappling with multiple problems, from inflation to the war in Ukraine, and results in general for the quarter…

Asharq Al-Awsat

DWP confirms Universal Credit will rise from April next year

Universal Credit payments may increase to above the rate of inflation and earning, according to a DWP minister

Manchester Evening News

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McDonald’s set to hike price of 99p cheeseburger for first time in 14 years

Fast-food giant reveals menu items ‘impacted most by inflation’ will see price rise of between 10p and 20p

The Independent UK

McDonald's puts up prices as cheeseburger cost rises for first time in 14 years

The fast food chain says prices are going up due to high inflation and it will be adding between 10p and 20p to a number of items on its menu

Chronicle Live

Sales and profits up at biggest UK brick maker despite industry-wide inflation and supply chain challenges

Ibstock said recent sales remained encouraging and the business had mitigated energy price risks

Birmingham Post

Rahul Gandhi targets PM Modi on issue of price rise

"Why a cylinder for Rs 1053? Why GST on curd-cereals? Why Mustard Oil for Rs 200? The 'king' arrested 57 MPs and suspended 23 MPs for asking questions on inflation and unemployment," Gandhi said in a tweet in Hindi. Full story on Dynamite News:

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McDonald's hikes price of cheeseburger for first time in 14 years as inflation bites

The fast-food giant said it was having to make "tough choices" as the cost of everyday items continue to soar

Birmingham Post

McDonald's prices set to rise by up to 20p in first hike in 14 years

Most rises will kick in this summer

Nottingham Post

Global stocks, oil prices higher before likely US rate hike

Major global stock markets and Wall Street futures have advanced as traders brace for a possible sharp interest rate hike by the Federal Reserve to cool surging inflation

The Independent UK

UK workers stage nationwide train strike as inflation worsens

Wages have failed to keep pace with UK inflation, currently at a 40-year high and set to worsen.

Al Jazeera

Bill Ackman Explains Why Inflation, Not Fed Rate Hike, Is Biggest Threat To US Economy

Billionaire hedge fund manager and CEO of Pershing Square Holdings Ltd. (OTC: PSHZF) Bill Ackman explained through a series of tweets that the biggest risk to the U.S.

Benzinga

Commentary: California workers urgently need an $18 minimum wage. The Legislature should act this year

Californians may have gotten temporary relief recently when gas prices finally fell to about $6 a gallon this month, down from as high as $8 per gallon in June in Los Angeles County. Inflation has rocked the economy, with prices soaring 9.1% in June.

Los Angeles Times

Universal Credit benefits to rise for millions in April as inflation surges ahead

Each April, all benefit payments are increased - with a 3.1 per cent increase in place for the current financial year

Wales Online

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Insider UK

Lloyds profits fall as it sets aside £377m for loan defaults over living costs

Hal-year results also reveal that customers are ditching subscription services in the face of rising inflation

The Conversation

Inflation is being amplified by firms with market power

The upsurge in inflation has revived old debates about what causes it.

Wales Online

McDonald's puts up price of a cheeseburger for first time in 14 years

Company said the cost of a number of items will go up by between 10p and 20p

Axios

Vibes about inflation, economy depend on how much you're earning

Along with income and wealth inequality, there's also mood inequality.

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WEKU

Another big Fed rate hike is here to battle inflation. Economy hangs in balance

U.S. Federal Reserve raises rates for fourth time in 2022, this time by another three-quarters of a percentage point to battle inflation. It's at a size and pace we haven't seen since the 1980s.

ABC News

The Loop: Australia's inflation hits a 21-year high, the Ben Roberts-Smith trial comes to an end, and a man builds a Bluey ute

Get up to speed on today's headlines with The Loop.

Birmingham Post

Unite Students eyes growth despite cost of living crisis as profits soar

The UK’s biggest university accommodation provider said its business model would offer protection from inflation but it was “not immune” from rising costs and interest rates

The Independent UK

Lufthansa strike: More than 1,000 flights cancelled in Germany

Airline dismisses ground staff’s demands for above-inflation pay rise

Birmingham Post

Exclusive: 57 South West companies go bust as rising inflation hits business

The figure is down from the same period in 2021, but the region's retail and services sectors have seen a surge in insolvencies - and greater than across the rest of the UK

Daily Mirror

McDonald's hikes menu prices as burger costs go up for first time in 14 years

Fast food chain McDonald's said it will have to put its prices up due to soaring inflation, with some of its menu increasing in cost for the first time since 2008

Manchester Evening News

McDonald's will increase price of some menu items due to 'incredibly challenging times'

The cheeseburger will increase in price for the first time in 14 years

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