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The Latest Breaking News from Inflation

Pune: Nationalist Congress Party demands rollback of increase in power tariff

PUNE: NCP's city unit on Monday staged an agitation against inflation at Balgandharva Chowk and demanded rollback of the electricity tariff hike, announced recently by the state government.

The Times of India

Tax cut pledges by Tory leadership hopefuls ‘risk stoking inflation and inequality’

Economists and Conservative opponents say proposals would blow hole in public finances

The Guardian - UK

As Florida home values soar, calls grow to increase Citizens Insurance eligibility cap to $1 million statewide

Inflation is making thousands of Florida houses and condos ineligible for coverage by Citizens Property Insurance Corp., the state-owned “insurer of last resort.”

Tribune News Service

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Tory leadership: Rishi Sunak to pledge tax cuts – but only once inflation is reined in

Former chancellor moves towards his fellow candidates but insists cuts would have to be justified

The Independent UK

UK retailers hit by sharp drop in spending as inflation soars

Boost in demand in June on back of jubilee celebrations fails to prevent third successive fall

The Guardian - UK

Sunak vows to cut taxes – once inflation is beaten

The ex-chancellor launches his leadership campaign saying it is a matter of ‘when’ not ‘if’ the tax burden falls.

The Independent UK

BNPL Sezzle tanks 39 per cent, Wall Street lower ahead of economic data and earnings, while ASX edges higher

Australian shares edge higher after sharp losses in the previous session, powered by gains in financials and energy stocks.

ABC News

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Ex-finance minister Sunak vows to tackle inflation in pitch to be UK PM

Former finance minister Rishi Sunak will set out his stall to be Britain's next prime minister on Tuesday, vowing to tackle soaring inflation before joining his Conservative Party rivals in promising tax cuts.

Reuters

Sunak will vow to tackle inflation and then lower taxes if he becomes PM

Ex-chancellor to kick off his Tory leadership campaign as speculation grows over who could back him

The Guardian - UK

Costs, inflation put property demand at risk

The property market will continue to be challenged by inflation, higher development costs, and rising interest rates in the second half, which will take a toll on housing demand, says residential developer Frasers Property Home (Thailand).

Bangkok Post

For Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s

Federal Reserve chairman Jerome Powell is raising interest rates at the fastest pace since the 1980s. That has been easy so far because rates are low and the economy has been strong.

Bangkok Post

Sunak pledges to cut taxes – once inflation is under control

The ex-chancellor will say it is a matter of ‘when’ not ‘if’ taxes fall if he becomes PM.

The Independent UK

Democrats Wants New President Candidate In 2024: Here's Why They're Souring On Joe Biden (And It's Not Inflation)

A new poll shows that Americans may be seeking out a new president in the 2024 election. Here’s how President Joe Biden fared in the poll and what the key reason was people may want a change.

Benzinga

Scott Burns: The consumer price index tells us nothing useful about housing inflation

In a masterpiece of understatement, Jerome Powell, chairman of the Federal Reserve, recently said: “I would say if you’re a homebuyer, or a young person looking to buy a home, you need a bit of a reset.”

Tribune News Service

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The Guardian - AU

Five sticking points for central banks in the lead-up to the RBA inquiry

Rather than sound stewardship of the economy, the focus is now share markets, house prices and debt-driven illusory wealth

StockNews.com

2 Stocks That Make Great Investments During Times of High Inflation

Last month’s inflation is estimated to surpass record levels in May 2022, prompting the Fed to continue with its rate hikes. However, quality financial stocks Ally Financial (ALLY) and Bank of America (BAC) could be ideal investments to navigate such times of high inflation. Keep reading….

The Independent UK

Fed's Bullard: Solid US economy can handle rising rates

St. Louis Federal Reserve president James Bullard says last week’s jobs report points to a solid U.S. economy with little sign of a recession on the horizon and one that can withstand higher interest rates

StockNews.com

2 Stocks Trading Below $5. Should Investors Buy or Sell?

While a strong job report for June has eased recession fears, declining consumer spending is concerning. Moreover, the robust job report might turn the Fed toward a more aggressive approach to tame inflation and deliver a large interest rate hike. Amid the uncertainties ahead, should you Buy or Sell penny…

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Evening Standard

Klarna wipes off 85% of value in latest funding round

The value of Swedish Buy Now, Pay Later business Klarna has plummeted 85% from its 2021 peak after a fresh funding round, in the latest sign of dwindling fortunes for short-term lenders amid rising inflation and fears of a looming recession.

The Independent UK

Zahawi pledges more tax cuts despite warning Tory hopefuls risk fuelling inflation

Lord Lamont criticised Conservative leadership candidates

France 24

Struck by an inflation crisis, Argentinians seek any means necessary to stay afloat

Rising inflation worldwide has made nearly everything more expensive - from energy to essential consumer goods. One country hit the hardest by rising prices is Argentina - inflation hit 51% at the end of 2021 and is expected to top 70% by the end of this year. Our correspondents Eléonore…

The Times of India

Petrol price hike, raising power tariffs: What Pakistan needs to do to obtain IMF loan

NEW DELHI: The economic crisis in Pakistan has posed severe challenges for the government as it grapples with high inflation, sliding forex reserves, a widening current account deficit and a depreciating currency.

Reuters

Analysis-Tax-cut talk in UK leadership race adds to inflation angst

Promises of tax cuts from candidates to succeed British Prime Minister Boris Johnson pose another inflationary risk which could pressure the Bank of England to raise interest rates more aggressively, cancelling out any potential boost to the economy.

StockNews.com

3 Downgraded Stocks Investors Will Want to Sell Short

The stock market has been experiencing massive volatility due to rising concerns over surging inflation and the Fed’s constant efforts to fight it by raising the interest rates aggressively. Amid the ongoing market turbulence, investors might want to short-sell fundamentally weak stocks Robinhood Markets, Inc. (HOOD), Frontier Group (ULCC), and…

Insider UK

Private sector output in Scotland rises at slowest rate for five months as cost of living crisis bites

RBS PMI data shows new orders also rose at weakest rate in 15 months

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