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The Latest Breaking News from Inflation

‘Serious financial stress’: Typical mortgage bills tipped to jump $792 by year’s end

Home owners are being warned to brace for their third interest rate hike in as many months on Tuesday as the Reserve Bank fights surging inflation.

The New Daily

The Standard View: London reels from the body blow of inflation

Inflation affects everyone, everywhere, but it hurts some of us more than others. And the bleak truth is that the less well-off and Londoners are affected more than most. The worrying finding of our Ipsos poll is that millions of people would find it “very difficult” to cope with inflation…

Evening Standard

Struggle to cope for millions as the big squeeze tightens

Exclusive poll reveals extent of cost-of-living crisis

Evening Standard

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As we head back to the striking Seventies, blame inflation not the unions

“Although the Seventies remains a salutary lesson in what can happen, we should not talk ourselves into believing we are inevitably heading for a repeat performance.” So argued Jon Cunliffe, Deputy Governor of the Bank of England, back in April. I wonder if he’s having second thoughts. The number of…

Evening Standard

Can we avoid a recession? What we can learn from the Kiwis

New Zealand property prices have fallen every month this year following a series of punishing interest rate hikes that began last October. So far, the hikes have yet to dent inflation.

ABC News

Retirement on hold for UK’s over-60s as cost of living crisis bites

Many older people are now finding they cannot afford to meet basic outgoings. So retirement dates are being scrapped

The Guardian - UK

EasyJet operations chief quits; petrol hits new high; Suez Canal’s record revenues – as it happened

EasyJet’s chief operating officer Peter Bellew resigns amid growing anger over flight disruption

The Guardian - UK

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Turkish Inflation Seen Above 78% in June, Just Below 70% at End-2022

Turkey's inflation is expected to rise above 78% in June and it was seen declining to just below 70% by end-2022, a Reuters poll showed on Tuesday, as pricing behavior deteriorates across the board due to a weak currency and a loose monetary policy. Inflation has surged since last autumn,…

Asharq Al-Awsat

Asian shares mixed, oil steady ahead of July 4 holiday in US

Shares are mixed in Asia while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in Tokyo, Shanghai and Sydney but fell in Hong Kong and Seoul

The Independent UK

Fewer pubs in England and Wales than ever before

Analysis shows the total number of hostelries is now 7,000 less than a decade ago, with the pandemic being followed by soaring inflation, energy costs and the cost of living

Wales Online

Missed meals and constant stress: New Zealand’s cost-of-living crisis hits home

Study finds food insecurity causing ‘significant and enduring hardship’ as costs outstrip income for some sole parents

The Guardian - AU

Pubs in crisis as 7,000 call last orders in England and Wales in just 10 years

The hospitality sector, which tackled huge challenges during the pandemic, is now facing record-high inflation and an energy crisis

Daily Mirror

Senate Democrat urges Biden to repeal tariffs to fight inflation

WASHINGTON — A Senate Democrat called on President Joe Biden to repeal tariffs put in place by the Trump administration, saying they haven’t significantly changed China’s trade practices and are contributing to high prices for Americans.

Tribune News Service

McDonald's Dollar Drinks Deal Fades in the Face of Inflation

Inflation is coming for McDonald's dollar drinks.

Bangkok Post

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The Hindu

Dogged by inflation: On Price rise and policy measures

Policymakers must focus on easing price pressures so as not to derail recovery

Dublin Live

Recession Ireland: Majority of public believe we are heading for recession - poll

Almost four out of five people think the economy is heading for a slump

Chronicle Live

This week's change is the ‘single biggest tax cut in a decade’ Johnson and Sunak say

National Insurance threshold rise will save 30 million British workers up to £330 a year, PM and Chancellor pen in joint article

The Independent UK

Parents dipping into children’s savings to pay soaring bills, poll finds

Britons are lifting around £8.5m a day from their children as costs continue to soar, survey found

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Daily Mirror

Boris Johnson's 40 'new' hospitals election boast to be probed by audit watchdog

The National Audit Office will carry out a 'value for money' review that reports back next year on spiralling inflation - and whether the 40 projects are really 'new' at all

The Guardian - US

‘How are we supposed to live?’: fast-food workers squeezed by inflation

Workers at big chains struggle to make ends meet as prices increase but their wages have not

Wales Online

‘Single biggest tax cut in a decade’ announced by Boris Johnson and Rishi Sunak

National Insurance threshold rise will save 30 million British workers up to £330 a year, say Johnson and Sunak

The Independent UK

PM and Chancellor unified in announcing ‘single biggest tax cut in a decade’

The pair said the tax cut will amount to £6 billion in value and lift ‘2.2 million people out of paying any National Insurance or income tax’.

WEKU

The case of the incredible shrinking fritter: A report from Kenya's street stalls

Inflation — fueled by the pandemic, the war in Ukraine and local issues — has made everything more expensive, including the oil used to fry street food. Here's how vendors and customers are coping.

Tribune News Service

Argentina Economy Minister Guzman resigns as divisions grow

Argentine Economy Minister Martin Guzman resigned Saturday, marking the biggest departure of President Alberto Fernandez’s government after infighting within the ruling coalition escalated.

The Independent UK

‘1.2m’ pensioners dragged into paying income tax since Boris Johnson elected in 2019

Over-65s warned the taxman will take his ‘chunk’ of state benefit

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