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The Latest Breaking News from Inflation

Boris Johnson pits rail strike workers against public and says Brits can't have pay rise

The rail strike was the top of the agenda in Boris Johnson's Cabinet meeting as he said workers were “aggravating” the nation’s teenagers, workers and pensioners - and rebuffed calls for a proper pay rise this year, leading to fears of a Summer of Discontent

Daily Mirror

Inflation set to draw extra 35,000 families into benefit cap, charity warns

Benefit cap costs average household £50 a week

The Independent UK

Bank of Thailand asked to ease impact of any rate hike: Arkhom

The finance minister said on Tuesday he had asked the central bank to minimise the impact of any interest rate hike, ensure enough liquidity in the banking system and maintain a stable baht currency.

Bangkok Post

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Shoppers face £380 jump in grocery bills this year as inflation surges

Grocery costs up 8.3%, sending average annual bill up by £100 since April alone

The Independent UK

Why rail workers are on strike and what the RMT has been offered to settle dispute

The dispute is about pay, jobs and conditions, including a row over a below-inflation pay increase, safety and redundancies

Chronicle Live

Iceland reduces price of bread, fruit and butter to 1p

The supermarket’s offer comes as grocery inflation hits 13-year high

The Independent UK

Shoppers’ annual grocery bills ‘to rise by £380’

Kantar data has revealed that grocery price inflation jumped to 8. per cent over the four weeks to 12 June

The Independent UK

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Shoppers annual grocery bills set to rise by £380 as inflation hits 13-year high

Grocery price inflation jumped to 8.3% over the four weeks to June 12 - up from 7% in May

Daily Record

Average UK food bill rises by £380 a year as grocery inflation hits 13-year high

Shoppers turn to own-label goods as discounters Aldi and Lidl benefit from living costs crunch

The Guardian - UK

UK manufacturing growth slows; Kellogg to split in three; Elon Musk’s US recession warning – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Brits warned of huge £380 jump in grocery bills

Food inflation hits a new high

Wales Online

Biggest rail strike in 30 years brings UK to standstill

Britain's biggest rail strike in 30 years kicked off on Tuesday as tens of thousands of staff walked out in a dispute over pay and jobs that could pave the way for widespread industrial action across the economy in the coming months.

Reuters

No Biden move on Chinese tariffs likely before G7 meeting -sources

U.S. President Joe Biden is considering scrapping tariffs on a range of Chinese goods to curb inflation, but no decision is likely before next week's Group of Seven summit, people familiar with the matter said.

Reuters

High inflation to persist for ‘some years’, warns Reserve Bank boss

The governor of the Reserve Bank has warned high inflation is likely to persist for years to come as the global economy works through major supply issues.

The New Daily

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Daily Record

The RMT cannot be blamed for covid pandemic and its impact on public finances

Record View says it's the UK Government that's to blame for the abysmal covid response, shambolic Brexit deal and who cannot control inflation.

Daily Mirror

Tories 'want to cut pay limits for city bosses but ALSO restrain public worker pay'

The Government is being accused of "hypocrisy" as leaked plans show it wants to remove some controls over City bosses' pay will restraining the wages of people in the public sector

ABC News

Reserve Bank governor says inflation is rising, but he doesn't see a recession on the horizon

The RBA admits it suffered "reputational damage" when it tried to wind back its COVID-19 pandemic stimulus program.

AAP

RBA warns of damage from rising inflation

Reserve Bank governor Philip Lowe has warned of the damage inflation can inflict on the economy and why it needs to be brought under control.

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Insider UK

Number of sectors reporting falling output doubles amid slowing demand

Eight sectors continue to see output growth, though this was down from 11 in April

StockNews.com

Investors: Please AVOID Cash During This Bear Market

When most people hear the sirens of the bear market they run for cover in cash. But is that the smartest idea when inflation is over 8% and your cash accounts still pay virtually nothing? (That was a rhetorical question). Gladly there is a better way to carve out profits…

Salon

Farmer's markets: Is inflation the end?

Greenmarkets are seeing red

ABC News

Worried about the cost of living? This is the impact inflation is having in some of the world's most expensive cities

Australia isn't the only country seeing everyday foods like iceberg lettuce go from basic to bougie. This is what life looks like for people in some of the world's most expensive cities as inflation surges.

Al Jazeera

Zimbabwe healthcare workers strike over wages, inflation crisis

Public health workers and other civil servants are demanding salaries in US dollars as inflation hits 132 percent.

The Guardian - UK

Bank policymaker calls for faster rate rises to prevent weak pound fuelling inflation

Catherine Mann says Bank of England’s MPC is in danger of falling behind rival central banks

Asharq Al-Awsat

Europe May Shift Back to Coal as Russia Turns Down Gas Flows

Europe's biggest Russian gas buyers raced to find alternative fuel supplies on Monday and could burn more coal to cope with reduced gas flows from Russia that threaten an energy crisis in winter if stores are not refilled. Germany, Italy, Austria and the Netherlands have all signaled that coal-fired power…

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