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The Latest Breaking News from Inflation

Early pay rises for thousands of hospitality staff

Thousands of low-paid workers will get their $40 a week wage increase months early, after a decision by one of Australia's biggest employers.

The New Daily

From New Zealand to Nigeria: the global toll of the cost of living crisis

Unsparing inflation across basics from food and energy to housing is pushing millions into poverty, as our correspondents report

The Guardian - UK

Rail strikes: Teachers and nurses may join train workers in next stage of walkouts

Union bosses have warned of potential chaos this week on top of the pandemonium already expected in light of the railways shutting down for three days this week

Daily Mirror

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Investigating the crypto crash

The value of cryptocurrencies has plunged over recent days, with Bitcoin -- the largest coin by market cap -- sinking to its lowest point since 2020.

Bangkok Post

Food crisis to hit nations in second half

A global food shortage is expected to intensify during the third and fourth quarters this year, with the scarcity likely to benefit Thai food exporters, says the Federation of Thai Industries (FTI).

Bangkok Post

Worst is yet to come for food price rises, warns ex-Sainsbury’s boss

The former CEO of Sainsbury’s has said “the worst is yet to come” for food prices amid fears that “double digit” inflation could last longer than a year.

Evening Standard

Giving up insurance, choosing meat-free meals and skipping breakfast: What Australians are doing to survive the cost-of-living crisis

The multi-pronged cost of living crisis has spared few Australians from increased financial stress. In response, cash-strapped households have been forced to find new ways to cut back spending.

ABC News

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Yellen says high inflation locked in for the rest of 2022

WASHINGTON — Treasury Secretary Janet Yellen said that “unacceptably high” prices are likely to stick with consumers through 2022, and that the U.S. economy is likely to slow down.

Tribune News Service

Let’s hear it for the silent generation

Brief letters: Not-so-silent seniors | Second homes | PM in Ukraine | Johnson’s ethics | Inflation conundrum

The Guardian - UK

Yellen says US recession not ‘inevitable’ but expects ‘economy to slow’

Treasury secretary says ‘inflation unacceptably high’ and it is Biden’s ‘top priority to bring it down’

The Guardian - US

Yellen: Recession not inevitable, gas tax holiday weighed

Treasury Secretary Janet Yellen says she expects the U.S. economy to slow in the months ahead, but that a recession is not inevitable

The Independent UK

TS tops in inflation rate in May

HYDERABAD

The Hindu

UK government needs long-term plan for higher wages, not a fight with workers

While Boris Johnson plays politics, Britain’s public sector is fraying at the seams

The Guardian - UK

Inflation taking bite out of new infrastructure projects

Inflation is taking a toll on infrastructure projects across the U.S. Rising prices for materials such as asphalt, steel and iron pipes are driving up the costs to build roads, bridges, rail lines and water mains

The Independent UK

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Wales Online

Families will need to find an extra £750 for food as inflation to last a year

One analysis says rising costs could go on longer than 12 months thanks to the war, the weather and Brexit

The Independent UK

UK ‘leaderless but not powerless’ says former PM Gordon Brown

Speaking to BBC’s Sunday Morning, Mr Brown said rising inflation is a ‘global problem’ that needs ‘global solutions’.

The Guardian - US

Inflation is hitting LGBTQ+ Americans harder – smart employers can help

Almost two-thirds of LGBTQ+ people are living paycheck to paycheck and many say they face ‘unique’ challenges

The Independent UK

Gordon Brown says government lurching from ‘crisis to crisis’ and predicts corporation tax hike scrap

Former PM issues warning over danger of ‘global recession’

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The Guardian - UK

Strikes, inflation, slump... back to the 70s? More like the unwinding of Thatcherism

The current economic crisis might finally usher in a more equitable social model

The Independent UK

Cost of living crisis 2022: How to cope with the rise in prices

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all

The Independent UK

Teaching and NHS unions warn of strike action unless government improves pay offers

General sectretary of teaching union says it ‘cannot avoid ballot’ without significant pay increase

ABC News

Inflation pressures push Gold Coast business owners to raise prices

Inflation and the rising cost of living cause chaos for business owners and customers as coffee and vegies become the latest budget-breaking items.

AAP

RBA's Lowe to expand on outlook views

Reserve Bank governor Philip Lowe will address a conference on Tuesday on Australia's economic outlook and monetary policy.

The Guardian - UK

Crypto panic as digital assets follow share prices in a downward spiral

In the past week bitcoin has fallen 34% and Celsius has put a hold on withdrawals. Some fear the turmoil is far from over

The Independent UK

Thousands march in London to demand action over cost of living crisis

‘Don’t you dare shift the blame for inflation on to working people,’ TUC chief warns Boris Johnson

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