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The Latest Breaking News from Inflation

Inflation overtakes wages as fuel, food costs soar

Australian wages have not kept pace with inflation.

The Canberra Times

Morrison says his ‘bulldozer’ approach has served Australia well

Scott Morrison says being a “bulldozer” has served Australia well during the pandemic – despite the country's surging pandemic death rate.

The New Daily

Retail sector faces ‘bumpy road’ amid cost-of-living crisis

Recovery in high street shopping tempered by rising pressures on consumer spending

Insider UK

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Home Depot revenues up in strong start to year

Home Depot had sales of $38.9 billion during the first quarter of its fiscal year, powering through inflation with a continued surge of demand from consumers who want to buff up their homes, the company reported Tuesday.

Tribune News Service

Powell says Fed will ‘keep pushing’ until inflation comes down

Federal Reserve Chair Jerome Powell, in his most hawkish remarks to date, said the US central bank will raise interest rates until there is “clear and convincing” evidence that inflation is in retreat.

Tribune News Service

Cost of living crisis: Labour set to force Commons vote calling for emergency budget

Party will seek to put pressure on Tory MPs as cost of living crisis bites

The Independent UK

Private sector applauds decreasing excise levy

The business sector has welcomed the government's latest decision to cut the diesel excise tax by 5 baht per litre for two months, claiming if diesel prices were left unharnessed, it would add to people's hardships and negatively affect the country's exports.

Bangkok Post

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2 Enterprise Software Stocks to Scoop Up in the Sell-Off

Investors' concerns over multi-decade-high inflation, the Federal Reserve’s interest rate hikes, and disappointing earnings by tech giants have caused a massive tech sell-off. However, given the enterprise software industry's solid growth prospects, we think it could be wise to scoop up shares of enterprise software companies Workday (WDAY) and Veeva…

StockNews.com

For businesses in Manhattan's Chinatown, inflation is a tough economic hurdle

Many businesses have relied on high sales volume to make a profit, but higher costs for wholesale goods and dwindling inventory because of supply chain disruptions are forcing them to raise prices.

WEKU

One in four drivers struggle to afford their car amid cost of living crisis

Motorists have admitted they are struggling with the cost of running a car with over half of people aged 25-34 now saying they don't earn enough as fuel prices rise.

Edinburgh Live

Cost of living outpacing wages as salaries fall by biggest amount in a decade

Real terms regular pay fell by nearly two per cent in March alone

Bristol Post

Rishi Sunak faces Tory clamour to act now on cost of living crisis

Conservative MPs to urge chancellor to tackle inflation with VAT cuts, energy bill support and improved benefits

The Guardian - UK

Slovak finance minister sets up battle with proposed tax on Russian oil processing

Slovak Finance Minister Igor Matovic said on Tuesday he would propose a special tax on Russian crude processed in the country, clashing with a government coalition partner as he seeks to raise budget revenue for the state's anti-inflation measures.

Reuters

Will a 5 per cent pay rise for workers lift the cost of your coffee and petrol by the same amount?

Boosting workers' wages by 5 per cent – for all workers, not just those on the minimum wage — would lead to an increase in prices across the economy of about 2 per cent, according to a new report.

ABC News

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The Conversation

Are real wages falling? Here's the evidence

You would be forgiven for being unsure about whether the buying power of wages was rising or falling. On one hand, Opposition Leader Anthony Albanese says wages are going backwards.

The Times of India

WPI inflation at 9-year high of 15.1%, 13th month of double-digit rise

NEW DELHI: Wholesale price index (WPI) based inflation jumped to a new high of 15.1% in April on the back of soaring commodity, food and fuel prices, posing a major challenge for authorities already battling surging prices fuelled by the Ukraine war and breakdown in global supply chains due to…

The Independent UK

Powell: Fed to keep hiking rates until it controls inflation

Chair Jerome Powell underscored the Federal Reserve’s determination to keep raising interest rates until it has brought inflation under control — a high-stakes effort that carries the risk of causing an eventual recession

Liverpool Echo

Schools may be forced to reduce lunch portion sizes for lunches due to rising food prices

A food wholesaler has warned that smaller, cheaper meals may be inevitable for the country's schools

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The Hindu

Bigger bills for biryani fans, low profit for eateries

Skyrocketing input costs push up the price of iconic Hyderabadi dish

The Hindu

Food portions shrink as inflation bites

Higher prices, at times with smaller portions, greet consumers as food businesses struggle with high operational costs

StockNews.com

Looking to Bottom Fish? 5 Stocks Down 32% - 42% to Buy Now

Concerns over geopolitical tensions, sky-high inflation, and a potential recession due to the Fed’s hawkish stance have driven the stock market to a significant sell-off of late. However, the recent market correction could be a good opportunity for investors to scoop up the stocks of fundamentally sound companies NICE (NICE),…

AAP

Rates, inflation to take edge off growth

New data suggests the sharp rise in inflation and an expected rapid rise in interest rates will take the edge off Australia's economic expansion.

Manchester Evening News

Parents warned school meal sizes may get smaller due to cost of living crisis

Schools might be forced to shrink children's portion sizes or use cheaper ingredients

Chronicle Live

M&S boss warns shoppers over 'apocalyptic' rising cost of food

The Governor of the Bank of England, Andrew Bailey, described soaring living costs as "apocalyptic"

Newsroom.co.nz

How Australia's election battle will affect NZ

Prime ministerial candidates borrow from NZ policy – but major trans-Tasman change is unlikely.

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