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The Latest Breaking News from Inflation

More than 100 Post Offices closed today as 2,000 workers strike over 'insulting' pay

Post Office workers at 114 branches have started a 24-hour strike today, in a dispute over an “exceptionally poor” pay rise. It comes as the UK rate of inflation hit a new 30-year high of 7%

Daily Mirror

Asda boss issues statement to shoppers as food costs continue to soar

Lord Rose said the government needs to do more to help consumers.

Daily Record

Over 16,000 Welsh firms in significant financial distress under rising inflation

Nearly a third of these businesses were in Cardiff and Swansea

Birmingham Post

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Boris Johnson brags about free bus passes after hearing tragic case of pensioner

BORIS Johnson has bragged about introducing free bus passes for pensioners after being told that an elderly woman is forced to spend all day on…

The National (Scotland)

Labor says rate rise highlights PM’s shredded credentials but Morrison insists it’s part of pandemic journey

Scott Morrison says Reserve Bank has ‘made a very important statement about where we are now in our journey out of this pandemic’

The Guardian - AU

Boris Johnson boasts about free bus passes when told OAP rides them all day to keep warm

Prime Minister Boris Johnson was put under pressure over the cost of living crisis by ITV's Susannah Reid as she asked questions on behalf of viewer Elsie

Daily Mirror

4 things to know as the Fed embarks on its biggest fight against inflation in years

The Federal Reserve is expected to approve its largest interest rate hike in more than two decades this week. Additional rate increases are likely, as the Fed tries to regain control over inflation.

WEKU

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Johnson acknowledges ‘more that we can do’ to tackle cost-of-living crisis

Prime Minister Boris Johnson warned about the danger of fuelling an inflationary spiral if Government intervention was not carefully controlled.

The Independent UK

Revealed: The number of profit warnings issued by listed companies in the Midlands and how they compare

There are warnings that inflation could peak at 9 per cent or even hit double digits in the autumn

Birmingham Post

McColl’s suspends shares as rescue talks delay results

The convenience chain store is desperately trying to avoid collapse as supply chain issues, inflation and high debt weigh on the business

Evening Standard

RBA Governor Philip Lowe is hiking interest rates. Worst case, it'll mean an extra $600 per month on a $500,000 mortgage

Reserve Bank Governor Philip Lowe has announced he will lift the cash rate for the first time in a decade, by 0.25 percentage points, taking it from 0.10% to 0.35%.

The Conversation

Global problems may exacerbate shortages in N.Korea's isolated economy

North Korea's isolated economy will not be insulated from global economic headwinds caused by the Ukraine war and the COVID-19 lockdowns in China, analysts said, with recently resumed border trade taking a hit and inflation exacerbating food shortages.

Reuters

Boris Johnson admits he's NOT doing enough to help struggling in Cost of Living crisis

Prime Minister Boris Johnson, who faces accusations he misled MPs over Partygate, also claimed he was an "honest" politician

Daily Mirror

Editorial: Stolen election claims undermine Biden successes

President Joe Biden deserves better grades than he’s getting from public opinion polls.

Tribune News Service

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Los Angeles Times

George Skelton: It's time to stop spinning our wheels on gas price relief and head in a different direction

SACRAMENTO, Calif. — California Gov. Gavin Newsom and state legislators have been spinning their wheels for months on gas price relief. They should get the vehicle moving or abandon it.

The Guardian - AU

Paying off a mortgage? Here’s how the RBA interest rate rise will affect your repayments

Rise to 0.35% increases median monthly home loan repayment by up to $118, but rates predicted to reach 2% in a year’s time

Manchester Evening News

How the Bank of England base rate rise will affect you as inflation predicted to rise to highest level

Will the Bank of England rate change affect you?

Wales Online

Supermarket chief warns of more price hike pain for shoppers with 'no quick fix'

Asda chairman Lord Stuart Rose has called for more government intervention to ease the pressure on consumers' shopping bills

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ABC News

Prime Minister Scott Morrison says Australians ready for rate increase, as Labor warns nation faces cost-of-living crisis

The Prime Minister says households are prepared to deal with the first increase to interest rates in more than a decade, but Labor says his government is not doing enough to ease cost-of-living pressures.

Pedestrian.tv

Interest Rates Just Rose So What Does This Mean For Your Money, Rent & ‘Ability’ To Buy A Home?

The interest rate in Australia just rose for the first time in a decade. What does this mean for cost of living, rent and first home buyers?

The Conversation

Why the RBA should go easy on interest rate hikes: inflation may already be retreating and going too hard risks a recession

One of the stranger things about the Reserve Bank’s announcement of why it’s lifting interest rates by 0.25 percentage points is that it suggests inflation will come down by itself.

Al Jazeera

Australia hikes interest rates in potential election shakeup

Reserve Bank of Australia’s move means millions of Australians face higher repayments on their home loans.

Belfast Live

Unite strike: Further disruption to council services expected in parts of NI this week

Unite members are striking after rejecting a 1.75% pay increase amid soaring inflation

Insider UK

Train drivers could strike for first time in 20 years amid cost-of-living fears

Meanwhile, Post Office workers stage national strike over pay today

The Guardian - UK

‘I can’t see it getting any better’: could the UK be heading for a recession?

Small business owners are already being hit as consumers cut back on non-essentials

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