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The Latest Breaking News from Inflation

Yesterdaze: The lesser of two worse options

'State-sponsored cruelty' or the 'least worst option'? Not a great week for the Government as the MIQ lottery system is found to be unjustified in a hefty High Court decision.

Newsroom.co.nz

Clive Palmer's promise to cap mortgage rates at 3% would make it much harder to get a home loan

Clive Palmer’s United Australia Party continues to make waves in the federal election campaign, most recently with advertisements on massive billboards pledging a “maximum 3% interest rate on all home loans for five years”. But does this promise stack up?

The Conversation

Inflation spike may tilt odds in favour of early rate hikes

Retail inflation is poised to accelerate from a 13-year high with the government lifting a freeze on some retail fuel prices, boosting the odds for the Bank of Thailand (BoT) to pivot away from its pandemic-era monetary policy accommodation.

Bangkok Post

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Mars helicopter beams back pictures of Perseverance landing gear en route to Jezero Crater

Taking a brief detour from its route to a crater that scientists hope is teeming with evidence of ancient life, the Mars helicopter snaps unprecedented pictures of its landing gear after its fiery descent.

ABC News

At S.Korea's fried chicken diners, palm oil squeeze feeds inflation fears

Mr Lee's diner, a cheap-and-cheerful fried chicken shop near central Seoul, has held firm against raising prices for a decade and a half.

Reuters

Musk and Twitter, inflation woes, and a palm oil crisis

We gather the numbers from the week’s biggest economic and business news stories so you can impress your friends.

Al Jazeera

Biden admin split over Trump-era China tariffs as inflation looms

Biden officials are fiercely debating whether to lower some of former President Trump’s China tariffs.

Axios

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Amazon falls, projects slower growth as online sales stall

Amazon.com Inc. projected sluggish second-quarter sales growth, as consumers reduce their online spending amid rising inflation and a return to pre-pandemic activities. The shares plunged about 10% in extended trading.

Tribune News Service

Business confidence up in Scotland despite rising inflation and costs

The Bank of Scotland monthly business barometer has risen 11 points in April to 28%.

The Independent UK

Why are obsessed with parallel universes?

With the release of ‘Everything, Everywhere All at Once’, a kung-fu film set across many universes, Dennis Overbye looks at why the multiverse is such an enduring sci-fi trope

The Independent UK

Yes, US economy may be slowing, but don't forget it's coming off the hottest year since 1984 – here's who benefited in 4 charts

The U.S. economy unexpectedly shrank in the first quarter, according to gross domestic product data released on April 28, 2022. While the reasons were technical and weren’t seen as signs of weakness, they add to worries that the U.S. might be headed for another recession as the Federal Reserve seeks…

The Conversation

Morning mail: Labor message on Morrison resonates with voters, Kyiv hit by strikes amid UN visit, best food photography

Friday: A new poll shows which party’s slogans are cutting through to the public, with Labor coming out on top. Plus: Get set for more wet weather

The Guardian - UK

Labor says inflation figures show need for childcare policy

Labor says its childcare policy will ease costs for almost 30,000 Hunter families after inflation figures this week showed a 4.2 per cent annual price rise in the sector.

Newcastle Herald

Confidence in Scottish business rose 11 points in April

BUSINESS confidence in Scotland has risen 11 points in April to 28, despite increasing inflation and costs, according to a new report.

The National (Scotland)

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The Independent UK

Drop in US GDP challenges Biden's pitch to voters

The latest report on gross domestic product is complicating President Joe Biden’s pitch that the U.S. economy is strong

Benzinga

Smith & Nephew Posts Q1 Sales Growth As Elective Procedures Rebound

Smith & Nephew PLC (NYSE:SNN) posted Q1 revenue of $1.31 billion, up 3.3% on a reported basis (including -2.6% currency effect) and up 5.9% on an underlying basis. Sports Medicine & ENT revenue up 8.6% underlying. Advanced Wound Management revenue up 8.0% underlying and Orthopedics revenue up 2.6% underlying Established Markets revenue…

Chronicle Live

Sainsbury's, Asda and Morrisons all cutting prices to help tackle rising cost of living crisis

The supermarkets have reduced prices for many food items to help people who have been hit by the cost of living crisis. Here are all the items whose prices have been slashed

Wales Online

Warning over price rises as cost of Pot Noodles and Marmite on the rise

'This period of unprecedented inflation requires us to take further pricing action'

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Benzinga

'Warning Sign': Experts React To Surprise 1.4% Drop In US GDP

The SPDR S&P 500 ETF Trust (NYSE: SPY) traded higher by 2.1% on Thursday after the Commerce Department said U.S. GDP declined 1.4% in the first quarter.

StockNews.com

How Sky-High Inflation is Affecting the Restaurant Industry

Inflation reached its 40-year high last month, raising food prices at the fastest pace in decades. The restaurant industry is handling rising food costs strategically. We think the fundamentally strong restaurant stocks Dine Brands (DIN), Bloomin’ Brands (BLMN), and Chuy’s Holdings (CHUY) could be good investments in this situation.

The Independent UK

Kansas moves to phase out tax on groceries after election

Kansas is moving to phase out the nation’s second-highest state sales tax on groceries, but Republican lawmakers aren’t planning to lower consumers’ bills until after Democratic Gov. Laura Kelly faces reelection in November

ABC News

As a result of COVID-19, more people are experiencing food insecurity — and community services are stepping in to help

One in six Australians are experiencing food insecurity, and community services are facing increasing demand to step in.

Roll Call

At the Races: Signs of red ahead - Roll Call

The CQ Roll Call newsroom tracks campaigns nationwide, sharing the best stories, with some extras, in the At the Races newsletter.

Daily Mirror

'Beer drought' warning after workers making Stella and Budweiser threaten to strike

Beer lovers are being told to expect shortages of Budweiser , Stella Artois, Becks, Boddingtons and Export Pale Ale if planned strike action on pay goes ahead this year

AAP

Economic disruption to continue: Morrison

The prime minister says external influences on the economy will continue "for some time", as the rising cost of living came back into focus in the campaign.

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