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The Latest Breaking News from Inflation

Falling UK inflation not leading to rise in spending, report finds

May recorded the lowest spending growth since February 2021, Barclays’ snapshot of card activity shows

The Guardian - UK

Wages bump unlikely to concern Reserve Bank: economists

A 3.75 per cent boost to minimum wages and awards will deliver a small real gain to millions of Australian workers without throwing fuel on the inflation fire.

AAP

Nigeria loses electricity and major airports close as unions seek higher wages amid record inflation

Africa’s most populous country has ground to a halt as Nigeria’s largest labor unions begin striking to demand a salary increase amid the worst cost of living crisis in decades

The Independent UK

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CEOs made nearly 200 times what their workers got paid last year

Even with Covid wage rises, the gap between the person in the corner office and everyone else keeps getting wider

The Independent UK

CEOs got hefty pay raises in 2023, widening the gap with the workers they oversee

The typical compensation package for chief executives who run companies in the S&P 500 jumped nearly 13% last year, easily surpassing the gains for workers at a time when inflation was putting considerable pressure on Americans’ budgets

The Independent UK

Fed president says that Americans have such a ‘visceral’ hatred of inflation that they’d rather have a recession than rising prices

"I have learned that the American people—and maybe people in Europe equally—really hate high inflation. I mean, really viscerally hate high inflation."

Fortune

Turkish Inflation Exceeds 75% But Peak In Sight

Turkey has been battling soaring consumer prices that prompted Erdogan to drop his opposition to interest-rate hikes to combat inflation.

International Business Times

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Stocks Set to Open Higher as Rate Cut Bets Firm, U.S. Jobs Data in Focus

June S&P 500 E-Mini futures (ESM24) are up +0.25%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.37% this morning as speculation over interest rate cuts by major central banks heightened appetite for risk-driven assets, while market participants looked ahead to a fresh slew of U.S. labor market data,…

Barchart

Low-paid wages up 3.75%, with more to come for childcare and health professionals

The Fair Work Commission has boosted the wages of workers on awards by 3.75%, just a touch above the official inflation rate of 3.6%.

The Conversation

European and Canadian central banks expected to cut interest rates this week

New lower rates of 3.75% and 4.75% respectively are likely to be introduced this week after drops in inflation

The Guardian - UK

Stock market today: Asian shares start June with big gains following Wall St rally

Shares in Asia have started June with big gains after Wall Street finished with another push higher

The Independent UK

ECB To Start Rate Cuts But Sticky Inflation Clouds Path Ahead

The European Central Bank is expected to begin cutting eurozone interest rates from historic highs this week, but sticky inflation means the move is unlikely to kickstart a rapid easing cycle.

International Business Times

Asian Markets Rally On Renewed US Rate Cut Hopes

Asian markets rallied and the dollar weakened on Monday as a closely watched US inflation gauge dipped in April, reviving hopes that the Federal Reserve will cut interest rates this year.

International Business Times

Bank of England Under Fire From Leader of the Campaign for Fair Finance

Is the Bank of England up to the job of managing the UK's monetary policy? The leader of The Campaign for Fair Finance Dr Roger Gewolb offered me his views of the UK's central bank.

International Business Times UK

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The Guardian - AU

Minimum wage workers in Australia to get a 3.75% pay rise over the next 12 months

Fair Work Commission lifts minimum wage to $24.10 an hour from July, with the rise outpacing the government’s forecast inflation rate

Top News

Inflation, Not Trump, Impacting Biden's Poll Numbers

Explore the impact of inflation on public opinion of President Biden's administration and proposed solutions for economic challenges.

Top News

President Biden's Efforts To Combat Inflation And Economic Challenges

Explore the impact of rising inflation rates in the US and efforts to address the economic challenges.

AAP

Blaming lowest-paid workers for inflation 'disgusting'

Australia's lowest-paid workers, who will soon receive a 3.75 per cent pay bump, should not be blamed for continued inflation challenges, a minister says.

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The Independent UK

Super-sized prices! Here’s is how much a Big Mac, Chick-fil-A nuggets and Chipotle burrito cost thanks to inflation

“It’s so upsetting, because it goes against what we are expecting and what we have grown to love about fast food,” Kimberly Palmer, a personal finance expert said.

The Guardian - UK

Europe must splash the cash (and seize it) to save 2024

There is still an expensive war to fight, and if EU and UK politicians insist on using taxpayer funds for it, there will be little left to spend on public services

Top News

April PCE Report Shows Inflation Holding Steady

Latest report on PCE price index shows inflation concerns persist, with core inflation stable. Consumer spending slightly dipped. Fed faces pressure to add...

Top News

Costco's Costco's Top News.50 Hot Dog Deal To Remain Unchanged.50 Hot Dog Deal To Remain Unchanged

Costco's iconic Costco's Top News.50 Hot Dog Deal To Remain Unchanged.50 hot dog combo remains unchanged despite inflation concerns, showcasing commitment to customer value.

Barchart

Stocks Rally Late to Close Out a Volatile Session

The S&P 500 Index ($SPX ) (SPY ) Friday closed up +0.80%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed +1.51%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed -0.01%. Stocks Friday rallied sharply in the last 20 minutes of the session, reversing the losses seen...

Kiplinger

Stock Market Today: Nasdaq Slips as Magnificent 7 Stocks Drop

The Dow Jones Industrial Average, on the other hand, gained ground Friday as Salesforce bounced back.

Barchart

Dollar Drops as Bond Yields Fall on US Inflation and Personal Spending Reports

The dollar index (DXY00 ) on Friday fell slightly by -0.04%. The dollar was undercut by Friday’s -5 bp decline in the US 10-year T-note yield after the US PCE deflator report was in line with market expectations and kept alive hopes for the Fed to cut interest rates later...

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