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The Latest Breaking News from Inflation

Stock Market Today: Stocks Rise as Meme Stock Craze Continues

GameStop and several other highly shorted stocks surged again Tuesday, while Home Depot slipped after earnings.

Kiplinger

Little respite: On food price gain

The pressure on food prices remains wide-ranging, with cereals, the heaviest weight in the food category, witnessing a 26 basis points quickening in inflation

The Hindu

Wages still outpacing inflation, silver lining for RBA

Workers enjoyed a pay-packet bump in the March quarter but a drop in the wage price index has eased fears wages are contributing to inflation.

AAP

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Off-ramps built into Labor's future industries agenda

Another era of prosperity is at the heart of the government's new industry plan, yet much hinges on its design to ensure taxpayer funds are used wisely.

AAP

'More work to do' to make Australia competitive

Business groups have called for more productivity measures but warned federal budget spending boosts to tackle cost-of-living pressures could fuel inflation.

AAP

Ratings agency responds to 'dramatic' budget turnaround

A turnaround in the budget position since COVID-19 has been picked up by S&P Global Ratings, along with a tilt to "a more expansionary footing".

AAP

US Fed Chair Says Confidence Inflation Will Ease 'Not As High As It Was'

Federal Reserve chair Jerome Powell said Tuesday that hot US inflation data has lowered his level of confidence that price rises will slow back down towards the bank's long-term target.

International Business Times

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Wholesale Prices Increase Ahead Of Projections As Inflation Fight Rages

The Federal Reserve's multi-year battle with inflation continues to grind on the U.S. economy after Tuesday's data revealed a higher-than-expected increase in the Producer Price Index.

International Business Times

2024 budget delivers minor surplus but deficits loom over economy as Australia’s spending ramps up

Major shortfalls predicted over next two years as Jim Chalmers downplays potential for inflationary pressures

The Guardian - AU

Australia budget 2024: the six graphs you need to see

A surplus matters less than what choices the government makes in its budget – here’s what Jim Chalmers’ statement tells us

The Guardian - AU

Wholesale inflation on high food prices jumps to 1.26 pc in April

The data showed that the rate of inflation based on WPI Food Index increased from 4.65% in March, 2024 to 5.52% in April, 2024. Read further on Dynamite News:

Dynamite News

Federal budget 2024: $300 energy rebates, cheaper medicines and rent relief in Jim Chalmers’ cost-of-living budget

Treasurer takes gamble on pre-election cost-of-living package that is likely to spark debate about whether the government is doing enough to tame inflation

The Guardian - AU

Workers to enjoy real wages growth, despite inflation

Australia's labour market is proving remarkably resilient, despite slowing economic growth, meaning workers can expect wages growth to outstrip inflation.

AAP

Economists warn budget could 'poke inflationary bear'

Loosened purse strings cast doubts over the inflation-fighting credentials of the Albanese government's third budget, which also points to a weakening economy.

AAP

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Barchart

Stock Index Futures Tread Water Ahead of Key U.S. PPI Data and Powell Remarks

June S&P 500 E-Mini futures (ESM24) are up +0.02%, and June Nasdaq 100 E-Mini futures (NQM24) are up +0.03% this morning as investors geared up for crucial U.S. producer inflation data while also awaiting comments from Federal Reserve Chair Jerome Powell.

Evening Standard

Jeremy Hunt hails wage rises outstripping inflation for 10th month in a row as economy bounces back

Official figures on the ‘wages recovery’ come just days after GDP growth jumped 0.6% in first three months of the year

The Guardian - UK

Bank of England chief economist hints at summer rate cut; Tesco CEO’s pay doubles to nearly £10m– as it happened

Latest UK labour market report shows more people out of work, or economically inactive, but wage growth remains higher than inflation

The Guardian - UK

NHS spending rise lags behind Tory funding pledges, IFS finds

Thinktank says extra funding eaten up by higher inflation despite greater demand with service in poor state of repair

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International Business Times

US Fed Vice Chair Says Interest Rates Should Remain On Pause

The US central bank should keep interest rates at their current "restrictive" levels until it sees real progress in the fight to lower inflation, a senior Fed official said Monday.

Top News

Australia Achieves Second Consecutive Budget Surplus, Inflation Decreases

Australia's consecutive budget surplus and declining inflation rates signal economic stability and resilience.

AAP

Australian shares dip ahead of US inflation data

The ASX200 has dipped 0.3 per cent as traders wait to see if US inflation has cooled.

International Business Times

Asian Traders Bide Their Time Ahead Of Key US Inflation Data

Asian investors shifted cautiously Tuesday ahead of the release of key US inflation data that could have a huge bearing on the fate of Federal Reserve interest rate cuts this year.

The Guardian - AU

Jim Chalmers delivers 2024 budget speech – as it happened

This blog is now closed.

Barchart

Stocks Close Little Changed on Caution Ahead of US Inflation Reports

The S&P 500 Index ($SPX ) (SPY ) Monday closed down -0.02%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.21%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.21%. US stocks on Monday settled mixed. Higher inflation expectations weighed on stocks Monday after...

Kiplinger

Stock Market Today: Stocks Struggle Ahead of PPI, Powell Speech

While the main indexes were relatively quiet Monday, GameStop made a lot of noise as it reclaimed its meme-stock status.

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