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The Latest Breaking News from Inflation

Inflation retreated in May to 5.6%, easing fears RBA will again raise interest rates

Consumer price index fell in May from 6.5% in April showing further signs that the worst of inflation may be over

The Guardian - AU

Finance Minister removes house prices from Reserve Bank remit

Newsroom is an independent, New Zealand-based news and current affairs site.

Newsroom.co.nz

The Guardian view on pricing power: it’s about firms’ strength and profiteering

Editorial: For the first time since Covid, businesses are most to blame for the UK’s high inflation rates. But ministers are doing little about it

The Guardian - UK

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Bank of England’s quantitative easing scheme let ‘inflation take root’

UK economy became reliant on cheap money due to the Bank’s actions, warns former permanent secretary to the Treasury

The Guardian - UK

A recession indicator that predicted every downturn since 1969 started flashing months ago—and a Wall Street veteran warns it always works on a delay

Megan Horneman, who worked at Deutsche Bank before moving to Verdence Capital, says many signals are pointing to an “unavoidable” recession later this year.

Fortune

Inflation surprise as rate of price growth slows in May

A softer-than-expected inflation number could be enough to keep interest rates on hold next week but the battle against rising prices is not over yet.

AAP

Supermarket bosses reject calls for price caps and deny ‘grotesque profiteering’

Executives from four of Britain’s biggest grocers were quizzed over rising prices and whether they are using inflation as an excuse to boost their profits

The Independent UK

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Global policymakers mull inflation's last mile

The hardest part of reining in prices still lies ahead.

Axios

Keir Starmer refuses to commit to public sector pay rises

It comes after Prime Minister Rishi Sunak warned he will not shy away from making decisions 'people may not like' to control inflation.

Daily Record

Jerome Powell promised a housing market 'reset'. Is it actually happening?

On Tuesday, U.S. house prices as tracked by Case-Shiller went negative on a year-over-year basis for the first time since 2012. However, it comes as month-over-month prices are rising again.

Fortune

Is Rishi Sunak picking the right targets in his anti-inflation battle?

After asking borrowers to hold their nerve, the prime minister now seems to be preparing to further squeeze public sector workers

The Guardian - UK

Biden is eager to run on the economy — 'Bidenomics' — but voters have their doubts

President Joe Biden is ready to take full political ownership of the U.S. economy -- a reflection of the White House belief that inflation is fading, job growth is solid and voters need to know about it

The Independent UK

Why are UK telecoms firms imposing inflation-busting bills?

Exclusive: Ofcom is facing calls to intervene after companies pushed through prices rises of up to 17% this year

The Guardian - UK

Mobile and broadband firms accused of fuelling UK ‘greedflation’ with major price hikes

Government accused of being ‘asleep at the wheel’ after firms push through biggest round of price hikes since 1991

The Guardian - UK

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The Week

Is Rishi Sunak delivering on his five pledges?

Early in the new year, seeking to reset and define his premiership, Rishi Sunak laid out five key “pledges” on which he asked voters to judge him come the next election.

Evening Standard

Boots adds to trend for higher high street sales as UK grapples with sticky inflation

‘Everyday’ essentials range keeps the tills ringing even as interest rates rise

StockNews.com

Is PriceSmart (PSMT) a Better Buy than Walmart (WMT)?

Retail sales grew sequentially in May as inflation continued to cool. With retail sales expected to grow between 4% and 6% this year, discount retailers Walmart (WMT) and PriceSmart (PSMT) stand to benefit. Let’s compare these two stocks to identify the better buy now….

The Guardian - UK

Corporate profits drove up prices last year, says ECB president

Christine Lagarde says without a shift in corporate behaviour, interest rates will need to stay higher for longer

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Daily Record

Supermarkets reject calls for price cap amid claims shops are profiteering from inflation

Food bosses said supermarkets the 'most competitive we have ever been' as they were grilled by MPs on Tuesday.

The Independent UK

Supermarkets say they are doing everything they can amid ‘profiteering’ quiz

Supermarket senior executives from Tesco, Asda, Morrisons and Sainsbury’s have been questioned by MPs over eye-watering food inflation.

Daily Mirror

Tesco boss defends hundreds of millions in profits during bruising exchange with MP

Speaking to MPs today, Tesco commerical director Gordon Gafa said the firm is the "most competitive we have ever been" - but Labour's Darren Jones questioned a steep rise in profits since Covid

The Independent UK

Europe's interest rates to stay high as long as needed to defeat inflation, central bank chief says

European Central Bank President Christine Lagarde is warning that inflation is holding its grip on the economy

The Independent UK

Watch: Supermarket executives questioned on food and fuel price inflation in parliament

Watch as MPs question senior retail executives from the likes of Sainsbury's and Tesco on food and fuel price inflation on Tuesday, 27 June.

Liverpool Echo

Tesco, Sainsbury's, Morrisons and Asda forced to explain high food prices

Prices are still rising while wholesale costs are dropping

The Independent UK

Pressure grows on supermarkets as soaring food prices ‘harm mental health’

Many people say their physical health has deteriorated because of high food prices

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Franklin Delano Roosevelt

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