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The Latest Breaking News from Inflation

Inflation for May remains high at 8.7% putting more pressure on household finances this summer

Economy experts had expected inflation to fall last month to 8.4%.

Daily Record

Stock market today: Asian shares mostly lower, tracking Wall Street retreat

Shares are mostly lower in Asia after Wall Street benchmarks retreated following the S&P 500's rise to its highest level since the spring of last year

The Independent UK

UK borrowers brace for more expensive loans as inflation fails to fall as anticipated

Official figures show that consumer price inflation across the U.K. is unchanged at 8.7% in the year to May against expectations for a modest decline, a development that is likely to see the Bank of England raise the cost of borrowing again

The Independent UK

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Rise in mortgage rates on Thursday looks inescapable, say experts

Further monetary tightening risks deepening the financial pain for people and businesses, according to some commentators.

The Independent UK

Inflation remains unchanged and at 'historically high level' as new figures released

The Office for National Statistics said Consumer Prices Index inflation (CPI) remained at 8.7 per cent in May

Manchester Evening News

UK debt mountain hits £2.6 trillion - or more than we all produce in a year

As inflation stays at 8.7 per cent in May unleashing more economic difficulties for millions of households

Evening Standard

Inflation unchanged in May, heaping further pressure on households

he pressure on households from the rising cost of living did not ease last month, new figures have revealed, as inflation remained higher than…

The National (Scotland)

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Inflation news – live: Fears of ‘shock-and-awe’ Bank of England hike as mortgage rates climb

Markets brace for Bank of England rate hike of 0.5 per cent, as cost of government borrowing also hits new 15-year high

The Independent UK

Bank poised to hike interest rates as inflation remains unchanged at 8.7%

OONS figures show stabilising energy prices were offset by rises in cost of air fares, holidays and secondhand cars

The Guardian - UK

Reserve Bank says Newcastle labour market 'tight', but it may not last long

Deputy governor Michele Bullock told a Newcastle industry lunch that unemployment would rise to help control inflation.

Newcastle Herald

Wednesday briefing: How to solve the UK’s mortgage mess, as interest rates rise again

In today’s newsletter: Rising inflation and interest rates mean real pain for homeowners – with few signs of relief on the way

The Guardian - UK

Inflation stagnates at 8.7 per cent as figure is unchanged in latest update

It had been expected to fall slightly

Wales Online

Inflation remains frozen on 8.7 per cent ahead of Bank decision on interest rates

ONS says freeze caused by rising prices for plane tickets, recreational and cultural goods and services and second-hand cars

The Independent UK

UK inflation unchanged at 8.7% but prices still rising - what it means for your money

Experts had predicted inflation would fall to 8.4%, heaping pressure on the Bank of England when it announces its latest interest rates decision tomorrow (June 22)

Daily Mirror

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Evening Standard

UK inflation stuck at 8.7% in another cost-of-living shock

The higher-than-expected figure likely means more interest rate rises

The Guardian - UK

Bank of England must ‘create recession’ to fight high inflation, Hunt advisor says, as mortgage rates rise again – as it happened

Member of Jeremy Hunt’s economic advisory council says BoE must create “uncertainty and frailty”, after UK headline inflation was unchanged at 8.7% in May

Evening Standard

FTSE 100 Live: ‘Inflation has become entrenched’ — blue-chips close at 7559 after prices shock; gilts surge

The Office for National Statistics published May’s inflation figures this morning, confounding experts in the City again as inflation remained stuck at 8.7%. Core inflation, which hit a 30-year high in April, rose even higher to 7.1%.

Zenger

Powell To Face Congress Amid Criticism Over Fed’s Policy Stance

Questions on interest rates, banking regulation, and inflation to be raised during Powell's testimony.

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The Guardian - AU

Will the Taylor tour spur inflation? No, but a Swift spending spree might just save us from a recession

The pop star’s February visit will mean that for the hospitality and travel industries, the summer boom will last a little longer

The Independent UK

Powell to face Capitol Hill hearing at a time of rising uncertainty over Fed's interest-rate plans

Federal Reserve Chair Jerome Powell will begin two days of hearings before Congress on Wednesday that will likely focus on the question that consumed the central bank last week: How far and how fast will the Fed raise its key interest rate from here

StockNews.com

Investing with Occam’s Razor

Time to get philosophical about the outlook for the market with the help of Occam’s Razor. This tool tells us to assume that the simplest explanation is the most likely. Now lets apply that to recent Fed statements for what that tells us about the next move for the stock…

The New Daily

Michael Pascoe: Speech shows RBA clueless on employment

You can rely on the Reserve Bank to miss or downplay a major factor or two when it strays into what’s actually happening in Australia.

StockNews.com

3 Stocks to Play US Manufacturing Boom

From late 2021 to August 2022, Congress passed the Bipartisan Infrastructure Law, the Chips and Science Act, and the Inflation Reduction Act (IRA). This is somewhat reminiscent of Franklin Roosevelt's New Deal in the 1930s. Except that the sheer numbers are much larger. The U.S. government is putting a whopping…

The Guardian - UK

Tory MPs split on whether to intervene to help mortgage holders

Figures released on Wednesday expected to confirm UK stuck with highest inflation rate in G7

Evening Standard

What is the difference between core inflation and headline inflation?

Inflation rates are continuing to rise despite the Government’s and Bank of England’s efforts

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