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The Latest Breaking News from Inflation

FTSE 100 Live: US inflation at 4.9%; John Lewis staff back boss; pound strongest in year; FTSE closes at 7732

ASOS shares are down sharply after the fast fashion chain reported a deeper half-year loss and said it faced a challenging trading backdrop.

Evening Standard

John Lewis boss Sharon White wins staff confidence vote; US inflation slows to 4.9% – as it happened

Staff criticise retail performance, as John Lewis boss pledges group will always remain employee-owned

The Guardian - UK

Stock market today: Asia dips ahead of US inflation report

Asian shares are declining in muted trading as investors await an upcoming report on U.S. inflation, an important indicator for where interest rates and global growth might go in the coming months

The Independent UK

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Tim Martin blasts ‘lack of understanding’ by MPs on inflation as Wetherspoon sales hit fresh record

The JD Wetherspoon boss said a ‘lack of understanding’ among some senior politicians presented a ‘real threat’ to future prosperity

Evening Standard

Bank of England interest rate hikes: Is this the week they peak?

All eyes on Threadneedle Street at noon on Thursday as thousands of mortgages and loans track the base rate

Evening Standard

How Australia’s newspapers reacted to the 2023 federal budget

Cartoons of treasurer Jim Chalmers dominated front pages, while the budget works ‘a Chalm’ for the voter featured on the Daily Telegraph

The Guardian - AU

Chalmers defends budget’s ‘meaningful’ help amid split on interest rate risks

Treasurer Jim Chalmers has defended his second budget as offering "meaningful relief to households" – while not contributing to inflation.

The New Daily

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Americans likely saw little relief from inflation in April

After steadily declining for nearly a year, consumer price data to be released Wednesday will likely show that U.S. inflation remained stubbornly high in April, a sign that it might be entering a newer, stickier phase

The Independent UK

Extra £8m support for Bristolians ‘most in need’ struggling with rising cost of living

Inflation has been in the double digits since last July, leaving many in Bristol struggling to pay the bills

Bristol Post

Economists say federal budget unlikely to have much effect on interest rates

While the 2023 budget is unlikely to budge the RBA, experts are watching for inflationary pressure from a population boom and energy prices

The Guardian - AU

Australian government rejects concerns budget may worsen inflation

Australia's Labor government said on Wednesday the billions in cost-of-living relief unveiled in the federal budget for families and businesses will not worsen inflationary pressures and put more pressure on the central bank to lift rates further.

Reuters

Why Steve Reitmeister is Becoming More Bearish

40 year investment veteran Steve Reitmeister unveils new clues that point to increased odds of bear market and new lows on the way for the S&P 500 (SPY). Get his updated market outlook, trading plan and top picks in the article below.

StockNews.com

PM defends budget spending, denies inflation fears

Prime Minister Anthony Albanese says the budget reflects Labor's responsible economic management and at the same time doesn't leave struggling people behind.

The New Daily

PM maintains ‘we’re the party of aspiration’ – as it happened

This blog is now closed.

The Guardian - AU

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ABC News

Federal budget 2023: Does a budget focused on the cost of living mean inflation and interest rates could get worse?

Treasurer Jim Chalmers is adamant that his budget will not make inflation worse and force the Reserve Bank's hand on interest rates — but economists are divided, with some saying it paves the way for a rate hike in the coming months.

Kiplinger

Stock Market Today: Stocks Churn Ahead of April CPI Report

The major market indexes made modest moves Tuesday as investors awaited debt-ceiling updates and inflation data.

Barchart

Dollar Climbs on Safe Haven from the U.S. Debt Impasse

The dollar index (DXY00 ) on Tuesday rose by +0.22%. The dollar on Tuesday posted moderate gains as concern about the ongoing U.S. debt ceiling turmoil boosted safe-haven demand for the dollar. Also, hawkish comments from New York Fed President Williams and Fed Governor Jefferson lifted bond yields and were...

Fortune

America is drunk on credit–and polarized politics complicate the Fed’s unenviable challenge of ending easy money

If the economy tanks in the months ahead, Powell will get the blame. If we avoid a recession, the politicians will claim credit.

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StockNews.com

3 Tech Stocks to Hedge Inflation

Despite significant turbulence, the technology sector’s prospects remain positive due to fast digital transformation and increasing internet adoption. So, investors looking for a solid tech stock should pick TDK (TTDKY), Seiko Epson (SEKEY), and Daktronics (DAKT). Read on.

The Independent UK

Universities and colleges face investigations over grade inflation – watchdog

There is a risk that if large numbers of students are handed top degrees it ‘could be seen to devalue the award’, Office for Students chairman said.

Barchart

Stocks Under Pressure from U.S. Debt Ceiling Impasse and Weak Chinese Imports

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.44%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.15%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.56%. U.S. stocks this morning are moderately lower. A drop...

StockNews.com

The Pros of Investing in These 3 Gold Stocks in the Current Economic Climate

Gold is considered the ultimate safe-haven hedge against inflation as its value tends to rise in an uncertain economy. Recently, gold prices crossed the $2,000 level and a record high is in sight. Amid a volatile economic backdrop, investors could buy quality gold stocks Endeavour Mining (EDVMF), B2Gold (BTG), and…

Dublin Live

Cost of living: Calls grow for supermarkets to slash prices amid inflation

Representatives from major supermarkets are set to meet with the Dail tomorrow to discuss alleviating financial pressures on shoppers

Barchart

Markets Today: Stocks Slip as Bank Stocks Fall and Chinese Imports Plunge

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are down -0.33%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.50%. U.S. stock index futures this morning are moderately lower. A drop of more than -15% in PacWest Bancorp in pre-market trading is leading regional bank...

Daily Record

Sainsbury's slashes cost of own-brand bread and butter as prices fall

The supermarket has said the price cuts are in response to the falling commodity prices of wheat and butter.

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