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The Latest Breaking News from Inflation

Stubborn inflation, tight labor market quite challenging, Miami Fed exec says

Inflation needs to be brought under better control before the Federal Reserve starts reversing its monetary policy of boosting interest rates, a Miami-based regional executive with the Federal Reserve Bank of Atlanta said Tuesday, during a regional economic summit at Key Biscayne.

Miami Herald

ACTU pushing for 7 pct rise to minimum and award wages

More than two million workers on minimum and award wages should get a seven per cent pay rise to keep up with the rising cost of living, the ACTU argues.

AAP

ACTU calls for ‘survival increase’ in wages of 7 per cent

Australian unions are pushing for a "survival increase" in the minimum wage as inflation and the cost of living crush lowest-paid workers.

The New Daily

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3 of the Worst Stocks on Wall Street

Amid high inflation, banking failures in recent weeks, and tight monetary policy, the likelihood of an economic downturn has resurfaced. Given the gloomy market outlook, avoiding fundamentally weak stocks PAVmed (PAVM), PetVivo Holdings (PETV), and Sphere 3D (ANY) could be wise. Read more….

StockNews.com

1 Stock Investors Can't Get Enough Of

Consumer staples, like food, enjoy inelastic demand regardless of economic conditions. Amid the current inflationary atmosphere, fundamentally sound food-maker stock Grupo Bimbo (GRBMF) could be an ideal addition to one’s portfolio for steady returns. Continue reading.

StockNews.com

The 10 best places to live in America where your money will go the furthest

Texas suburbia seems to be the best bang for your buck during these inflationary times.

Fortune

3 Stocks Going Out of Fashion

The fashion industry currently grapples with an industry-wide lack of demand due to high inflation, increasing costs, and unstable supply chains. Given the industry’s headwinds, it might be wise to avoid fundamentally weak fashion stocks Hanesbrands (HBI), Allbirds (BIRD), and Express, Inc. (EXPR) now. Read more….

StockNews.com

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Egypt to Raise Food Subsidies Spending by 20% in FY 2023/24 Draft Budget

Egypt expects to raise its allocation for food subsidies by 20% and for petroleum products by 24% in the 2023-24 fiscal year, according to a draft budget approved by the cabinet on Wednesday. The budget forecasts GDP growth at 4.1% and inflation at an average rate of 16% during the…

Asharq Al-Awsat

Disillusioned Bulgarians head to polls for fifth time in two years

In the rugged Rhodope mountains in southern Bulgaria, many voters have little hope that Sunday's parliamentary election, the nation's fifth in two years, will produce a stable government able to tackle corruption, inflation and poverty.

Reuters

3 of the Best Stocks in 1 of Wall Street's Worst-Rated Industry

After years of robust growth, the biotech industry has struggled since last year due to several headwinds, including regulatory concerns, inflation, and the Fed’s aggressive rate hikes, which have sucked out speculative capital. Despite currently being one of the poorly-rated industries, investors could consider buying top-biotech stocks Gilead (GILD), Vertex…

StockNews.com

Two Texas Democrats will vote for GOP bill to reverse their own party’s signature climate improvement initiatives

Gonzalez and Cuellar both represent oil and gas workers in South Texas and expressed misgivings about the Inflation Reduction Act, their party’s climate package last year.

The Texas Tribune

Ignore the doomsayers, the sky won’t fall if Australian workers get a pay rise

There has not been a wages breakout even in this period of extraordinary inflation, yet the fear of one continues to be spread

The Guardian - AU

‘Simply about survival’: ACTU calls for 7% pay rise for lowest-paid workers to keep pace with inflation

Minimum hourly rate would rise to $22.88 – or $45,337 a year – if the Fair Work Commission grants the increase

The Guardian - AU

Inflation is declining, but health premiums and medical costs are heading higher

WASHINGTON — During the pandemic, health care costs — usually a main driver of U.S. inflation — remained surprisingly stable, rising just about 2% annually even as prices for many goods and services soared more than three or four times that rate.

Los Angeles Times

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The Guardian - UK

Jeremy Hunt promises to find extra cash to help fund public sector pay deals

UK chancellor tells MPs high level of inflation means Treasury support is necessary to avoid cutting frontline services

Asharq Al-Awsat

Britain’s Next Sees Lower Clothing Inflation, Shares Dip on Cautious Outlook

British fashion retailer Next (NXT.L) reported a better-than-expected 5.7% rise in annual profit on Wednesday and said it would not need to increase prices by as much as previously thought. However, it still expects higher spending on wages, energy and technology to reduce its profit this year, and the retailer's…

The Independent UK

Hunt says no decision yet on extra funding for public sector pay awards

The Chancellor has told the Commons Treasury Committee that there is ‘no room for complacency’ on inflation.

Manchester Evening News

The cost of NHS prescriptions will rise from this weekend

Prescriptions will rise by the inflation rate of 3.21 per cent this weekend

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Irish Mirror

'Households are going to have more money to spend' - Expert gives inflation projection for 2023

"There have been developments in the energy markets in particular over the last couple of months that lead us to believe that the inflation rate won’t be as high as that for this year"

Dublin Live

Housing market 'completely altered' as first quarter prices fall for the first time in decade

'The invasion of Ukraine and the associated shift in macroeconomic conditions, especially the rise in inflation and in interest rates, has completely altered conditions in the [housing] market'

The Guardian - UK

Next expects price rises to slow this year in sign that inflation is easing

Retailer reports record annual profits of £870m after stronger-than-expected sales but says 2023 could be ‘very challenging’

Insider UK

Scottish economy expected to return to growth in 2024

Projections suggest Scottish GVA will fall by 0.6% during 2023, largely within in the first six months

Bangkok Post

BoT raises key rate a quarter-point

The Bank of Thailand on Wednesday raised its benchmark interest rate for a fifth straight time and signalled that more tightening is on the horizon to return inflation to its target.

The Guardian - AU

Afternoon Update: all eyes on RBA as inflation slows; Hillsong founder’s DUI charge; and amateur prospector’s $250,000 find

Annual inflation rate dropped in February to 6.8% – the slowest pace since June last year

Birmingham Post

Cost of the South Wales rail Metro electrification project hits £1bn

Covid and soaring inflation has pushed up the cost of the Welsh Government's flagship transport project by around 40%

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