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The Latest Breaking News from Inflation

Australia in ‘retail recession’ as inflation and rate hikes hit spending, says report

With a 0.6% slump in turnover in the March quarter expected to continue, Deloitte forecasts a broader ‘consumer recesssion’ later this year

The Guardian - AU

Erdogan’s Wall Street Guy Is Back to Replenish Wiped-Out Coffers

Investors soured on Turkey’s contrarian economic policies. New Finance Minister Mehmet Simsek might just be able to bring enough of them back.

Businessweek

Economy slows to a crawl as consumers cut spending

Australia’s economy is slowing rapidly as families slash spending and raid their savings to deal with the cost of living crisis.

The New Daily

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Has Saudi Arabia lost control of oil prices?

Saudi Arabia has risked divisions within Opec, inflaming tensions with the US and reigniting inflation in Europe, all in a bid to boost flagging oil prices.

The Week

The 20 priciest cities for expats in 2023

It's bad news for workers dreaming of uprooting to the Big Apple.

Fortune

Squeeze on real wages in UK to last until Christmas, say OECD economists

UK economic growth also lagging behind many other wealthy nations

Evening Standard

OECD lifts world GDP growth forecast to 2.7%

PARIS: The OECD slightly raised its growth outlook for the world economy on Wednesday as inflation eases and China has dropped Covid restrictions, but it warned the recovery faces a "long road".

Bangkok Post

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Going down: the 6 graphs that show Australia's economic growth shrinking

The latest national accounts tell us Australia’s economy grew by just 0.2% in the three months to March.

The Conversation

UK to have one of the highest inflation rates of any developed economy, OECD warns

THE UK will have one of the highest inflation rates of any major developed economy this year, the Organisation for Economic Co-Operation and…

The National (Scotland)

Persistent inflation, rising interest rates will weigh on global economy, OECD predicts

The global economy is bouncing back from an an energy price spike fed by Russia's invasion of Ukraine

The Independent UK

Afternoon Update: Lowe says struggling Australians could work more; Fraser Island renamed K’gari; and the origins of masturbation

RBA governor warns against idea that all workers’ wages should rise in line with inflation

The Guardian - AU

This TikToker Is Explaining Inflation For The Girls And Finally, I Think I Get It

This made complete sense, I feel enlightened.

Pedestrian.tv

Jeremy Hunt expresses concern about cost of living crisis after OECD forecast

Chancellor responds to news UK likely to avoid recession but will have one of highest inflation rates among G20

The Guardian - UK

Bitcoin, Ethereum, Dogecoin Flat Amid Inflation Fears: This Could Signal ETH ‘On Its Way’ To $2K

Major cryptocurrencies traded flat on Sunday evening even as investors appeared less concerned as the U.S. avoid debt default.

Zenger

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The Independent UK

Rishi Sunak to flag Inflation Reduction Act concerns in talks with Joe Biden

He will also push for action on artificial intelligence (AI) regulation and seek greater economic co-operation with the US.

The Guardian - AU

Interest rates blame game continues – as it happened

This blog is now closed

The New Daily

Inflation-beating pay rises can’t be widespread: RBA

RBA governor Philip Lowe says the lowest-paid workers need to be insulated from high inflation but a surge in wages across the board could be a problem.

The Guardian - AU

Struggling Australians can cut back spending or work more to get into ‘positive cash flow’, Philip Lowe says

The Reserve Bank governor says rates will keep being lifted if necessary, despite ‘significant financial pressure’ for some

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Bangkok Post

Inflation declines to 21-month low

The country's rate of inflation last month plunged to a 21-month low attributed to decreasing fuel prices and electricity bills as well as a high price base in May last year, with the rate expected to continue easing in June.

The New Daily

Michael Pascoe: Is the RBA acting out of spite or just lost the plot?

Passing without notice in April, the Reserve Bank pulled a neat little trick, apparently making multiple billions of dollars in losses “disappear”. I’ve

StockNews.com

1 Must-Buy Retailer Stock, 2 to Sell

Despite persistent inflation, consumer spending has remained robust lately, boosting the retail industry’s growth prospects. Therefore, retailer stock Build-A-Bear (BBW) could be a wise investment due to its solid fundamentals and bright growth outlook. However, struggling retailer stocks SIGNA Sports (SSU) and Rent the Runway (RENT) might be best avoided…

StockNews.com

3 Luxury Stocks to Invest In

Despite the uncertain macroeconomic conditions, the luxury industry has remained resilient. As inflation continues to ease and consumer spending remains strong, it could be wise to invest in fundamentally strong luxury stocks, TJX Companies (TJX), Weyco Group (WEYS), and J.Jill (JILL). Keep reading.

StockNews.com

Buy, Sell or Hold? Nike (NKE) and Foot Locker (FL)

Sticky inflation, the Fed’s aggressive rate hikes, and the US banking sector turmoil is paving the way for a recession this year. Thus, I think this is not the right time to consider investing in Foot Locker (FL) and NIKE (NKE). Read on.

The Hindu

A.P. Secretariat CPS Association demands govt. to revert to Old Pension Scheme

The Andhra Pradesh Secretariat CPS Association has demanded that the State government restore the Old Pension Scheme (OPS) and do away with the Contributory Pension Scheme (CPS) instead of the proposed Guaranteed Pension Scheme (GPS). In a letter submitted to the Principal Secretary (HR), Finance Department, on June 6 (Tuesday),…

The New Daily

Economists warn worst is yet to come after June interest rates rise

The June interest rates hike might not be the last, either, with RBA boss Philip Lowe saying more may still be needed.

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