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The Latest Breaking News from Inflation

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 Hindu

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.

The New Daily

Futures are Signaling a Muted Open for Wall Street as Investors Weigh Economic Outlook

June S&P 500 futures (ESM23) are down -0.08%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.06% this morning after three major U.S. benchmark indices finished the regular session lower as weaker-than-expected U.S. economic data stoked investor concerns about the health of the economy.

Barchart

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Political point scoring over latest RBA rate rise won’t help those feeling the ‘painful squeeze’

How high must rates go to choke inflation? Blaming Labor’s budget, price-gouging businesses or the national wage increase isn’t an answer

The Guardian - AU

Sky-high egg prices are finally coming back down to earth

The industry is recovering from a massive bird flu outbreak and high inflation rates, but prices may not fall to what they once were.

WEKU

Why Reserve Bank Governor Philip Lowe wants to damage the economy further

Reserve Bank Governor Philip Lowe and his board have pushed up interest rates yet again – for the twelfth time in 14 months – because they want to damage the economy further.

The Conversation

Australian central bank boosts cash rate to 4.1% with 12th hike

Australia’s central bank has lifted its benchmark interest rate for a 12th consecutive time to 4.1% and warned further rises could follow

The Independent UK

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‘Difficult to understand’: Mortgage bills to rise again as RBA hikes interest rates in June

Australian households will be forced to endure a 12th hike in interest rates after the Reserve Bank moved to push up mortgage bills in June.

The New Daily

Interest rates hiked in June: RBA moves to 4.1 per cent amid fears about inflation plan

The Reserve Bank raised interest rates another 0.25 percentage points in June and has signaled more could be on the horizon.

The New Daily

RBA interest rates: Reserve Bank increases cash rate by 25 basis points in attempt to quash inflation

RBA decision to raise Australia’s cash rate by another 25 basis points brings the official rate to 4.1%, its highest level in 11 years

The Guardian - AU

Official interest rates rise above 4 per cent as RBA hikes again

Interest rates climb above 4 per cent for the first time in more than 11 years, as the Reserve Bank moves aggressively to clamp down on inflation.

ABC News

Headline inflation lowest in 21 months

Thailand's headline inflation rate dropped to its lowest in 21 months in May due to falling energy and food prices and a high base in 2022, the Commerce Ministry said on Tuesday.

Bangkok Post

Council's budget squeezed by inflation adding £5m to costs

The council's full expenditure for last year has been revealed

Liverpool Echo

No signs of recovery among despondent consumers

Consumer confidence has not budged from its weak position, although mortgage holders have regained some optimism ahead of the next cash rate decision.

The New Daily

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The Independent UK

Bank holidays fail to boost sales growth amid ongoing inflation worries

Total UK retail sales increased by 3.9% last month, below the three-month average growth of 4.7%, according to the BRC-KPMG Retail Sales Monitor.

ABC News

Angus Taylor says Australia's core inflation is higher than all the countries in the G7. Is that correct?

Shadow Treasurer Angus Taylor says Australia has higher core inflation than all of the countries in the G7. Is that correct? RMIT ABC Fact Check investigates.

Kiplinger

Inflation Causes Drivers to Switch Car Insurance Carriers

In a recent survey, 57% of drivers claimed their car insurance rate went up in the last 12 months, causing them to switch insurance carriers.

Barchart

Stocks Slip in Afternoon Trade

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.28%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.2%. After a morning rally, markets have moved into the...

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Daily Mirror

Liz Truss is blamed for inflation chaos as mortgage lenders hike rates yet again

A flood of lenders have upped rates in the aftermath of figures a fortnight ago revealing a smaller-than-expected drop in living costs

Fortune

Deutsche Bank says the U.S. is headed for a ‘policy led’ recession later—it’s the unavoidable ‘boom-bust cycle’

The easy money policies of the Federal Reserve have created a "boom-bust cycle" that will ultimately end in a recession, according to the investment bank.

Kiplinger

Here's Where Inflation is Rising the Most

These are the top 10 metro areas where inflation is increasing the most.

The Independent UK

European Central Bank chief signals more rate hikes ahead with inflation still 'strong'

European Central Bank head Christine Lagarde says inflation pressures are “strong."

Fortune

Moody’s chief economist issues dire warning to Fed about future rate hikes

"Economic growth is fragile."

Barchart

Stocks Mixed as Energy Stocks Gain after Saudi Arabia Cuts Crude Production

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.12%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.25%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.44%. U.S. stocks this morning are mixed. Energy stocks are...

Fortune

IMF's Georgieva warns Fed may need to hike further to cool down overheating U.S. economy

The Fed has already hiked to levels not seen since September 2007, but that might not be enough to bring inflation down to sustainable levels.

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