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The Latest Breaking News from Inflation

Supermarkets reject calls for price cap amid claims shops are profiteering from inflation

Food bosses said supermarkets the 'most competitive we have ever been' as they were grilled by MPs on Tuesday.

Daily Record

Supermarkets say they are doing everything they can amid ‘profiteering’ quiz

Supermarket senior executives from Tesco, Asda, Morrisons and Sainsbury’s have been questioned by MPs over eye-watering food inflation.

The Independent UK

Tesco boss defends hundreds of millions in profits during bruising exchange with MP

Speaking to MPs today, Tesco commerical director Gordon Gafa said the firm is the "most competitive we have ever been" - but Labour's Darren Jones questioned a steep rise in profits since Covid

Daily Mirror

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Europe's interest rates to stay high as long as needed to defeat inflation, central bank chief says

European Central Bank President Christine Lagarde is warning that inflation is holding its grip on the economy

The Independent UK

Watch: Supermarket executives questioned on food and fuel price inflation in parliament

Watch as MPs question senior retail executives from the likes of Sainsbury's and Tesco on food and fuel price inflation on Tuesday, 27 June.

The Independent UK

Tesco, Sainsbury's, Morrisons and Asda forced to explain high food prices

Prices are still rising while wholesale costs are dropping

Liverpool Echo

Pressure grows on supermarkets as soaring food prices ‘harm mental health’

Many people say their physical health has deteriorated because of high food prices

The Independent UK

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Thames Water CEO quits in shock departure; UK supermarkets deny profiteering; Brexit ‘fuelling inflation’ – as it happened

Thames Water has announced that Sarah Bentley has resigned as chief executive of the company.

The Guardian - UK

Stock market today: Asia mixed after Wall St drifts lower following run-up

Asian stock markets are mixed after Wall Street drifted lower following its latest rally

The Independent UK

Bankrate:Why is it harder to get a car loan in 2023?

When the time comes to purchase your next vehicle, you want to focus on finding your dream car, not fighting for affordable financing. But since the pandemic’s early days, the car market has shifted. Inflation made finding competitive rates challenging, and supply chain issues pushed average car prices above MSRP.

Tribune News Service

Why the last mile on the road to low inflation may yet prove to be the toughest

While inflation may have peaked in 2022, households and firms are getting more used to it, making it harder to dislodge

The Guardian - AU

Shop price inflation easing, say top UK retailers before key meeting with MPs

British Retail Consortium says figure eased to 8.4% in June from 9% in May

The Guardian - UK

Food inflation eases for second consecutive month

Shop price inflation overall slowed to 8.4% in June, down from 9% in May, according to the BRC-NielsenIQ Shop Price Index.

The Independent UK

Rishi Sunak warns 'people may not like' decisions over public sector pay review

The Prime Minister - who is worth £529m - hinted he might offer less than the amount recommended by Government-appointed pay review bodies

Daily Mirror

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The Guardian - UK

Shaken by inflation? Be a Brit and show some grit, says Rishi

Life’s about survival these days – but the trick, according to the PM, is just to hold our nerve

StockNews.com

1 Entertainment Stock to Buy, 2 to Watch This Week

The entertainment industry is poised for significant expansion, propelled by its recovery from the pandemic and a strong labor market. However, the Fed has indicated further rate hikes could be in the offing, which could affect the discretionary spending on entertainment. Considering these factors, buying fundamentally strong entertainment stock Endeavor…

The Guardian - UK

Here’s how we can stop Britain’s inflation nightmare

Letters: Readers offer solutions to rising interest rates and mortgage costs

Zenger

Rep. Khanna Questions Fed’s 2% Inflation Target Amid Calls For Re-evaluation

As the inflation rate sits above 4%, Khanna asks why not set the target at 3% to address modern needs.

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TechRadar

Overcoming the major barriers to business & IT modernization

Unstable inflation and rising interest rates have led organizations to drive efficiencies where possible.

Fortune

Banks face their worst losses since the 2008 crisis if inflation cannot be tamed

The Bank for International Settlements, the central bank to the world, warned unsustainable debt levels mean the global economy is not out of the woods.

The Independent UK

New Brexit checks will make food price inflation even worse, warns industry

Firms will have to pass on extra costs of red tape, warns Fresh Produce Consortium

The Independent UK

Stubbornly high inflation ‘could pave way for state pension boost next year’

Under the triple lock, the state pension is uprated in April by inflation, wages or 2.5%, whichever is higher.

The Hindu

Data Point | The gender disparity in healthcare

A look at the gender gap in multiple healthcare domains including clinical trials, research funding as well as testing and diagnosis.

The Independent UK

Jeremy Hunt pushes for investigation into firms exploiting inflation crisis for profit

Summit follows claims retailers are using spiralling inflation to boost profit margins by failing to pass on lower costs to consumers

Daily Record

Rishi Sunak warns public sector workers over pay as UK Government struggles with inflation

The multi-millionaire Tory leader claimed it was important to “make the right and responsible decisions on things like public sector pay”.

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