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The Latest Breaking News from Inflation

The U.K. economist who told Brits to 'accept' being poorer apologizes—kind of

A top U.K. economist ruffled feathers with tactless remarks last month about inflation's primary cause.

Fortune

Michael Pascoe: JobSeeker is higher than the minimum wage

The thing about increasing JobSeeker – both the government and the Opposition want to make the cut-off for it higher than the minimum wage.

The New Daily

Dollar Gains on Positive U.S. Economic News and Higher Bond Yields

The dollar index (DXY00 ) on Tuesday rose by +0.12%. The dollar saw support from stronger-than-expected U.S. manufacturing production and NAHB housing reports, which pushed T-note yields higher. In addition, hawkish Fed comments Tuesday from Chicago Fed President Goolsbee and Richmond Fed President Barkin gave the dollar a boost. Weakness...

Barchart

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Hackboard 2 Celeron N4020 Windows 11 SBC Launches at $199

The Hackboard 2 is now available to the general public, but its Intel CPU is pretty old and low-powered, and it seems to have undergone some hefty price inflation.

Tom’s Hardware

No 10 food summit ‘no more than a PR stunt’ and failed to tackle key issues

Rishi Sunak’s Farm to Fork meeting, the first of its kind, failed to address solutions to inflation, soaring costs and food security, say attenders

The Guardian - UK

Westminster ‘stands idly by whilst food prices continue to skyrocket’, SNP says

David Linden called on the UK Government to ‘put pressure on major retailers to pass on falling wholesale prices to consumers’.

The Independent UK

Millions of UK pensioners could receive an extra £750 next year

Triple lock could mean an extra £750 for people who started claiming their state pension after April 6, 2016, if forecast is correct

Chronicle Live

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Charity boss on 'concerning' rise in mental health crisis referrals amid cost of living pressures

During Mental Health Awareness Week, charity boss Adam Crampsie has spoken out about the impact the cost of living crisis and rising inflation has had on people in the North East

Chronicle Live

How much extra income tax you’ll pay by 2027 due to frozen thresholds

Think tank says millions of workers will be dragged into higher rate of income tax by 2027

The Independent UK

Sales up, profits down at Shoe Zone – as store estate shrinks by 52

Profits were impacted by inflation, lower margins due to higher container prices and a weak pound

Birmingham Post

Retail sales up 0.4% in April from March, buoyed by solid job market, easing inflationary pressures

Consumers picked up their spending in April from March, buoyed by a solid job market and easing inflationary pressures

The Independent UK

Greggs aiming to maintain prices despite challenges of inflation

The Newcastle food chain says it has gained market share because of the value of its produce

Chronicle Live

Wage data looms as key to another potential interest rates hike

The potential for another painful hike in interest rates is balanced on a knife’s edge ahead of crucial new wages growth data.

The New Daily

Turkey’s economic crisis expected to deepen after Erdoğan tops poll

Analysts fear Erdoğan victory could lead to further instability with high inflation and lira already close to historic low

The Guardian - UK

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Edinburgh Live

Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose double food prices in a year

Analysts at Which? looked at the prices of 26,000 products at eight supermarkets – Aldi, Asda, Lidl, Morrisons, Ocado, Sainsbury’s, Tesco and Waitrose - as part of its monthly inflation tracker.

Daily Record

Supermarket staples double in cost since last year - full list of price hikes

A which? analysis has found that grocery staples such as meat, fish and vegetables have doubled in the last 12 months.

Reuters

Polish child benefit hike could hamper inflation fight, say economists

Poland's ruling nationalists are hoping a pledge to increase child benefit payments can help them deliver a third straight election victory this year, but economists warn the move could make fighting inflation harder.

The Guardian - UK

CMA denies blocking Microsoft-Activision deal is bad for UK’s reputation; unemployment rises – as it happened

Turning a blind eye to anti-competitive deals wouldn’t improve UK’s reputation as good place to do business, suggests Competition and Markets Authority

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Evening Standard

Drop in real term pay erodes spending power of millions of Britons

Sky-high inflation eroded the spending power of millions of families across Britain as the cost-of-living crisis hit hard at the start of the year, official figures revealed on Tuesday.

The New Daily

Threat of higher rates remains, but peak may be in sight

The Reserve Bank is prepared to hike interest rates again in June, but has signalled mortgage bills may now be high enough cool inflation.

The Guardian - UK

UK government urged to act as some meat and veg prices double in a year

Which? and other groups call for intervention as food industry figures gather for summit with Rishi Sunak

Daily Record

The Tories can still not be trusted as they continue to fail to get to grips with inflation

Rishi Sunak has promised to half inflation by the end of the year, but that does nothing for families struggling right now.

ABC News

Interest rates unlikely to fall amid 'once-in-a-generation' inflation battle, warns former RBA boss Glenn Stevens

The Reserve Bank of Australia (RBA) warns further interest rate increases are still possible, as a former RBA governor says the low-rate era is over, leaving households feeling like Australia is heading for recession.

The Guardian - AU

Decision to lift interest rates influenced by higher-than-forecast rent increases, RBA says

Minutes from recent meeting say surprise call was ‘finely balanced’ and aimed at diminishing the risks of high inflation becoming entrenched

The Guardian - UK

One in five workers will be higher-rate taxpayers by 2027 – IFS

Jeremy Hunt’s freeze on allowances and thresholds will put a quarter of teachers and one-eighth of nurses in 40% income tax bracket

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