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The Latest Breaking News from Inflation

Inflation is so bad you may want to dine out for Thanksgiving

Despite rising turkey prices, most Americans still want to serve up the classic bird for Thanksgiving dinner. But some could save time, energy, and even a little money if they opt for take-out this year.

Fortune

Inflation expected to fall further this year

Thai inflation in November and December is expected to decelerate further, following a decrease in the prices of several essential consumer goods and stable prices of some items despite higher costs.

Bangkok Post

Inflation, Recession Fears Have Holiday Shoppers Trading Down

Many shoppers are trading down to less expensive clothing and accessories -- swapping Lululemon leggings for Uniqlo and expensive lingerie for Target bras and panties -- as inflation eats into their disposable income and a rocky stock market erodes their wealth.

Bangkok Post

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October Inflation Number Is Incoming Thursday: How The Market Could React

With decades-high inflation becoming the new normal for 2022, investors are watching what the Fed's preferred inflation measure will show when October data is reported later this week. On Thursday, The Bureau of Labor Statistics will release the Consumer Price Index report for the month of October.

Benzinga

‘It’s very possible we are peaking’: IMF managing director says global inflation could soon be going down, while economist Paul Krugman says in the U.S. it might already be at 4%

Declines in rental prices and slowing wage growth could mean inflation is past its peak, but not everyone agrees.

Fortune

Fears that 'essential' fire services in Tyne and Wear face cuts amid 'huge' budget strain

Bosses say it is too early to know what job or service cuts might be coming, but the inflation crisis is posing a major headache for fire authority chiefs

Chronicle Live

CPI Shows Rents Are Rising, Zillow Forecasting Drop In 2023; Professor Says Fed's Powell Will 'See The Light'

While consumer price index data in 2022 has been showing rent prices accelerating, Zillow Group Inc.

Benzinga

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Sadiq Khan calls for return of mortgage payment holidays amid rising inflation

Mr Khan spoke out after the average rate for a two-year fixed-rate mortgage hit 6.53 per cent in October – the highest since August 2008

Evening Standard

The whole country will be watching Pa. on election night. Again

When Pennsylvania voters go to the polls Tuesday, the whole country will be watching.

The Philadelphia Inquirer

Energy boom behind major profits: Treasury

Treasury officials have been grilled about the drivers behind inflation and confirmed external supply side shocks as the chief cause.

AAP

Global inflation may be close to its peak, IMF director says

Kristalina Georgieva cautions that supply chain disruption could cause persistent pressure in living costs

The Guardian - UK

Rising interest rates: why the Bank of England has increased rates again and what to expect next

The Bank of England has increased UK interest rates by 0.75%, the biggest increase in 30 years. A year ago the interest rate was 0.1%, today it is 3%.

The Conversation

Election day: When are the midterm elections 2022?

Bipartisan researchers list main issues as economy, inflation, abortion rights and fighting gun violence

The Independent UK

Series I bond rates decline to still-high 6.89% ⁠— here’s how to buy them

If you’re looking for an investment with a high interest rate, inflation protection and the safety of government backing, then Series I bonds could be an attractive addition to your portfolio. The Treasury Department announced that I bonds will now pay 6.89% for a full six months on any bonds…

Tribune News Service

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Tribune News Service

Biggest winners and losers from the Fed’s interest rate hike

The Federal Reserve announced that it’s raising interest rates by 0.75 percentage point, following its November 1-2 meeting, bumping the federal funds rate to a target range of 3.75% to 4%. It’s the fourth straight time the Federal Reserve has raised rates 75 basis points, as the central bank rapidly…

Evening Standard

Stephen King: Has the Bank of England learned nothing from its errors on inflation?

How many times over the past two years has the Bank of England forecast a significant, lasting problem with inflation? The answer is “never”. Yes, the Bank is prepared to accept that inflation might be rather punchy at any one moment in time. The Bank will even acknowledge that inflation…

Asharq Al-Awsat

UN Chief at Climate Summit: Humanity Must Cooperate or Perish

United Nations Secretary-General Antonio Guterres told countries gathered at the start of the COP27 summit in Egypt on Monday they face a stark choice: work together now to cut emissions or condemn future generations to climate catastrophe. The speech was intended to set an urgent tone as governments sit down…

St. Louis Post-Dispatch

Editorial: GOP hopes inflation will help them win. So they should say how they'd fix it

Recent polls show, as they often tend to, that Americans trust Republicans more than Democrats on economic issues — this despite decades of evidence that GOP economic stewardship has been worse for all but the richest Americans and more prone to increase the deficit. The political mileage the party is…

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Tribune News Service

Explore these 5 budget-friendly road trips across the Carolinas this fall and winter

CHARLOTTE, N.C. — Fall is here and winter will arrive in North Carolina soon after, bringing colder temperatures and heralding the arrival of the busy holiday season. And after a year of headlines about inflation and high gas prices, it’s expected to be an expensive travel season.

Evening Standard

Midterms: Joe Biden says election is an ‘inflection point’ that will define next 20 years

Democrats are braced for severe losses in Congress amid high inflation and other economic challenges

Manchester Evening News

"It’s like life is not worth living": Life on the streets where benefits are just not enough to live on

“It’s not living – it's existing"

The Guardian - US

‘A new political hellscape’: sweeping gains for Republicans could stifle Biden’s presidency

Momentum appears to be with Republicans capitalising on economic frustration as experts say party peaking at right time

The Independent UK

Asian stocks mostly rise as markets watch China, inflation

Asian stocks have advanced as investors weigh uncertainties such as the U.S. mid-term elections and China’s possible moves to ease coronavirus restrictions

The Conversation

Fighting inflation doesn’t directly cause unemployment – but that's still the most likely outcome

You may have seen the news: in its attempts to tackle inflation, the Reserve Bank is going to increase unemployment. The idea can even seem to come right from the mouths of experts, including the bank’s governor, Adrian Orr. Speaking recently to an industry conference, he said:

Bangkok Post

Govt hails lower prices of goods in markets

The prices of basic produce and meats have fallen, which shows inflation is slowing, according to Commerce Minister Jurin Laksanawisit.

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