Banks stick to rate hike predictions – as it happened This blog is now closed. The Guardian - AU · Jun 28, 2023
Inflation retreated in May to 5.6%, easing fears RBA will again raise interest rates Consumer price index fell in May from 6.5% in April showing further signs that the worst of inflation may be over The Guardian - AU · Jun 28, 2023
The Guardian view on pricing power: it’s about firms’ strength and profiteering Editorial: For the first time since Covid, businesses are most to blame for the UK’s high inflation rates. But ministers are doing little about it The Guardian - UK · Jun 27, 2023
Bank of England’s quantitative easing scheme let ‘inflation take root’ UK economy became reliant on cheap money due to the Bank’s actions, warns former permanent secretary to the Treasury The Guardian - UK · Jun 27, 2023
A recession indicator that predicted every downturn since 1969 started flashing months ago—and a Wall Street veteran warns it always works on a delay Megan Horneman, who worked at Deutsche Bank before moving to Verdence Capital, says many signals are pointing to an “unavoidable” recession later this year. Fortune · Jun 27, 2023
Inflation surprise as rate of price growth slows in May A softer-than-expected inflation number could be enough to keep interest rates on hold next week but the battle against rising prices is not over yet. AAP · Jun 27, 2023
Supermarket bosses reject calls for price caps and deny ‘grotesque profiteering’ Executives from four of Britain’s biggest grocers were quizzed over rising prices and whether they are using inflation as an excuse to boost their profits The Independent UK · Jun 27, 2023
Global policymakers mull inflation's last mile The hardest part of reining in prices still lies ahead. Axios · Jun 27, 2023
Keir Starmer refuses to commit to public sector pay rises It comes after Prime Minister Rishi Sunak warned he will not shy away from making decisions 'people may not like' to control inflation. Daily Record · Jun 27, 2023
Jerome Powell promised a housing market 'reset'. Is it actually happening? On Tuesday, U.S. house prices as tracked by Case-Shiller went negative on a year-over-year basis for the first time since 2012. However, it comes as month-over-month prices are rising again. Fortune · Jun 27, 2023
Is Rishi Sunak picking the right targets in his anti-inflation battle? After asking borrowers to hold their nerve, the prime minister now seems to be preparing to further squeeze public sector workers The Guardian - UK · Jun 27, 2023
Biden is eager to run on the economy — 'Bidenomics' — but voters have their doubts President Joe Biden is ready to take full political ownership of the U.S. economy -- a reflection of the White House belief that inflation is fading, job growth is solid and voters need to know about it The Independent UK · Jun 27, 2023
Mobile and broadband firms accused of fuelling UK ‘greedflation’ with major price hikes Government accused of being ‘asleep at the wheel’ after firms push through biggest round of price hikes since 1991 The Guardian - UK · Jun 27, 2023
Why are UK telecoms firms imposing inflation-busting bills? Exclusive: Ofcom is facing calls to intervene after companies pushed through prices rises of up to 17% this year The Guardian - UK · Jun 27, 2023
The Week · Jun 27, 2023 Is Rishi Sunak delivering on his five pledges? Early in the new year, seeking to reset and define his premiership, Rishi Sunak laid out five key “pledges” on which he asked voters to judge him come the next election.
Evening Standard · Jun 27, 2023 Boots adds to trend for higher high street sales as UK grapples with sticky inflation ‘Everyday’ essentials range keeps the tills ringing even as interest rates rise
StockNews.com · Jun 27, 2023 Is PriceSmart (PSMT) a Better Buy than Walmart (WMT)? Retail sales grew sequentially in May as inflation continued to cool. With retail sales expected to grow between 4% and 6% this year, discount retailers Walmart (WMT) and PriceSmart (PSMT) stand to benefit. Let’s compare these two stocks to identify the better buy now….
The Guardian - UK · Jun 27, 2023 Corporate profits drove up prices last year, says ECB president Christine Lagarde says without a shift in corporate behaviour, interest rates will need to stay higher for longer
Daily Record · Jun 27, 2023 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.
The Independent UK · Jun 27, 2023 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.
Daily Mirror · Jun 27, 2023 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
The Independent UK · Jun 27, 2023 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 · Jun 27, 2023 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.
Liverpool Echo · Jun 27, 2023 Tesco, Sainsbury's, Morrisons and Asda forced to explain high food prices Prices are still rising while wholesale costs are dropping
The Independent UK · Jun 27, 2023 Pressure grows on supermarkets as soaring food prices ‘harm mental health’ Many people say their physical health has deteriorated because of high food prices