The Latest Breaking News from Inflation

Does raising interest rates help inflation and how does this affect mortgages?

THE average mortgage rate for a two-year fixed deal has risen to a figure that has not been seen since the market reeled from Liz Truss’s…

The National (Scotland) · Jun 20, 2023

US charitable donations fell to $499 billion in 2022 as stocks slumped and inflation surged

Charitable giving in the U.S. fell to US$499 billion in 2022, as donors dealt with their losses in the stock market and coped with 40-year high inflation rates.

The Conversation · Jun 20, 2023

Chancellor to meet lenders later this week over mortgage rates crunch

Jeremy Hunt told the House of Commons he would be asking what flexibilities might be possible.

The Independent UK · Jun 20, 2023

Stocks Set to Open Lower as Investors Await Powell Testimony, China’s Rate Cut Disappoints

September S&P 500 futures (ESU23) are down -0.48%, and September Nasdaq 100 E-Mini futures (NQU23) are down -0.53% this morning as concerns over the Chinese economy weighed on risk appetite, while investors looked ahead to testimony from Federal Reserve Chair Jerome Powell for more cues on the U.S. central bank’s…

Barchart · Jun 20, 2023

Record inflation has hit even Lebanon's garbage. 'Trash just isn't like it used to be'

BEIRUT — Rolling to a stop on his overladen scooter, Shaher Hassan awkwardly balanced five bags and a carton full of cans, plastic bottles and other recyclables mined from the trash that day.

Los Angeles Times · Jun 20, 2023

Grocery price inflation falls to lowest monthly rate this year - but still remains high

Inflation dropped to 16.5% for the four weeks to June 11, according to Kantar - this is down from 17.2% the previous month and a further decline from the record 17.5% recorded in March

Daily Mirror · Jun 20, 2023

Inflation forces supermarkets to up £1 items to £1.25, data shows

Kantar survey is released day before official figures expected to show a slight easing in UK inflation rate

The Guardian - UK · Jun 20, 2023

Hunt rules out mortgage support or food price caps; Mortgage ticking time bomb is ‘now exploding’ – as it happened

Jeremy Hunt faces calls to introduce mortgage interest tax relielf from Conservative MPs at Treasury Questions, and rules out price caps on food

The Guardian - UK · Jun 20, 2023

Deadly tragedy off the coast of Greece exposes how human traffickers are exploiting Pakistan's economic meltdown

Pakistan is experiencing a confluence of crises attributed to a decline in governance standards. Security challenges, chiefly posed by terrorism, have exacerbated the country’s economic deterioration, which in turn has given rise to energy shortages, rampant unemployment and soaring inflation rates.

The Conversation · Jun 20, 2023

Ending Nigeria's fuel subsidy pushes a shift to solar. Without a climate plan, progress is at risk

Nigeria's removal of a subsidy that helped reduce the price of gasoline has increased costs for people already struggling with high inflation

The Independent UK · Jun 20, 2023