The Latest Breaking News from Inflation

How inflation made West Africa’s prized jollof rice a pricey meal

Inflation driven by economic instability, fallout from war in Ukraine and COVID have made jollof rice an expensive meal.

Al Jazeera · May 23, 2023

UK food price inflation at third-highest level since 2008

Jeremy Hunt to meet food manufacturers over prices as Kantar says rate is still ‘incredibly high’

The Guardian - UK · May 23, 2023

UK growth forecast upgraded by IMF; Bank of England governor says ‘big lessons to learn’ after inflation shock – as it happened

New IMF report shows “a big upgrade to the UK’s growth forecast” says Jeremy Hunt, with UK expected to grow by 0.4% this year not shrink by 0.3%

The Guardian - UK · May 23, 2023

Coles and Woolworths food prices rise by 9.6 per cent in past year, outpacing inflation rate

Analysis by investment bank UBS finds food prices at Australia's major supermarket chains have risen at a faster rate than inflation.

ABC News · May 23, 2023

‘Dear Jay’: Jefferies strategist writes an apology letter template for all the ‘haters’ who doubt the Fed chair and his inflation fight

Jefferies’s David Zervos says Jerome Powell’s critics are nothing more than “Armageddonistas” who are “in desperate need of a fresh beatdown.”

Fortune · May 22, 2023

More Americans struggling with their finances, Fed survey shows

Increasing numbers of Americans say they are struggling with their finances, according to a new Federal Reserve report revealing the toll that inflation has taken on U.S. households over the past year.

Tribune News Service · May 22, 2023

Stocks See Support from Strength in Mega-Cap Tech Stocks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.07%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.41%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.27%. U.S. stocks this morning are mixed, with the Nasdaq...

Barchart · May 22, 2023

How big a deal is US and Australian cooperation on climate and energy?

Joe Biden and Anthony Albanese have flagged a joint push to boost action on the two issues but at this stage much of the work is yet to be fleshed out

The Guardian - AU · May 22, 2023

Inflation-hit households ‘typically needed £5,455 extra over past two years’

Households should not be afraid to reach out and ask for help, according to interactive investor, which made the calculations.

The Independent UK · May 22, 2023

Average UK household has lost £5,455 to inflation over past two years, research finds

The UK’s inflation rate has been stuck above 10% for each of the last seven months

Evening Standard · May 22, 2023