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The Latest Breaking News from Inflation

UK shoppers switch to budget ranges as grocery price inflation hits record high

Discounters Aldi and Lidl benefit as figures reveal annual cost of grocery shop has soared by £682

The Guardian - UK

Bank of England’s chief economist warns of more interest rate rises to come

Huw Pill warns we ‘cannot declare victory’ yet against inflation

The Independent UK

Control of US Senate may hinge on Georgia run-off election

The Georgia Senate race goes to a run-off on December 6 after neither Republican Herschel Walker nor Democratic Senator Raphael Warnock garnered more than 50 percent of the vote. Republicans were favoured to win control of the House going into the midterms but key races in both chambers remain too…

France 24

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More interest rates rises to come, warns Bank of England economist

Huw Pill, chief economist at the Bank of England, said we ‘cannot declare victory’ yet against inflation.

The Independent UK

OAPs ‘at forefront’ as Sunak mulls raising pensions and benefits with inflation

The move would likely usher in deeper public spending cuts elsewhere and higher tax rises.

The Independent UK

Merseyside areas to be hardest hit as food bills rise by £682

Food bills set to rise by £682 a year as grocery price inflation hits record 14.7%

Liverpool Echo

Autumn Statement: What to expect from Jeremy Hunt on tax rises, NI and cuts

We take a look at the facts so far and ask finance experts on what is likely to be announced.

Birmingham Post

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Your food shop could increase by almost £700 a year as grocery inflation reaches record high

It comes as figures reveal double the amount of people are struggling financially compared to this time last year

Manchester Evening News

Shoppers face £682 jump in food bills as grocery price inflation hits record high

New research revealed that inflation at supermarkets is at 14.7% - and there is 'no peak in sight' for rising food prices

Chronicle Live

Primark owner expects £2bn inflation hit amid weak consumer backdrop

ABF warns of ‘challenging’ market but no further price rises planned for coming months at Primark

The Guardian - UK

Annual supermarket bill to rise by £682 as food inflation hits new record

Sales of own-label products have jumped by a further 10.3 per cent over the past four weeks

The Independent UK

Food bills set to rise by £682 a year as grocery price inflation hits record 14.7%

Market analysts at Kantar say grocery price inflation has hit a record 14.7% - adding £682 to the average annual supermarket bill as the cost of living crisis continues

Daily Mirror

Grocery price inflation hits record 14.7% with ‘no peak in sight’

Consumers face a £682 jump in their annual grocery bill if they continue to buy the same items, according to data insights firm Kantar

Evening Standard

UK grocery inflation hits 14.7%; recession looms as housing market weakens – as it happened

UK households face £682 rise in annual grocery bill as prices soar, and there’s ‘no peak in sight’

The Guardian - UK

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The Independent UK

Asian markets mixed ahead of US elections, inflation data

Asian stocks are mixed ahead of the U.S. midterm elections with trading likely to stay bumpy in a week that brings new inflation data and other events that could shake markets

The Conversation

In defence of RBA Governor Philip Lowe: an easy scapegoat for record interest rate rises

Reserve Bank Governor Philip Lowe is getting terrible press, most of it undeserved.

The National (Scotland)

Benefits should rise in line with inflation, Holyrood committee says

A HOLYROOD committee has called on the Scottish Government to increase benefits in line with inflation.

The News Lens

Developing Asia Adapts to the Dollar’s Strength

A strong U.S. dollar will likely continue for the near future. Asian economies need to prepare for a rough 2023.

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Wales Online

Universal Credit and DWP pension inflation rise being considered by Rishi Sunak

The move could cost a combined £11 billion next year and could ward off a Tory MP rebellion

Daily Mirror

Universal Credit and state pension ‘to rise 10.1%’ as Rishi Sunak could bow to pressure

Rishi Sunak looks set to bow to pressure to raise pensions and Universal Credit in line with inflation in next week's Autumn Statement, which is likely to include tax hikes and massive public spending cuts

The Independent UK

Sunak considering raising state pensions and benefits with inflation

The PM is considering stealth tax raids, including on inheritance tax.

Evening Standard

Foodservice Price Index shows inflation nearing 20 per cent amid storm of cost pressures

The hospitality industry is being put under further pressure with inflation in food and drink prices reaching record high, latest research suggests.

WEKU

Inflation is top issue in this week's midterms

Rising prices are a top concern for voters in this year's midterm elections, outpacing abortion, crime and defending democracy. Prices in September were up 8.2% from a year ago.

Fortune

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.

Bangkok Post

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.

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