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The Latest Breaking News from Inflation

IMF cuts India’s FY 2022-23 growth forecast to 6.8%

The Fund cites Ukraine war, record-high inflation and effects of pandemic as key reasons; it expects inflation in the country to return to the tolerance band in the fiscal year 2023-24

The Hindu

DWP Universal Credit claimants in Scotland could be '£290 worse off' next year

Households in Scotland claiming Universal Credit could be almost £300 worse off in real terms next year if the UK Government does not commit to increasing the benefit in line with inflation

Edinburgh Live

How Universal Credit cut would affect your payments as 8,000 hit in Liz Truss's seat

Liz Truss is still weighing up whether to raise benefits by earnings instead of inflation - which would be a real-terms cut. We've crunched the latest numbers on how it could affect you in April 2022

Daily Mirror

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Long-awaiting new leisure centre shelved due to budget cuts and spiralling inflation

The £20m building has been put on the back burner as the council faces a £16m budget shortfall

Manchester Evening News

IMF cuts 2023 global growth, warns major economies to stall

Global growth is expected to slow further next year, the International Monetary Fund (IMF) said Tuesday, downgrading its forecasts as countries grapple with the fallout from Russia's invasion of Ukraine, spiralling cost-of-living and economic downturns.

Bangkok Post

IMF dims outlook for 2023 global economy amid Ukraine war

The International Monetary Fund is downgrading its outlook for the world economy for 2023, citing a long list of threats that include Russia’s war against Ukraine, chronic inflation pressures, punishing interest rates and the lingering consequences of the global pandemic

The Independent UK

IMF criticises Kwarteng again over tax cuts and energy package

Fund says chancellor’s measures have made Bank of England’s battle against inflation more difficult

The Guardian - UK

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IMF tells central banks to focus on inflation as recession looms

Fund says ‘worst yet to come’ because of rising living costs, Ukraine war and Chinese slowdown

The Guardian - UK

UK petrol prices rise after Opec decides to cut oil production

Fuel price increase is blow to drivers amid soaring domestic energy costs and other inflation

The Guardian - UK

Scots families on Universal Credit could be '£290 worse off' if Liz Truss doesn't uplift benefit

The UK Government is under pressure from its own MPs to ensure Universal Credit is increased in-line with inflation.

Daily Record

Teaching union to ballot members over possible strike action

Children's education is suffering because relatively low pay and conditions means schools cannot fill vacancies and retain teachers, warned UCAC

Wales Online

'Food is now an increasingly pressing concern' Food inflation predicted to almost DOUBLE

Families are already struggling due to the sharp rise in everyday items

Chronicle Live

Shoppers turn to wonky fruit and veg to cut bills as food prices rise

According to a new study, people are now paying an average of £643 more on groceries than last year as inflation has soared

Chronicle Live

Commentary: Here’s how companies can strong-arm their suppliers into cutting carbon emissions

The Inflation Reduction Act is both the most important federal climate legislation ever and sadly inadequate to protect the U.S. and the world from the effects of climate change. Where it falls short, states could intervene with tougher regulations — but many won’t. That leaves corporations, which can pressure their…

Los Angeles Times

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The Conversation

Inflation: why France is holding up better than its neighbours (for now)

The combination of the Covid pandemic and energy crisis linked to the Ukraine war have put global financial stability in an unenviable position. Faced with rising uncertainty, policy-makers around the world have imposed a range of policies and restrictions. These, in turn, have rocked businesses and supply chains, causing the…

Tribune News Service

Editorial: Biden's marijuana pardons are a good step, but more is needed

For a president in his late 70s, Joe Biden has been surprisingly forward-looking in many of his policy priorities, including the climate change-combating Inflation Reduction Act and action on the student debt crisis.

Asharq Al-Awsat

Egypt's Inflation Rate Rises to Near Four-Year High

Egypt’s annual urban consumer inflation rose to 15% in September, its highest in four years, data from the country’s statistics agency CAPMAS showed on Monday. Inflation increased to 15% year-on-year from 14.6% in August, according to CAPMAS data. This was the highest since November 2018, when it hit 15.7%. The…

Daily Mirror

Brits face paying extra £643 in the supermarkets as food inflation hits record high

Grocery inflation shot up to 13.9% over the 12 weeks to 2 October, according to researchers at Kantar - the highest it has been since the company began tracking prices during the 2008 financial crash

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Liverpool Echo

Exact number of Port of Liverpool jobs now at risk

Peel Ports has said Unite 'continues to make unrealistic and unsustainable above-inflation pay demands'

The Independent UK

What does inflation mean for you?

Cost of living crisis continues to bite as energy bills, fuel and food prices climb

The Guardian - UK

UK unemployment falls but number of long-term sick rises to record high

Jobless level lowest since 1974 but pay growth still failing to keep pace with soaring inflation

Reuters

Germany will discuss US inflation act with Washington - Scholz

Germany will discuss the United States' Inflation Reduction Act with Washington to address competition concerns, German Chancellor Olaf Scholz said on Tuesday.

The Guardian - UK

Britons buy more ‘wonky’ veg and frozen food as living costs soar

Supermarket price inflation at record high, adding £643 a year to average family’s grocery bill

Asharq Al-Awsat

Asian Markets Swing on Recession Fears as Inflation Data Looms

Most markets fluctuated in Asian trade Tuesday as traders grow increasingly fearful that more big interest rate hikes will tip economies into deep recessions, with the mood also darkened by the worsening Ukraine war and worries over China's outlook. With the focus on inflation, analysts said consumer price index data…

Evening Standard

Food price inflation hits record highs adding £643 to annual shopping bills

Shoppers are turning to cheaper alternatives, such as wonky fruit and veg, to save money

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