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The Latest Breaking News from Inflation

Inflation 'out of control' as cost of everyday food items soars by up to 65%

Inflation is at a 40-year high leaving many Scots struggling to make ends meet.

Daily Record

Protesters interrupt Ted Cruz's interview on 'The View'

The protesters repeatedly yelled, "Vote for climate now!" while Cruz spoke about inflation in the United States.

WEKU

This is a federal budget of no surprises – designed to be sober, to build trust in the hope of better things to come

Labor’s 2022 budget is about a new government starting as it means to continue, then crossing its fingers and hoping continuing like that is actually possible

The Guardian - AU

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Federal budget 2022: Jim Chalmers heralds budget of ‘restraint’ while warning of risks ahead for households

Treasurer flags need for tax reform to put economy on more sustainable path and further intervention in energy sector amid soaring prices

The Guardian - AU

Jim Chalmers’ 2022-23 budget mantra: whatever you do, don’t fuel inflation

Terrified by the prospect of further stoking the worst inflation in three decades, Treasurer Jim Chalmers and Finance Minister Katy Gallagher have delivered a budget that takes out of the economy about as much as it pumps into it.

The Conversation

What does the federal budget deliver for business? Child care, skills and tax the centrepieces

Addressing skills shortages is the government's key budget focus to assist business, with tax stings in store for some multinationals, cash-in-hand businesses and investors.

ABC News

Federal budget 2022: Winners and Losers

It's the second federal budget of the year, but this time Treasurer Jim Chalmers is delivering Labor's first in close to a decade. Here's where it plans to spend its money and where it wants to rein things in.

ABC News

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Australians in for tough financial times as federal budget forecasts declining real wages and high living costs

Australians are facing a bleak couple of years, with Treasury forecasting dual woes of sustained high living costs and declining real wages. The budget bottom line has improved but Treasurer Jim Chalmers is warning of tough decisions in coming months.

ABC News

Two years to go before wages rise

The gloomy state of the economy will weigh on household budgets with a boost to real wages not expected until at least mid-2025.

AAP

Price of ‘budget’ food soars as cost of cheapest pasta skyrockets by 60%

Price of the cheapest tea, biscuits and chips also rose by more than 30 per cent

The Independent UK

Ramesh Ponnuru: Democrats are focusing on the wrong issues

A political party has a problem when voters think it has the wrong answers to their most important questions. It has a bigger problem when voters think it isn’t even focusing on those questions. Democrats have put themselves in that position, and it may cost them dearly in next month’s…

Tribune News Service

Allison Schrager: Biden hasn’t helped the economy. He’s made it worse

To President Joe Biden’s credit, his policies didn’t cause many of the economic problems we face today. But they did make them worse. Even more troubling, his policies might reduce growth in the future and make the economy less equal and resilient.

Tribune News Service

Full list of 30 biggest food price rises from pasta to oil - with some items up 65%

New data from the Office for National Statistics (ONS) shows the price of vegetable oil has risen 65% in a year, with pasta up 60% as well - as the cost of living crisis continues

Daily Mirror

Whitbread warns of £60m increase in costs due to inflation

Premier Inn and restaurant chains owner reports profit bounceback to pre-Covid levels

The Guardian - UK

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Evening Standard

Price of ‘budget’ food soars as cost of living bites

The cost of budget pasta and vegetable oil have risen by almost two thirds over the past year as millions of households face a growing squeeze on their household budgets.

The Guardian - UK

‘Everything’s gone up’: soaring inflation hits Malawi’s market trade

Farmers, entrepreneurs and sellers are struggling as rises in fuel and fertiliser prices make it harder to cover costs

Wales Online

What Rishi Sunak is likely to announce on benefits and energy bills

Mr Sunak vowed to increase benefits in line with inflation and scrap VAT on energy bills - but that was before the economy collapsed

The Guardian - UK

NHS hospital trusts paying hundreds of millions in interest to private firms

Exclusive: Guardian analysis of hospital trust accounts found 101 owe about £50bn in future unitary PFI payments

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Liverpool Echo

DWP benefits including Universal Credit and ESA could be hit with 'permanent cut'

Chancellor Jeremy Hunt is set to unveil a Medium-Term fiscal Plan on October 31

The Independent UK

Australia to reveal economic plan for deteriorating outlook

Australia’s new government will propose an economic plan to steer the nation through rising inflation and interest rates while reigning in debt

Bangkok Post

Higher Interest Rates Can Take a Long Time to Bring Down Inflation

The world's central banks face a nail-biting wait.

Bangkok Post

Sentiment among Bangkok housing developers brightens

Sentiment among listed housing developers in Greater Bangkok improved in the third quarter to the highest level in 17 quarters, but higher development costs because of fuel prices and inflation remain major concerns.

Manchester Evening News

PM Rishi Sunak could be good news for people on Universal Credit and other DWP benefits

As chancellor, Rishi Sunak pledged to uprate benefits in line with inflation - something Liz Truss would not commit to

The Guardian - US

Climate protesters interrupt Ted Cruz’s appearance on The View

The Texas US senator was talking about inflation when demonstrators started to chant and ABC turned off the audio

Evening Standard

Angela Rayner says Rishi Sunak's premiership is a 'continuation' of Tory problems

Labour's deputy leader said Rishi Sunak's premiership represented a 'continuation' of the problems faced by the Government after a turbulent few weeks under Liz Truss.Angela Rayner said the Conservatives could not "just keep doling out prime ministers every month because they're in total chaos", and added Mr Sunak had "failed…

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