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The Latest Breaking News from Inflation

Thousands protest against PM Orban's government, "runaway inflation"

Thousands of Hungarians including teachers and students marched through Budapest on Sunday to protest against the government, demanding higher wages for teachers and a curb on surging inflation that is eroding incomes.

Reuters

Labor’s ‘rorts and waste’ audit to deliver $10bn in savings to federal budget

Government will also shuffle funds and axe Coalition projects to free up $11bn for their own policy priorities

The Guardian - AU

Penny Mordaunt refuses to reveal basic things she'll do as PM in cringey TV interview

The third-placed candidate for Prime Minister - who seems unlikely to get 100 nominations by the 2pm Monday deadline - couldn't even say if she'd still raise benefits with inflation

Daily Mirror

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Economy moves to front for Democrats trying to hold on in key midterm races

From hardscrabble mining communities to affluent New Jersey suburbs, GOP attacks on the economy are forcing Democratic House candidates in must-win Northeast districts to confront an issue that has bedeviled them.

Tribune News Service

Australia's growth downgraded and inflation drives massive rise in cost of pensions and payments in budget

Tuesday’s budget will point to a slowing Australian economy, with growth forecasts cut, and contain more than $21 billion of savings and decisions to redirect spending.

The Conversation

Former Bank of England chief warns of ‘higher taxes for the average person’

Lord King of Lothbury outlined the challenge for the next prime minister to confront high inflation.

Evening Standard

Democrats need to address economic fears now – or risk losing their majorities

Until Democrats tell it like it is, their electoral majorities will continue to be fragile

The Guardian - US

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Former allies, Patty Murray and Tiffany Smiley face off for US Senate

SEATTLE — Sen. Patty Murray was locked in her office in the U.S. Capitol on Jan. 6 when she said she decided to run for a sixth term. If she wins she would be among the longest serving senators in U.S. history.

Tribune News Service

Australia will join Biden’s global pledge to cut methane emissions by 30% by 2030, Albanese confirms

Funding of more than $3bn will support agricultural methane reduction, clean tech initiatives and the commercialisation of seaweed feed supplement

The Guardian - AU

Inflation, budget on watchlist this week

The latest consumer price index figures are set to be released after the federal budget is handed down on Tuesday.

AAP

Political toss-up: Luria, Kiggans are ‘deadlocked,’ poll finds

NORFOLK, Va. — A little more than two weeks before Election Day, one of Virginia’s most closely watched races is in a deadlock.

Tribune News Service

Treasurer Jim Chalmers reveals workers' pay will go backwards until 2024-25 ahead of federal budget announcement

Treasurer Jim Chalmers reveals workers' pay will effectively go backwards until 2024-25.

ABC News

Pelosi says ‘kitchen table’ issues should be focus of Democrats

House Speaker Nancy Pelosi advised Democratic candidates to focus on “kitchen table” issues and reducing inflation as her party heads into the final two weeks before the Nov. 8 midterm elections.

Tribune News Service

Schools crippled by cost of living crisis as teachers unscrewing light bulbs to cut bills

Schools in England face a cash catastrophe driven by surging energy bills, rising inflation and unfunded pay deals. The Sunday People can reveal nine out of 10 will have run out of money by the next school year

Daily Mirror

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Tribune News Service

Fed lines up another big hike while mulling eventual downshift

Federal Reserve officials are preparing to roll out another supersized interest-rate increase in early November, when they will also likely debate tactics for completing the most aggressive tightening cycle in four decades.

AAP

Gloomy backdrop for first Albanese budget

The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.

The Independent UK

Biden juggling long list of issues to please Dem coalition

With Election Day fast approaching, President Joe Biden is hoping to counter Republican momentum and he's trying to be everything to everyone

The Guardian - US

Ilhan Omar on the critical issues of the midterm elections: ‘People understand what’s at stake’

From abortion rights to climate action, the Minnesota congresswoman outlines the work ahead for Democrats

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Daily Mirror

UK economic outlook downgraded to 'negative' amid chaos after Liz Truss resignation

The ratings agency Moody's says the downturn is due to the political instability and high inflation in the aftermath of PM Liz Truss' resignation in a report published last night

The Independent UK

Inflation protests across Europe threaten political turmoil

Across Europe, soaring inflation is behind a wave of protests and strikes that underscores growing discontent with the spiraling cost of living and threatens to unleash political turmoil

The Philadelphia Inquirer

Two polls show Republicans pulling ahead nationwide. What that could mean for Pa.’s top races.

PHILADELPHIA — National political trends are shifting in Republicans’ favor as inflation assumes an even more dominant position in voters’ minds, according to two recent polls — a potentially significant development for key Pennsylvania races that could be decided by just a few percentage points.

Bangkok Post

Domestic tourist spending still tepid

Local tourism this year has been marked by a higher volume of short trips, with inflation and flooding affecting average spending per person, according to the Tourism Authority of Thailand (TAT).

Bangkok Post

Equities move lower but SET outlook still good

RECAP: Asian and European stocks moved lower yesterday, as US Treasury yields held at the highest level since the global financial crisis of 2008 and investors weighed risks to Chinese markets.

StockNews.com

Fade the Friday Rally

Bull markets do not go straight up. There are plenty of down days, weeks and even months for the S&P 500 (SPY) added into the mix. Conversely bear markets do not go straight down. In fact, they have some pretty sizeable rallies that come along the way often clouding the…

The Guardian - AU

Federal budget: no tax break for low- and middle-income workers as economic outlook worsens

Inflation set to peak higher than expected so workers earning less than $126,000 will not get a tax break, worth up to $1,500, beyond 2022

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