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The Latest Breaking News from Inflation

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

The Guardian - AU

IRS increases 401(k), IRA contribution limits for inflation

The IRS is raising contribution limits to retirement plans, including 401(k) and IRAs, by a record 9.8% for 2023.

Axios

LOCALIZE IT: How to tell inflation story for your audiences

EDITORS/NEWS DIRECTORS:

The Independent UK

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Inflation higher for longer: Treasury

Inflation is going to hang around for longer due to persistently high energy prices and floods in southeast Australia, Treasury forecasts say.

AAP

Despite fears of another major interest rate hike by the Fed in response to the stubborn inflation data for September, stocks such as Microsoft (MSFT) and Biogen (BIIB) have shown remarkable stability. Hence, it may be the right time to invest in them for market-beating returns. Keep reading.

StockNews.com

These 2 Stocks Are Proven Long-Term Winners

Inflation is far from the Fed’s target, which might induce it to deliver more rate hikes in the coming months, increasing the likelihood of a recession. Amid this, we think investors should consider buying fundamentally sound stocks, Coca-Cola (KO) and United Parcel Services (UPS), which are proven long-term winners and…

StockNews.com

Tesco hikes price of meal deal due to rising costs amid soaring inflation

The meal deal – which comprises a sandwich, snack and drink – had sat at £3 for the past 10 years

Evening Standard

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Tesco puts price of a meal deal up for the first time in over a decade

TESCO has put the price of a meal deal up for the first time in over a decade, with the change set to come into force in days.

The National (Scotland)

When are the midterm elections?

Bipartisan researchers list main issues as economy, inflation, abortion rights and fighting gun violence

The Independent UK

Floods drive up fruit and veg prices, while energy costs will prolong high inflation

Fruit and vegetable prices are expected to be 8% higher than they would have been over the December and March quarters as a result of the floods, according to budget figures released by Treasurer Jim Chalmers.

The Conversation

Keir Starmer can't say whether he supports nurses' pay demands

KEIR Starmer appeared to be unable to back nurses’ demands for better pay despite his leadership campaign promising to “work shoulder to…

The National (Scotland)

Martin Schram: A little inflation help from the other side

President Joe Biden and his designated message-deliverers just got some crucial, last-minute insights — from a most unlikely source — Wednesday night. It made clear how they should be talking about the only issue that almost half of Americans say they really care about in this all-over-the-lot midterm campaign.

Tribune News Service

Even Halloween candy can't hide from inflation

Here's how much the price of popular Halloween candies went up this year

Axios

GOP is bad on abortion — and inflation

Republicans have no ideas on how to fix the economy — and what they are planning will only make things worse

Salon

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The Guardian - UK

DIY chain Wickes says its energy costs could rise by 75% in 2023

Retailer reports third-quarter sales growth but warns of uncertain outlook and £7.5m hike in energy bill

Glasgow Live

DWP Universal Credit claimants with children could lose £1,000 per year

People with children claiming Universal Credit from the Department for Work and Pensions could lose up to £1,000 per year according to think tank The Resolution Foundation

Liverpool Echo

DWP could give extra £325 Cost of Living payments under new plan

Campaigners also want all benefit payments to be increased in line with inflation

Evening Standard

Wickes says falling timber prices ease price inflation at DIY chain

But energy costs are set to rise at the Watford-based chain when its current supply contracts ends in March

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The Independent UK

Asian shares mostly fall as investors watch for inflation

Asian shares are mostly lower in muted trading as investors eye inflation and await the outcome of a Communist Party congress in China

Daily Record

'Concerned' café owner warns coffee prices will jump amid cost of living crisis

The cost of a flat white coffee is likely to top £4 for the first time, as inflation returns to a 40-year high.

ABC News

Widespread floods will force inflation above 8 per cent for fruit and vegetables, treasurer says

Federal Treasurer Jim Chalmers says widespread flooding across some of Australia's most productive agricultural land will push up the prices of fresh produce.

Reuters

Australia floods to dent Dec-qtr GDP, spur inflation - Treasurer

Widespread floods that have inundated large parts of Australia's southeast will dent the country's economic growth and increase inflation, Treasurer Jim Chalmers said on Friday, ahead of next week's federal budget.

Los Angeles Times

With another prime minister gone, what's next for an already diminished Britain?

LONDON — Double-digit inflation. A weakened British pound that's hovered at near-parity with the dollar. Soaring energy costs. The death of a revered monarch.

Tribune News Service

Inflation and the housing market: What you can do as prices spike

Inflation isn’t done with the American public yet.

Irish Mirror

Those working minimum wage jobs not able to 'even maintain a basic standard of living'

The Living Wage Technical Group blasted the Government and said workers on low pay are not protected from inflation

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People

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