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The Latest Breaking News from Inflation

A Tory U-turn on benefit cuts can’t reverse the colossal damage already done

A rise in line with inflation would be the bare minimum – Tory policies have been targeting Britain’s poorest people since 2010, says Guardian columnist Frances Ryan

The Guardian - UK

EXPLAINER: A huge jump in Social Security payments is coming

Tens of millions of older Americans are about to get what may be the biggest raise of their lifetimes

The Independent UK

Oil Falls as Strong Dollar and Recession Fears Weigh

Oil futures fell on Wednesday as a gloomy economic outlook and a strong dollar outweighed supply concerns stemming from last week's OPEC+ cut to its production target. Brent crude futures were down $1.42, or 1.5 %, at $92.87 a barrel by 1315 GMT. US West Texas Intermediate crude was down…

Asharq Al-Awsat

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'Desperation': Child care struggle worsens in rural U.S.

Across the United States, from Oregon to New York, demand for child care far exceeds supply

The Independent UK

Benefits will hit lowest level in 40 YEARS if Liz Truss's cut goes ahead

The Resolution Foundation said real-terms benefits could be at their lowest level since the early 1980s - as ex-Chancellor Sajid Javid said a cut wouldn't be 'social justice'

Daily Mirror

RBI to tell government why it failed to check inflation since January

NEW DELHI: With inflation staying above the upper tolerance limit for nine straight months, the Reserve Bank will now have to submit a report to the central government detailing reasons for the failure to contain prices and remedial steps to rein in the price rise.

The Times of India

What spiking US veterinary prices reveal about inflation

Most pets hate visiting the vet

The Independent UK

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Retail inflation rises to 7.41% in September; industrial sectors hit

September’s retail inflation level highest since April 2022

The Hindu

US producer price inflation eases to still-high 8.5%

Inflation at the wholesale level rose 8.5% in September from a year earlier, its third straight decline though it is still at a painfully high level

The Independent UK

4 Cathie Wood Stocks to Sell Now

Cathie Wood’s ETFs performed miserably this year amid a market rout caused by soaring inflation, the Fed’s aggressive rate hikes, and rising odds of a recession. More trouble awaits her hedge fund, concentrated in tech, as September job gains almost affirm another aggressive rate hike in the Fed’s next meeting.…

StockNews.com

Retail inflation jumps to 5-month high of 7.41% in September

NEW DELHI: Retail inflation based on consumer price index (CPI) surged to 5-month high of 7.41% in September, data released by the government showed on Wednesday.

The Times of India

Newcastle City Council blames multi-million pound overspend on inflation and staff wage increases

The projected overspend for the first part of the financial year was more than £6 million

Chronicle Live

Nasdaq, S&P Futures Surge Ahead of FOMC Minutes, September Inflation Prints — PepsiCo, Tech And Chinese Stocks In Focus

The major U.S. index futures are pointing to a higher opening on Wednesday after the mixed close in the previous session. Bargain hunting following six straight sessions of declines by the broader market could help offset some of the nervousness of traders ahead of two inflation reports.

Benzinga

State Pension Triple Lock rule to be implemented in ‘usual way’ until end of current Parliamentary term

Since 2010, the full annual amount of the basic State Pension has risen by over £2,300.

Daily Record

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The Guardian - US

‘It’s humiliating’: US voters struggle with hunger ahead of midterms

Economy in focus: Despite rising inflation and soaring grocery prices, food insecurity is a topic few politicians are addressing

The Hindu

Nirmala Sitharaman says budget to address growth, inflation concerns

Finance Minister Nirmala Sitharaman identified high energy prices among the biggest problems facing the Indian economy in the near future

The Independent UK

How do interest rates affect inflation?

Borrowing costs at their highest level in 14 years

Asharq Al-Awsat

IMF Confirms Saudi Economy’s Growth Forecast in Coming Years

The International Monetary Fund (IMF) confirmed its economic growth forecast for Saudi Arabia for the current year at 7.6 percent, the exact forecasts for July and April. Earlier, the Fund increased its expectations twice for the Saudi economy in 2022, making the Kingdom the only country among the G20 whose…

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news in one place.

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Zenger

What Does Prophetic Paul Tudor Jones Have To Say About Economic Future

Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession.

Tribune News Service

Commentary: What’s the plan for Republican-abandoned cities?

As a regular Fox News viewer, I’ve learned a few things about the coming midterm election. First, I’ve discovered pretty much everything is a “crisis” these days from the border crisis to the energy crisis to the Hunter Biden laptop crisis; that global inflation is solely the fault of Joe…

The Guardian - UK

UK richest family accused of ‘playing Scrooge’ over below real living wage workers’ pay

Exclusive: Company owned by Hinduja family refuses to offer workers inflation-matching pay rise

The Independent UK

Asian shares mixed ahead of inflation, earnings reports

Asian shares are mixed following another volatile day on Wall Street, as traders brace for updates on inflation and corporate earnings

The Times of India

India is doing better and in relative bright spot compared to others: IMF

WASHINGTON: When everyone is slowing down in terms of economic growth, India has not remained unimpacted, but is doing better and is in a relatively bright spot compared to other countries, a top International Monetary Fund (IMF) official said on Tuesday.

Tribune News Service

Top Republicans frame vote for Walker as vote against Biden

CARROLLTON, Ga. — U.S. Sen. Tom Cotton mocked Democrats for backing sweeping legislative packages that promise so much spending that “it would be an insult to drunken sailors.” U.S. Sen. Rick Scott pinned the blame for high inflation and “men destroying women’s sports” on Democrats.

The Times of India

Joe Biden admits 'very slight' US recession possibility

WASHINGTON: President Joe Biden said a recession in the US is possible but that any downturn would be “very slight” and that the US economy is resilient enough to ride out the turbulence.

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