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The Latest Breaking News from Inflation

Asian shares extend losses as specter of recession looms

Asian shares have fallen, with Chinese markets logging moderate losses after reopening from a weeklong holiday

The Independent UK

Nevada Senate race tests potency of abortion focus for Dems

Democrats predicted abortion would be Sen. Catherine Cortez Masto’s saving grace

The Independent UK

Truss tells Tory rebels she’s ‘ready to listen’ in row over benefits

Speculation grows PM is getting ready to give in to Cabinet pressure to increase benefits in line with inflation

The Independent UK

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Thousands of salaried Tesco workers forced to take real-terms pay cut

A 3% pay rise for team managers amid 10% inflation comes after a string of wage rises for hourly staff

The Guardian - UK

Economic uncertainty and high inflation cause South West business activity to fall

Companies reported increases in costs, as higher payments for energy, wages and raw materials pushed up expenses

Birmingham Post

Bumpy road to recovery

Even as Thailand continues on its path to economic recovery in the fourth quarter, buoyed by tourism and domestic consumption, businesses are still unnerved by pressing challenges, including high inflation, a weaker baht, surging energy prices and flooding, which could hamper the rebound.

Bangkok Post

'Poor must not pay the price for the Truss government's economic incompetence'

Liz Truss will be condemning 200,000 children to poverty if she fails to raise benefits in line with soaring inflation - a move made because she lost control of the UK's finances

Daily Mirror

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Liz Truss on verge of major U-turn on real-terms benefits cut

Exclusive: Tory MPs warn PM she would lose vote on increasing benefits only in line with earnings rather than inflation

The Guardian - UK

Biden preaches patience to voters spooked by economic tumult

When it comes to reassuring Americans about an economy that's an election-year challenge to his party, President Joe Biden is telling the country to hold on

The Independent UK

Central banks stay the course as markets grow increasingly nervous

Oil prices surge 13 percent after dramatic supply cut by oil producing nations, putting new pressure on inflation and interest rates.

Newsroom.co.nz

India will stand out with 7% growth rate in FY23 amid global gloom, says EAC-PM member Sanyal

New Delhi Amid fears of the world slipping into recession, India will perhaps emerge as the stronges

The Hindu

Cabinet to 'ambush' Liz Truss over benefit cut that'd put 200,000 kids in poverty

The PM is being warned she won't get the cut through as Tories plot with Labour in a civil war - and an ex-Sainsbury's boss warns the crisis is the worst since the 1970s

Daily Mirror

North East businesses weighed down by inflation and fears of recession

The NatWest North East Business Activity Index points to third consecutive contraction in region's private sector

Birmingham Post

Better than the bank: Where to find a greater rate of return

Banks are great for easy access to funds and short-term savings goals. However, to keep ahead of inflation you need to look at the long term.

The New Daily

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Asharq Al-Awsat

IMF Provides Highest Financing to Arab Countries in Decades

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), said that the world was going through a delicate stage due to successive shocks and uncertainty in the global economic system. He underlined the need for international cooperation to face challenges, especially with…

WEKU

The White House is turning to TikTok stars to take its message to a younger audience

A third of young people say they prefer to get their news on social media. The White House is having special briefings for influencers to get its message out to their massive audiences on TikTok.

WEKU

When your seatmate on the plane talks about the Fed, you know things aren't right

The woman next to me, who described herself as knowing "zero" about the economy, asked whether I thought the Federal Reserve would continue raising interest rates. I felt an acute sense of dread.

Tribune News Service

Why Saudi Arabia rebuffed Biden’s pleas for more oil

The U.S. has accused Saudi Arabia of siding with Russia after it led OPEC+ in a shock decision to slash crude output, keeping oil prices high at a time of global concern about inflation. The world’s largest oil exporter insists the decision was about economics, not politics.

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The Independent UK

‘Catastrophe’: Warning that benefits cut would plunge 200,000 more children into poverty

Liz Truss urged to abandon plan to fund tax cuts by increasing payments for poorest in line with wages rather than inflation

The Independent UK

Major German state holds election as difficult winter looms

A major German state is voting in an election that Chancellor Olaf Scholz’s center-left party hopes will bring some relief from poor recent nationwide poll showings as the country faces high inflation and worries about energy supplies this winter

The Guardian - UK

Poorest families would lose £400 a year under Liz Truss benefits plan

Linking with pay rather than inflation would leave households worse off – but ministers must get measure past their own MPs

Reuters

French Nobel literature winner, others urge protests against Macron as inflation bites

A group of French intellectuals including Nobel literature prize winner Annie Ernaux on Sunday urged people to join protests planned by the left for next week, accusing President Emmanuel Macron of not doing enough to help the poor cope with high prices while some companies make windfall profits.

AAP

Consumer behaviour to take centre stage

Households have been spending up a storm despite inflationary pressures, with new data expected to shed some light on consumer behaviour.

Daily Mirror

'Keir Starmer as PM would be the solution to real pay negotiations with nurses'

Nurses are now demanding a 5% rise above inflation to make up for the 6% they have lost over the last 10 years of Tory rule. They feel that industrial action is the only weapon left

Salon

How to stretch your food dollars

With food prices up an average of 11% from last year, grocery shoppers are feeling the pinch

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People

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