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The Latest Breaking News from Inflation

'Shameless PM and Chancellor forced into 45p U-turn by public backlash'

Savage cuts to key public services, benefits losing value by rising below inflation and expensive extra borrowing are also on the way

Daily Mirror

Murray Watt says the government is providing the largest cost-of-living increase to welfare recipients in 30 years. Is that correct?

Cabinet minister Murray Watt says the government is providing the largest cost-of-living increase to welfare recipients in 30 years. RMIT ABC Fact Check investigates.

ABC News

Inflation Keeps U.S. From Stepping In to Slow Dollar's Rapid Rise

U.S. policy makers aren't likely to take action to slow the dollar's rapid rise despite rising risks of global financial turmoil, analysts say, largely because a strong greenback helps fight domestic inflation.

Bangkok Post

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Here's what was happening in Australia the last time the cash rate rose this quickly

The rapid increase in interest rates feels all too sudden for borrowers, but it's not the first time this has happened. Here's how events played out almost 30 years ago.

ABC News

Chancellor under pressure to back benefits increase

Kwasi Kwarteng has refused to confirm whether benefits will be uprated in line with inflation.

The Independent UK

UN accuses richest countries of ‘imprudent gamble’ in inflation fight

Report says policies of high interest rates and austerity risk triggering global recession that will hit developing nations hardest

The Guardian - UK

Global food crisis: Famine in Somalia 'on the horizon', ONE Campaign warns

The Covid-19 pandemic, the war in Ukraine, runaway inflation and climate change are all fuelling a global food security crisis. Gayle E. Smith is the chief executive officer of the ONE Campaign, an NGO co-founded by the singer Bono. She spoke to FRANCE 24 about fighting extreme poverty in the…

France 24

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Liz Truss' failed bid to become a 21st-Century Margaret Thatcher

In 1981 Thatcher took the drastic but successful step of increasing taxes by 2% of GDP to tackle interest rates and inflation. But Truss has just done a reverse-Thatcher, says Oliver Hartwich

Newsroom.co.nz

Pound recovers but remains at low levels – how to assess the long-term value of sterling

The pound has recovered from a recent record dip after the chancellor’s mini-budget announcement. But it is still at low levels versus many other currencies.

The Conversation

Tory public service cuts of £18bn to pile MORE pressure on Scottish budget

FRESH plans for a new wave of Tory austerity will deliver a “hammerblow” to struggling households and put further pressure on Scotland’s…

The National (Scotland)

2 Stocks to Add to Your Must-Buy List in Q4

After a disappointing third-quarter performance, investors should brace themselves for an enhanced market uncertainty in the fourth quarter amid the Fed’s persistent rate hikes to tame stubborn inflation and growing recession fears. Hence, we think it could be wise to add resilient and dividend-yielding stocks Johnson & Johnson (JNJ) and…

StockNews.com

Solemn 'no cuts' promise Liz Truss made 3 months ago - that she's now set to break

This morning Chancellor Kwasi Kwarteng refused to rule out a return to Tory austerity after a humiliating tax U-turn - but in July Liz Truss unequivocally told The Mirror that her plans would not involve slashing services

Daily Mirror

2 Green Energy Stocks That Have Lost Their Value in 2022

The green energy industry is expected to grow significantly in the coming years, thanks to sustained demand for renewable energy amid rising climate concerns worldwide, technological advancements, and increasing government and corporate investments. However, input price inflation, supply chain disruptions, and broader market jitters have adversely impacted many fundamentally weak…

StockNews.com

Tory Esther McVey warns Liz Truss slashing benefits will be a 'huge mistake'

The former Work and Pensions Secretary joined the chorus against Liz Truss warning 'it cannot be that the books are balanced on the back of benefits. That is not right at all'

Daily Mirror

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The Independent UK

Chancellor again declines to say if benefits will rise in line with inflation

It comes as the Government U-turned on plans to cut the top rate of income tax for the highest earners.

The Independent UK

Record inflation squeezes Turkish tobacco workers, owners

Tobacco growers in southeast Turkey's Celikhan district are feeling the pinch as annual inflation reaches a new 24-year high

Irish Mirror

Expert outlines Christmas 2023 trends including more focused presents, gatherings and extended festivities

Inflation and the rising cost of living are likely to result in people avoiding unnecessary gifting this Christmas

Birmingham Post

Macroeconomic stability vital for Welsh firms' investment plans

Policies unlocking sustainable growth and productivity without stoking inflation are no longer optional, but essential

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The National (Scotland)

Chancellor confirms cuts of up to £18bn for public services amid economic turmoil

CHANCELLOR Kwasi Kwarteng has confirmed that public services face further cuts of up to £18 billion per year.

Wales Online

The strikes and industrial action that could hit schools and universities in Wales

Staff are angry over below inflation pay offers as the cost of living bites

Tribune News Service

Americans have recession fatigue — and it’s keeping them from preparing for the next downturn

When Pasha Grozdov found out his friend’s Manhattan landlord was raising the rent on her one-bedroom apartment from $4,100 to a crushing $6,000 a month, there was only one way he could think to react: with a joke.

Asharq Al-Awsat

Türkiye’s Annual Inflation Hits New 24-Year High at 83.45%

Türkiye’s annual inflation reached a new 24-year high of 83.45% in September, according to official data on Monday, pushing the cost of essential goods higher and further hitting households already facing high energy, food and housing costs. The Turkish Statistical Institute said consumer prices rose by 3.08% from the previous…

Daily Record

State Pension to increase in line with inflation next April but other DWP benefits still to be confirmed

DWP boss Chloe Smith will make a determination on the benefit uprating this autumn.

Evening Standard

£14 pints? Pubs say they’ll call orders long before then — but vow to battle on

Soaring energy prices, runaway inflation and the cost of living crisis pose a life-or-death threat to hospitality businesses, especially in London. Publicans and restaurateurs say they have little choice but to dramatically raise prices — so, asks David Ellis, what can be done to help them?

The Conversation

Kenya’s new finance minister has good credentials but he can't work miracles

President William Ruto has nominated Njuguna Ndung'u to head Kenya’s National Treasury. A Central Bank of Kenya governor for eight years between 2007 and 2015, Ndung'u is also an accomplished researcher and a University of Nairobi academic. He has extensive expertise in macroeconomics (inflation, economic growth, national income and unemployment)…

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