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The Latest Breaking News from Inflation

Jamie Dimon says Americans are spending all their money because of inflation—and that could tip the U.S. into a recession next year

The U.S. economy has been resilient this year despite the Federal Reserve’s aggressive interest rate hikes and high inflation, but JPMorgan Chase CEO Jamie Dimon warns “storm clouds” are still on the horizon.

Fortune

Michael Pascoe: RBA on the precipice of its second big mistake

The RBA needs to chill to find out what it has actually done, Michael Pascoe writes.

The New Daily

Socceroos can take on the football world's elite - with some help

The sport needs the support and backing at government level like other countries around the world who see football as a means of projecting national pride.

Newcastle Herald

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Here’s how much ‘The 12 Days of Christmas’ gifts would cost in 2022

Inflation is increasing the cost of everything from gold rings to Lords-A-Leaping.

Fortune

Is Macy’s Stock a Smart Buy This Holiday Season?

Leading retailer Macy’s, Inc. (M) surpassed its EPS and revenue estimates in the last reported quarter. However, the company witnessed declining sales and earnings. Also, considering the sky-high inflation and the Fed’s aggressive monetary policy, will M be a smart buy this holiday season? Continue reading to find out.

StockNews.com

The 4 Best Holiday Stocks to Buy Before It's Too Late

Despite economic uncertainties, retail sales have remained resilient lately. Since the Fed is expected to slow the rate hikes with inflation showing signs of cooling down, holiday sales are expected to be strong. Therefore, it could be wise to pick up fundamentally strong retail stocks Walmart Inc. (WMT), The Hershey…

StockNews.com

How much more your Christmas dinner could cost you this year

Rising inflation means Brits are paying more for food now than they were last year

Manchester Evening News

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Rationing may be used to tame inflation predicts ‘outrageous’ City expert

Saxo Bank’s ‘outrageous predictions’ have been right in the past, forseeing Brexit, and it is also points to a second referendum next year

Evening Standard

Fitch retains India growth forecast at 7% for this fiscal

NEW DELHI: Fitch Ratings on Tuesday retained India's economic growth forecast at 7 per cent for the current fiscal, but cut projections for the next two financial years saying the country is not impervious to global developments.

The Times of India

Sainsbury's shoppers to notice change to prices next year

It comes after inflation bounced to a 41-year-high of 11.1% in October

Liverpool Echo

Robinhood launches retirement waitlist for first ever IRA with a 1% match

With more workers joining the gig economy and inflation reaching record-breaking levels, Robinhood is giving more Americans the push they need to start saving for retirement.

Fortune

Explained: Why World Bank upgraded India's economic forecast for FY23

NEW DELHI: The World Bank on Tuesday revised upwards its GDP growth forecast from 6.5% for India to 6.9% for 2022-23, saying the country was showing higher resilience to global shocks.

The Times of India

Thousands of ambulance workers and NHS staff to walk out on strike

Hundreds of troops are on stand-by to cover for ambulance crews, firefighters and Border Force staff as ministers prepare for a wave of strikes across public services in the run-up to Christmas

Wales Online

Mongolians clash with police in protest against inflation and graft

Mongolian protesters clashed with police as they tried to storm parliament after thousands gathered in freezing temperatures to demonstrate against soaring inflation and government corruption.

Reuters

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The New Daily

All eyes on Christmas as Reserve Bank mulls even higher interest rates in 2023

RBA Governor Philip Lowe unveiled an eighth interest rates hike at the bank's final meeting of 2022 on Tuesday.

The Independent UK

Cost of Christmas dinner soars by nearly 10% in a year

Groceries still 14.6% more expensive than one year ago but down from last month’s 14.7%

The Guardian - US

Service workers left in the lurch as Americans cut back on tipping

With lockdowns over and inflation rising, tips are shrinking in industries that depend on them – from gig work to restaurants

The Guardian - UK

UK households will spend 10% more on Christmas dinner, research finds

Kantar finds families will spend average of £31 despite grocery price inflation slowing for first time in 21 months

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Chicago Tribune

Commentary: Inflation is bad, but it could worsen if the US dollar weakens

The U.S. dollar is near its highest level in more than a decade. A strong U.S. dollar has many benefits to consumers. When traveling abroad, goods and services cost less in U.S. dollars, making foreign destinations attractive vacation options for many. Domestically, imported items also cost less in U.S. dollars,…

The Independent UK

Cost of Christmas dinner up 9.3% despite grocery price inflation finally dipping

Groceries are still 14.6% more expensive than a year ago but this is down from last month’s 14.7%, according to Kantar.

The Guardian - UK

Goldman CEO warns of ‘bumpy times’ ahead and recession risk – as it happened

David Solomon says central banks may not succeed in a ‘soft landing’ as they raise interest rates to fight inflation

The Independent UK

Asian shares lower as strong data hit hopes for dovish Fed

Stocks are mostly lower in Asia after Wall Street pulled back as surprisingly strong economic reports highlighted the difficulty of the Federal Reserve’s fight against inflation

The Guardian - UK

If it’s unions against these infantile ministers, I know who will win

The UK government’s amateur grandstanding will end in a humiliating climbdown, says Guardian columnist Polly Toynbee

The Conversation

This latest increase in RBA interest rates might well be the last, for some time

You might not know it from reading Tuesday’s statement announcing Australia’s eighth consecutive increase in interest rates, but our Reserve Bank might finally have done enough.

The Guardian - UK

‘I’m in crisis every day’: prices outpace Belgians’ inflation-matched pay

Even in a country with automatic increases to pay and benefits, there are concerns over the cost of living

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