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The Latest Breaking News from Inflation

Powell signals more pain to come with Fed sending rates higher

Federal Reserve Chair Jerome Powell vowed officials would crush inflation after they raised interest rates by 75 basis points for a third straight time and signaled even more aggressive hikes ahead than investors had expected.

Tribune News Service

Fed delivers third-straight big hike, sees more increases ahead

Federal Reserve officials raised interest rates by 75 basis points for the third consecutive time and forecast they would reach 4.6% in 2023, stepping up their fight to curb inflation that’s persisted near the highest levels since the 1980s.

Tribune News Service

Fed raises interest rate by 0.75 percentage points as US seeks to rein in inflation

Third outsized rate increase in a row as central bank struggles to fight runaway inflation, increasing the cost of everything

The Guardian - US

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Fed raises rates 0.75 percentage points, signals more to come

New forecasts show the central bank envisions a weaker economy in the coming years.

Axios

Workers did not cause Australia’s inflation woes. But they will be the ones who sacrifice the most

The Reserve Bank governor’s recipe for avoiding sustained inflation is for real wages to fall for three years in a row

The Guardian - AU

3 Stocks to Buy Now That Offer Steady and Reliable Income

Rising inflation and lingering recession concerns have necessitated the need to add a defensive layer to one’s portfolio. Therefore, it could be wise to invest in fundamentally strong dividend-paying stocks PepsiCo (PEP), Costco Wholesale Corp. (COST), and Comcast Corp. (CMCSA) to generate a steady and reliable income stream. Read on….

StockNews.com

3 Stocks to Avoid as Inflation Grows More Persistent

Inflation is growing more persistent and entrenched than expected. And the Fed’s aggressive rate hikes to tame inflation are raising the possibility of a recession. Hence it might be best to avoid fundamentally weak stocks, Royal Caribbean Cruises (RCL), Unity Software (U), and Bed Bath & Beyond (BBBY) now. Read…

StockNews.com

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Mexican president to meet with food companies for measures to tame inflation

Mexican President Andres Manuel Lopez Obrador said on Wednesday he will meet with food producers and distributors to discuss measures to tame inflation.

Reuters

Milk at Co-op, Sainsbury's and Morrisons now costs more than petrol

Inflation has led to price rises for stacks of important items

Nottingham Post

Rents Aren't Showing Signs Of Cooling Just Yet, But This Data Shows When They Might

Last week, mortgage rates increased alongside hotter-than-anticipated inflation data, surpassing 6% for the first time since late 2008.

Benzinga

Federal Reserve hikes US rates by 0.75% for third straight meeting

Bank of England in the spotlight after US central bank stops short of super-sized 1% hike

Evening Standard

UK households face £3bn hit if Bank goes ahead with 0.75-points rate rise

Hike in interest rates would be the biggest in 33 years and would heap renewed pressure on borrowers

The Guardian - UK

Stamp duty cut will benefit UK’s wealthier and raise inflation, say experts

Government warned measure would create housing bubble that does little to benefit first-time buyers

The Guardian - UK

Bread increases by 18 percent across EU as impact of war in Ukraine hits prices

The price of bread rose by almost a fifth in the European Union in August as Russia's invasion of Ukraine, both major exporters of grains and fertilisers, continued to disrupt global markets and headline inflation accelerated.

Radio France Internationale

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The New Daily

Superannuation slips in August, but overall returns are strong

Super returns slipped slightly in August as international share and money markets turned volatile but overall returns are strong.

The Hindu

Recession unlikely to hit India due to 'not so coupled' nature with global economy: Rating agency S&P

Paul F. Gruenwald, S&P global chief economist, said a lot depends on how global fund flows behave if there is a recession in the U.S. and Europe.

Reuters

Sri Lanka inflation rate surges to 70.2% in August

Consumer inflation in Sri Lanka accelerated to 70.2% in August, the statistics department said on Wednesday, as the island nation reels under its worst economic crisis in decades.

The Times of India

Explainer: What if US economy goes into recession? How it may impact India

NEW DELHI: The US Federal Reserve is expected to lift interest rates by three-quarters of a percentage point for a third straight time on Wednesday and signal how much further and how fast borrowing costs may need to rise to tame a potentially corrosive outbreak of inflation.

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The Guardian - US

We need to be told the true climate cost of Schumer and Manchin’s pipeline side deal

Democrats hailed the Inflation Reduction Act as a climate crisis victory – so why the secrecy over an oil and gas pipelines bill?

Salon

Can Larry Summers please shut up now?

Former Harvard president has been playing inflation Cassandra on TV for months. Can we hear other views?

The Independent UK

Cost of living: How to cope with the rise in prices

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all

Asharq Al-Awsat

Egypt's Central Bank Expected to Raise Interest Rates by 100 Basis Points

Experts and economists agreed that the Central Bank of Egypt (CBE) will raise interest rates during its meeting on Thursday but did not agree on the rate hike. A Reuters poll forecasted that the central bank will raise its overnight deposit rate by 100 basis points (bps) as it tries…

WEKU

Fed orders another super-sized interest rate hike as it battles stubborn inflation

The Federal Reserve raised interest rates by another 0.75 percentage points today, as it tries to control runaway prices. The central bank also signaled that additional rate hikes are likely.

Evening Standard

Pendragon’s average used car price up by almost a third but inflation hits profit

Cost of the average second-hand car rises 32% to almost £19,000 amid shortage of new vehicles

Daily Record

Stirling foster carers call for payments review amid cost of living crisis

“The fees and allowances are now acutely vulnerable to the impact of inflation."

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Andres Manuel Lopez Obrador

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