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The Latest Breaking News from Inflation

Democrats launch major effort to sell Inflation Reduction Act to voters

IRVINE, Calif. — Democratic lawmakers, members of President Joe Biden’s Cabinet, and allied organizers and activists are kicking off a multipronged public relations campaign aimed at ensuring voters understand — and appreciate the benefits of — the $700-billion climate-change and drug-prices bill that Biden signed Tuesday.

Los Angeles Times

Democrats Attempt To Boost Midterm Fortunes by Pitching Inflation Reduction Bill That Won't Reduce Inflation

Plus: Federal judge halts part of Florida's Stop WOKE speech law, streaming services overtake cable, and more...

Reason

Americans should focus on Biden’s accomplishments, says chief of staff – as it happened

Ron Klain argues president has made a historic impact and that focus shouldn’t be on inflation or Afghanistan withdrawal

The Guardian - US

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3 Stocks Hitting the Panic Button Right Now

The market is expected to remain under pressure with inflation still far higher than the Fed’s target level, consecutive rate hikes, and rising geopolitical issues. Given the increasing odds of a recession, fundamentally weak stocks, DraftKings (DKNG), Carvana (CVNA), and Flux Power (FLUX) are hitting the panic button now. Thus,…

StockNews.com

Here are some signs that inflation is calming down

Lately, products that posted some of the most notable price surges last year have seen slumping prices.

Axios

3 Overrated Stocks to Avoid This Fall

Though inflation has declined slightly from the multi-decade high level, the Federal Reserve’s intention to keep raising interest rates until price increases return to its target level could keep the stock market under pressure in the near term. Therefore, we think it could be wise to avoid fundamentally weak stocks…

StockNews.com

The Week Ahead: Looking for a price peak in the past to figure out the future of interest rates

The Federal Reserve consistently says its actions are data dependent. “Data dependence is, and always has been, at the heart of policymaking at the Federal Reserve,” Fed Chairman Jerome Powell said in a 2019 speech.

Miami Herald

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Beer warning as price of pint could rise to £9 as inflation hits hight

Restaurants, takeaways, clubs and hotels could also see a spike in prices.

Daily Record

Armed ... auditors? The IRS becomes the latest target of GOP misinformation

Some Republicans have spread false information about how new funds will be used by IRS, stoking outrage and alarming experts

The Guardian - US

Chancellor Nadhim Zahawi admits rocketing inflation is hitting Britain’s public finances

Chancellor Nadhim Zahawi admitted on Friday that soaring inflation is hitting Britain’s public finances with debt interest payments up by more than £2 billion.

Evening Standard

Egypt Central Bank Holds Rates Steady After Change of Governor

The Central Bank of Egypt (CBE) kept its overnight interest rates steady on Thursday, hours after a new governor was named to replace Tarek Amer, who quit on Wednesday. President Abdel Fattah al-Sisi appointed Hassan Abdalla as caretaker CBE governor on Thursday after Amer's resignation. Analysts said the CBE may…

Asharq Al-Awsat

How inflation is influencing politics in a bellwether Florida county

Voters in a key swing county in Florida are grappling with some of the highest inflation rates in the country. But it's not necessarily the deciding factor for some voters.

WEKU

Zimbabweans hit by soaring inflation: Will gold coins help?

Rising prices and a fast depreciating currency have pushed many in Zimbabwe to the brink, reminding people of when the southern African country faced world-record inflation of 5 billion% in 2008

The Independent UK

2023 warning to pubgoers who drink pints of beer

"The cost of both raw materials and goods leaving factories continued to rise"

Nottingham Post

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The Independent UK

Inflation fuels jump in government debt costs as borrowing hits £4.9bn

Borrowing for July significantly ahead of predictions of analysts

Manchester Evening News

Four-month warning issued to anybody who drinks pints of beer

The stark warning came as inflation to 10.1% on Wednesday

The Conversation

Big new incentives for clean energy aren't enough – the Inflation Reduction Act was just the first step, now the hard work begins

The new Inflation Reduction Act is stuffed with subsidies for everything from electric vehicles to heat pumps, and incentives for just about every form of clean energy. But pouring money into technology is just one step toward solving the climate change problem.

Birmingham Post

The perfect storm battering the UK economy

From inflation to the war in Ukraine the economy is facing major challenges

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The Guardian - UK

Retail sales in Great Britain rise despite cost of living crisis

July rise of 0.3% driven by online promotions but clothing sales continue to fall

Asharq Al-Awsat

Asian Markets Drift as Investors Assess Fed Outlook

Stocks swung in Asia on Friday as investors tried to assess the Federal Reserve's plans for lifting interest rates to fight inflation, with mixed data and differing opinions by bank officials providing little clarity. The rally across markets from their June lows appears to have run out of steam this…

Foreign Affairs

America Rejoins the Climate Fight

New legislation will reshape policy—and U.S. diplomacy.

Reuters

Strikes bring London's transport network to a halt

London's transport network ground to a halt on Friday as train and bus workers held strikes over pay and conditions, the latest in a summer of labour market disputes as double-digit inflation eats into wages.

Chronicle Live

North East councils face 'unprecedented and unavoidable' cash problems as cost of living crisis deepens

Local authorities in the North East could face deficits totalling tens of millions of pounds as they grapple with inflation and escalating energy bills

The Conversation

Inflationary psychology could make things worse, but for now it's in check

With the world experiencing inflation levels not seen since the 1980s, central banks are caught between warning of the dangers of an 1970s-style inflationary spiral, and contributing to that spiral by talking about it.

Benzinga

Alibaba, Other Hong Kong Stocks Show Optimism In Early Trade Even As Analysts Downgrade China Growth Projections

Hong Kong’s Hang Seng index opened in the green on Friday, gaining 0.12% in opening trade, following a muted session on Wall Street. Investors also digested macro news from Japan where the headline inflation rose to 2.6% in July as compared to 2.4% in June.

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