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The Latest Breaking News from Inflation

Making EVs without China's supply chain is hard, but not impossible – 3 supply chain experts outline a strategy

Two electrifying moves in recent weeks have the potential to ignite electric vehicle demand in the United States. First, Congress passed the Inflation Reduction Act, expanding federal tax rebates for EV purchases. Then California approved rules to ban the sale of new gasoline-powered cars by 2035.

The Conversation

India's GDP grows at 13.5% in Q1 of FY23

NEW DELHI: The gross domestic product (GDP) for first quarter ended June 30 came in at 13.5%, data released by the government showed on Wednesday.

The Times of India

Pressure mounts on ECB for a more aggressive rate hike as inflation hits record 9.1%

Rate-setting meeting is due next week for the shared currency area

Evening Standard

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Millions of tenants could save £300 under plan to cap rent - but not everyone will benefit

The Goverment has unveiled plans to limit how much social tenants pay in rent, but rent campaigners say the scheme leaves private renters open to massive increases in their housing bills

Daily Mirror

Labour leader Keir Starmer claims even people on £50k will struggle with energy bills

Sir Keir claimed his plans for universal help would help bring inflation down

Liverpool Echo

States tapping historic surpluses for tax cuts and rebates

State governments flush with money are returning billions of dollars to their residents

The Independent UK

Ten money changes coming in September including £326 cost of living payment

We’ve rounded up ten financial updates to expect in September, as Brits prepare for a tough winter with the energy price cap confirmed to rise to £3,549 in October

Daily Mirror

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Inflation hits 9.1% in countries using euro currency

Inflation in the European countries using the euro currency hit another record in August, fueled by soaring energy prices mainly driven by Russia’s war in Ukraine

The Independent UK

Inflation pushes average cost of filling Panini 2022 World Cup sticker album to £870

Five-sticker packs for football tournament in Qatar are 12.5% more than for Russia 2018

The Guardian - UK

Ryanair boss issues grim fares warning amid soaring inflation pressures

He claimed some airlines could struggle to survive because of inflation caused by rising costs of fuel and energy

Wales Online

Slovak prime minister seeks deal to keep government together as economy minister resigns

Slovak Prime Minister Eduard Heger sought to defuse a coalition row threatening his government's parliamentary majority on Wednesday by offering to replace his finance minister if parliament passed measures to protect the public from inflation.

Reuters

Why the war in Ukraine is leading to delays repairing potholes

Spiralling energy costs and inflation has also added to the issue

Manchester Evening News

Editorial: ‘They will freeze or they will starve’ brings UK energy crisis home

Readers of Scotland on Sunday got one heck of a jolt when they opened their morning newspaper this weekend. The front page article focused on the massive increase in energy costs being faced in Britain and the especially catastrophic effect on anyone living in rural areas in the far north…

Chicago Tribune

Pound heads for worst month since 2016 against US dollar; eurozone inflation hits record high – as it happened

Pound and UK government bonds have suffered a torrid month, as Rishi Sunak warns of risk that markets lose faith in UK economy

The Guardian - UK

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Chronicle Live

Sainsbury's to invest £65 million into prices next month in bid to tackle inflation

The leading supermarket are concentrating on their Price Lock campaign, which will freeze the cost of an abundance of its most popular products.

Evening Standard

FTSE 100 Live: Pound under pressure as Brent crude falls below $100 a barrel

US stock markets made a positive start after positive jobs data and as oil prices eased back, while pressure mounts on the European Central Bank to take tough action on interest rates after a record for eurozone’s consumer price index.

Reuters

Britain's rail network hit by fresh round of strikes

British rail staff at two train unions are planning a new round of nationwide strike action on Sept. 15 and 26 over pay, job security and conditions, the latest in a wave of industrial unrest as inflation outpaces pay rises.

The Independent UK

Sainsbury’s to invest £65m into prices next month to offset inflation pressure

Simon Roberts, chief executive of the supermarket chain, promised the brand will stand with its customers ‘to ease the financial pressure they face’.

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Newcastle Herald

Council rate review to deal with 'volatile economy'

"We're now in a more challenging, volatile economy, and we need to have an improvement to it."

Wales Online

Food prices expected to continue rapid rise for at least next six months

Shop price annual inflation has surged to its highest level for more than a decade

Birmingham Post

Almost 150 Hinckley & Rugby Building Society staff get cost-of-living bonus

CEO Colin Fyfe: 'As inflation continues to rise, we recognise that our staff too are feeling the pinch'

Wales Online

UK turns to credit cards as cost of living crisis hits

Inflation and imminent energy price rises to blame for move

StockNews.com

Are Bears Ready to Push Stocks Back to June Lows?

The recent 18% rally for the S&P 500 (SPY) was a flight of fancy. Fed Chairman Powell made sure that message was heard loud and clear from the mountain tops in Jackson Hole. This sets up for an interesting fork in the road where dropping back down the June lows…

The Guardian - UK

UK food price inflation hits highest level since global financial crash

Prices in shops rose by 5.1% in August, British Retail Consortium finds, as the war in Ukraine pushes up prices up for farmers

The Conversation

Feeling that fiscal drag? Why you could be worse off even if your pay has gone up

Tax has again become an election issue, more than 12 months before voters go to the polls. Part of the current debate centres around tax brackets and whether the current cut-off points are fair.

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