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The Latest Breaking News from Inflation

State pension to surpass £10,000 a year for first time as inflation soars

Triple lock policy means pensioners will see their incomes partially protected while workers earnings collapse at a record rate

The Independent UK

Turkey lowers interest rate even as inflation soars to 80%

Turkey’s central bank has lowered its key interest rate despite inflation surging to nearly 80% and making it difficult for people to buy what they need

The Independent UK

Australian stock exchange continues rebound despite messy jobs data and inflation fears

There was no stopping the ASX200 this week as it traded to a 10-week high supported by better-than-expected earnings, including a thumping result from BHP.

The New Daily

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Cost of living calculator: Find out how much your bills are rising in price

To help you work out how the cost of living crisis is affecting you, The Mirror has created a new calculator to break it all down - from your energy bills to your mortgage

Daily Mirror

Universal Credit and state pension could rise by hundreds - how much you could get

High inflation is hitting Brits in the pocket, but for those on benefits and the state pension it could end up meaning they get a big increase to their payments in 2023

Daily Mirror

Democratic boot camp: party intensifies local tactics ahead of midterms

Democratic groups are training candidates up and down the ballot in the hopes that a successful voter turnout will help limit losses this fall

The Guardian - US

Climate change is a secret driver of inflation

Extreme weather is taking a toll on people, crops and infrastructure.

Axios

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Marshalls revenue climbs despite ‘less certain’ economic times

Landscape supplies business will continue to stem inflation through management of supply chain

Evening Standard

Inflation makes recovery from California fires and other disasters more difficult

Extreme weather events made worse by climate change are hitting some of the poorest parts of the United States hard. Recovery will be extra difficult at a time of high inflation.

WEKU

New poll gives Liz Truss 32-point lead in Tory leadership race – as it happened

YouGov survey suggests 66% of party members will vote for the foreign secretary over Rishi Sunak

The Guardian - UK

Unions on brink of ‘synchronised’ strikes, says RMT’s Mick Lynch

Railway workers leader predicts ‘massive response’ to impact of rapidly rising inflation on wages

The Guardian - UK

Philippine central bank delivers big rate hike

MANILA: The Philippine central bank on Thursday delivered another large interest-rate increase and signalled it has space to raise borrowing costs further to tackle broadening price pressures.

Bangkok Post

Tory leadership contests should be run faster, minister says

James Cleverly ‘happy if process was over more quickly’, as poll shows Liz Truss has big lead over Rishi Sunak

The Guardian - UK

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

The cost of a pint is about to skyrocket

Liverpool Echo

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Tribune News Service

Commentary: The deceptive marketing of the 'Inflation Reduction Act'

The so-called Inflation Reduction Act is one of the greatest examples of deceptive marketing around today. Not only will the legislation fail to reduce inflation, it will further increase prices.

Los Angeles Times

LZ Granderson: Is the U.S. a mighty power? Trump's fall is a decision point

Last week the Biden administration announced what would be included in the 18th package of security aid from the U.S. to Ukraine. Worth $1 billion, it represents "the largest single drawdown of the U.S. arms and equipment to date," according to Colin Kahl, the undersecretary of Defense for policy. That…

Wales Online

Ex-soldier dad of three explains stark choices his family makes as prices spiral

Harry says he had no idea how they will afford new uniforms ahead of the start of school in September. He says they don't have a single spare penny

The Independent UK

Asian stocks follow Wall St down after Fed inflation report

Asian stock markets have followed Wall Street lower after the Federal Reserve said U.S. inflation is too high, suggesting support for more aggressive interest rate hikes

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Birmingham Post

Free help for Dorset firms amid rising inflation and labour shortages

The special programme has been launched by Dorset Chamber and county’s Local Enterprise Partnership

Birmingham Post

Cost of living crisis: 'It is crucial the government takes action to support businesses'

Firms are now facing "myriad issues" including soaring energy bills caused by rising inflation, according to South West chamber of commerce Business West

Wales Online

Tory rivals warned tax cuts could worsen pressures on public spending

Truss defiant as Sunak seizes on stark IFS report to attack her economic plans

The Independent UK

What the papers say – August 18

Britain being hit by the worst inflation crisis since 1982 and the stabbing death of an elderly man lead the mastheads.

Pedestrian.tv

New ABS Data Has Shown Just How Fkd Wages Are Compared To Inflation So Let’s Dive Right In

Wages compared to inflation are very bad according to new data and in the past year our ability to buy things fell the most on record.

Benzinga

Bitcoin, Ethereum, Dogecoin Drop As FOMC Meeting Restores Worries: Analyst Warns We Could Be In For A 'Big Dump'

Top cryptocurrencies declined Wednesday evening as the global cryptocurrency market cap fell 2.4% to $1.1 trillion.

The Independent UK

Republican senator tells constituents he supports $35 insulin cap, days after voting against it

Chuck Grassley voted against Inflation Reduction Act, which caps Medicare patients’ out-of-pocket costs, as well as an amendment to lower insulin costs for other patients

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