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The Latest Breaking News from Inflation

Bill Ackman Explains Why Inflation, Not Fed Rate Hike, Is Biggest Threat To US Economy

Billionaire hedge fund manager and CEO of Pershing Square Holdings Ltd. (OTC: PSHZF) Bill Ackman explained through a series of tweets that the biggest risk to the U.S.

Benzinga

Commentary: California workers urgently need an $18 minimum wage. The Legislature should act this year

Californians may have gotten temporary relief recently when gas prices finally fell to about $6 a gallon this month, down from as high as $8 per gallon in June in Los Angeles County. Inflation has rocked the economy, with prices soaring 9.1% in June.

Los Angeles Times

Universal Credit benefits to rise for millions in April as inflation surges ahead

Each April, all benefit payments are increased - with a 3.1 per cent increase in place for the current financial year

Wales Online

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Lloyds profits fall as it sets aside £377m for loan defaults over living costs

Hal-year results also reveal that customers are ditching subscription services in the face of rising inflation

Insider UK

Inflation is being amplified by firms with market power

The upsurge in inflation has revived old debates about what causes it.

The Conversation

McDonald's puts up price of a cheeseburger for first time in 14 years

Company said the cost of a number of items will go up by between 10p and 20p

Wales Online

Vibes about inflation, economy depend on how much you're earning

Along with income and wealth inequality, there's also mood inequality.

Axios

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Another big Fed rate hike is here to battle inflation. Economy hangs in balance

U.S. Federal Reserve raises rates for fourth time in 2022, this time by another three-quarters of a percentage point to battle inflation. It's at a size and pace we haven't seen since the 1980s.

WEKU

The Loop: Australia's inflation hits a 21-year high, the Ben Roberts-Smith trial comes to an end, and a man builds a Bluey ute

Get up to speed on today's headlines with The Loop.

ABC News

Unite Students eyes growth despite cost of living crisis as profits soar

The UK’s biggest university accommodation provider said its business model would offer protection from inflation but it was “not immune” from rising costs and interest rates

Birmingham Post

Lufthansa strike: More than 1,000 flights cancelled in Germany

Airline dismisses ground staff’s demands for above-inflation pay rise

The Independent UK

Exclusive: 57 South West companies go bust as rising inflation hits business

The figure is down from the same period in 2021, but the region's retail and services sectors have seen a surge in insolvencies - and greater than across the rest of the UK

Birmingham Post

McDonald's hikes menu prices as burger costs go up for first time in 14 years

Fast food chain McDonald's said it will have to put its prices up due to soaring inflation, with some of its menu increasing in cost for the first time since 2008

Daily Mirror

McDonald's will increase price of some menu items due to 'incredibly challenging times'

The cheeseburger will increase in price for the first time in 14 years

Manchester Evening News

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The Guardian - UK

Cost of living: McDonald’s, Kraft Heinz and Reckitt raise prices, as gas soars – as it happened

End of the 99p cheeseburger as fast food chain warns ‘we’re living through incredibly challenging times’

The Conversation

Inflation hasn't been higher for 32 years. What now?

Inflation jumped from 5.1% to a new long-term high of 6.1% in the June quarter, a rate matched only by short-lived jump caused by the introduction of the goods and services tax, and not exceeded since 1990.

The Guardian - UK

Lloyds lays bare impact of soaring inflation on everyday customers

Families spending on average £89 more a month on energy, food and fuel than before pandemic, says bank

The Guardian - AU

Cost of living 2022: see how inflation has changed prices in Australia in the June quarter – interactive

Use this data explorer to see which goods and services are getting cheaper or more expensive in different Australian cities

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The Independent UK

Asian stocks follow Wall St lower before likely US rate hike

Asian stock markets have followed Wall Street lower as traders prepare for a possible sharp interest rate hike by the Federal Reserve to cool inflation

Evening Standard

Conservative leadership race: Rishi Sunak accused of U-turn on tax cuts

The former chancellor unveiled a new ‘winter plan’ to tackle inflation and the cost-of-living crisis

The Independent UK

Inflation hits NYC's bodega favorite: Bacon, egg and cheese

The bacon, egg and cheese sandwich is a staple in many a New Yorker's diet

The New Daily

Treasurer warns inflation will only get worse after startling new price data

Treasurer Jim Chalmers has warned that Wednesday's alarming inflation figures and associated cost of living crisis will get worse before they get better.

Bangkok Post

Cost of data breaches hits an all-time high

Asean has seen the average cost of a data breach hit all-time high of US$2.87 million in 2022, up 8% from a year before, according to the latest report by American IT giant IBM, with the problem believed to be heaping pressure on already high inflation.

The Independent UK

Australia's rising inflation lifts risk of 4th rate hike

Australian inflation is rising farther, according to new data that increases the likelihood of the central bank next week hiking interest rates for a fourth consecutive month

AAP

WA unions warn government on inflation

An alliance of public sector unions in Western Australia could strike within weeks as the state's capital again recorded the nation's highest inflation rate.

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