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The Latest Breaking News from Inflation

Pause benefit deductions in face of cost of living crisis MPs demand

A powerful Commons committee has called on the DWP to 'pause' the automatic clawback of benefit overpayments which leaves families struggling with rising bills.

Daily Record

Short-term wage growth unlikely: Chalmers

Jim Chalmers says wages are unlikely to keep up with rising inflation in the short term, as global factors impact on the economy and federal budget.

AAP

Alibaba, Nio Fall Over 3% As Hang Seng Tracks Weaker Wall Street Close: All Eyes Now On Aussie Inflation Data

Shares of Alibaba, Nio and Li Auto lost more than 3% on Wednesday morning with the Hong Kong’s benchmark index Hang Seng falling over 1%, ahead of the release of Australia’s inflation report.

Benzinga

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Inflation equals post-GST high with CPI rising 6.1 per cent, but perhaps 'moving past the peak'

Inflation jumps to equal the level seen after the introduction of the goods and services tax, but economists say there are early signs it is "moving past the peak".

ABC News

Australia’s inflation rate reaches 6.1% – the fastest annual increase in 21 years

Australians are paying more for food and fuel, according to data released on Wednesday by the Australian Bureau of Statistics

The Guardian - AU

Inflation hits 21-year high of 6.1 per cent

Inflation 55.5 per cent over the June quarter as higher petrol and grocery bills continue to squeeze households, new official data reveals.

The New Daily

Inflation updates: Annual figures hit 6.1 per cent, Anthony Albanese faces first Question Time as PM — as it happened

Anthony Albanese has fronted up to his first Question Time as Prime Minister as new inflation figures showed consumer prices are rising faster than wages — as it happened.

ABC News

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Pause automatic benefit deductions to ease cost-of-living crisis, MPs urge

Deductions pushing some households into ‘destitution’, MPs says

The Independent UK

Rising production costs lead to 4.4% rise in UK shop prices

Fresh food inflation at 8% after increases in fertiliser, animal feed and transport

The Guardian - UK

Benefit deductions should be stopped until inflation falls, say MPs

Committee calls for ‘breathing space’ for millions whose universal credit is docked to repay advances, debts or overpayments

The Guardian - UK

Pause deductions from benefits to help tackle cost of living crisis, say MPs

Work and Pensions Committee says the clawbacks should only be restored when inflation reduces or if benefits are increased to reflect the cost of living

Wales Online

Pause deductions to benefits to give ‘breathing space’ on cost of living – MPs

Automatic payments taken out of people’s benefits should be halted as claimants battle soaring costs, the Work and Pensions Committee said.

The Independent UK

Benefit deductions forcing cash-strapped families to food banks, report finds

A report by the Commons Work and Pensions Committee called on the Government to pause automatic payments until soaring inflation is back under control

Daily Mirror

IMF downgrades 'gloomy' economy as inflation and rate jitters continue, but ASX trades up

The Australian share market has ended the day at a 20 day high, despite new inflation data showing that shows price hikes are at their highest level in more than 20 years.

ABC News

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The Guardian - AU

Marion Scrymgour calls for ‘grog-free days’ in Northern Territory towns – as it happened

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The Independent UK

Sunak pledges to cut VAT on energy bills under ‘winter plan’

The move is part of the former chancellor’s “winter plan” to tackle inflation and the cost-of-living emergency.

Bangkok Post

Cabinet okays B27.4bn subsidies to help poor

The cabinet on Tuesday approved additional economic assistance measures worth 27.4 billion baht, including an extension of the "Khon La Khrueng" co-payment scheme to help alleviate the hardship of people affected by higher costs of living amid high inflation.

ABC News

The Loop: Trump's back in Washington, how high will inflation go today, and a crashing end to TV debate

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StockNews.com

4 Business Services Stocks to Buy Amid Escalating Economic Headwinds

The International Monetary Fund recently cut its global growth projections for this year and the next amid the deteriorating macro backdrop with the relentless rise in inflation and the geopolitical war. However, despite the economic uncertainties, we think business services stocks Civeo (CVEO), ARC Document (ARC), TriNet Group (TNET), and…

ABC News

Turkey launched an unusual experiment to fight inflation by cutting interest rates. This is how it spectacularly backfired

While many countries around the world are jacking up interest rates in an attempt to curb inflation, Turkey is trying an unorthodox approach: Its central bank is refusing to touch them.

Benzinga

Palantir Stock Is Showing Signs Of Life

Enterprise and government data analytics services provider Palantir Technologies (NASDAQ: PLTR) stock has plummeted nearly (-46%) in 2022. According to its CEO Alex Karp, Palantir thrives in both good and bad times. He claims they predicted inflation and built the Company to had free cash flow, not just growth.

StockNews.com

5 Stocks You'll Want in Your Corner if a Recession Hits

Growing fears over a potential recession due to high inflation and the Federal Reserve’s aggressive interest rate hikes should keep the stock market highly volatile in the upcoming months. However, investors could consider buying relatively stable and dividend-paying stocks Procter & Gamble (PG), AbbVie (ABBV), Abbott (ABT), Caterpillar (CAT), and…

Benzinga

Understanding How Stablecoins Have Fared In The Crypto Bear Phase

Cryptocurrencies have long been considered a hedge against inflation and a better alternative to fiat currencies that are susceptible to devaluation concerns. Most cryptocurrencies have significantly underperformed benchmark stock market indices due to liquidity pressures brought about by the tightening of monetary policy by leading central banks such as the U.S.…

AAP

Annual inflation rise is 'confronting'

Inflation rose 1.8 per cent in the June quarter, for an annual rate of 6.1 per cent, the Australian Bureau of Statistics has reported.

The Guardian - AU

IMF outlook for world economy could herald dark clouds for Australia

Analysis: Treasurer Jim Chalmers will no doubt reveal inherited budget bungles but he won’t need to look far for new tales of economic woe

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