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The Latest Breaking News from Inflation

‘Lives will be lost’ if benefits and wages do not rise in line with inflation

The most vulnerable are “paying the price” of world events, Olivier De Schutter, UN Special Rapporteur on extreme poverty and human rights, will say.

The Independent UK

White House’s Rouse says Fed inflation push starting to work

The Federal Reserve’s interest-rate hikes to bring inflation under control are starting to work, while President Joe Biden is doing everything possible to support the U.S. central bank, two administration economic advisers said.

Tribune News Service

The Guardian view on central bankers: don’t put them in charge of the crisis

Editorial: The UN is right to warn that governments risk a worldwide recession precipitated by excessive rate rises

The Guardian - UK

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Inflation and inadequate welfare fuelling Australia’s food insecurity crisis, Foodbank finds

The charity’s annual Hunger Report estimates about 500,000 households on any given day struggle with getting enough to eat

The Guardian - AU

Thousands take to the streets of Paris to protest soaring prices

Thousands of people took to the streets of Paris on Sunday to protest against soaring prices as weeks of strikes for higher wages at oil refineries spurred demands for a general strike.

Reuters

Small businesses brace for cautious holiday shoppers

Small businesses are stocking the shelves early this holiday season and waiting to see how many gifts inflation-weary shoppers feel like giving

The Independent UK

Hundreds of thousands of teachers balloted for strikes - risking school closures

Teachers are up in arms over the Government's below-inflation pay offer, with three major education unions expected to formally ballot their members for strike action

Daily Mirror

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Teachers threatening strikes told Welsh Government simply can't afford to pay what they want

Welsh Government education minister Jeremy Miles said the unions' 12% pay demand was 'reasonable' but the cash simply isn't there

Wales Online

March against inflation turns up political heat in France

Protesters demanding wage increases, greater taxation of windfall profits and other steps to lessen the bite of rising inflation are marching in Paris, heeding the call of left-wing parties and trade unionists hoping to crank up pressure on the government of French President Emmanuel Macron

The Independent UK

Republicans are trying to win by spreading three false talking points. Here’s the truth

Republicans want midterm voters to believe lies about crime, inflation and taxes. This is what they’re claiming – followed by the facts

The Guardian - US

Latest US inflation data raises questions about Fed’s interest rate hikes

Experts say raising rates ‘isn’t working’ and that the real culprits are corporate pricing, energy costs and supply chain

The Guardian - US

Yes, a new economic era was coming, but that made this act of self-harm even more idiotic

All advanced economies are facing a tough future as interest rates spike. But only one decided to add a heap of uncertainties of its own making

The Guardian - UK

Biden: Truss plan a 'mistake' amid 'worldwide inflation'

President Joe Biden is calling embattled British Prime Minister Liz Truss’ abandoned tax cut plan a “mistake,” saying he is worried that other nations’ fiscal policies may hurt the U_S_ amid what he calls “worldwide inflation.”

The Independent UK

Craig, Kistner battle over economy, abortion in top-dollar U.S. House race

MINNEAPOLIS — The Twin Cities' southern suburbs and rolling rural communities that stretch toward Mankato have become a key front in the nationwide battle for control of Congress.

Tribune News Service

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AAP

Govt defends big road and rail spending

The federal government hopes a near-$10 billion infrastructure investment won't do more to drive inflation as it prepares for October 25's budget.

StockNews.com

Bear Markets Are Never Easy….Not Even for Bears

Bear markets are never easy. Not even for bears. Today's action is a reminder of that, and why the POWR Stocks Under $10's charter is to remain at least 50% invested. In a way, it reminds me of what happened in February, when markets were sinking lower on the prospects…

Manchester Evening News

Universal Credit warning as DWP told families could lose up to £1,000 a year

The government is due to make an announcement on benefit upratings at the end of the month

Evening Standard

Interest rate rises could be higher than expected next month, warns Andrew Bailey

Bank of England Governor says ‘inflationary pressures’ could prompt stronger response than bank had previously thought

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The Independent UK

Bank of England warns next interest rate hike could be higher than expected

‘Stronger response’ needed to tackle inflation, says Andrew Bailey

Reuters

India's main opposition stages rally to mark 1,000 km of its protest march

India's main opposition Congress party held a huge public rally in the southern Indian state of Karnataka on Saturday, accusing the government of not doing enough to contain inflation and create promised jobs for young people.

The Guardian - UK

Shareholder payouts rose three times faster than UK wages, says TUC

Analysis by unions suggests firms can afford to pay workers more, as handouts have soared £440bn above inflation since 2008

The Independent UK

Social Security boost seen as unlikely to help Dems at polls

The news that 70 million people will see an 8.7% boost in their Social Security checks next year came just weeks before Election Day, but it's unlikely to give Democrats the edge they're desperately seeking at the polls

Los Angeles Times

Commentary: Good news for a change — NASA proves there’s a defense against killer asteroids

The stock market is dipping, inflation is on the rise and there is no end in sight to the war in Ukraine. But not all the news is bad: Our planet just got a bit safer, thanks to NASA.

Chicago Tribune

Editorial: Given today’s gut-wrenching markets, a Nobel Prize for studying fear makes sense

A trio of U.S. economists, including the University of Chicago’s Douglas Diamond, has won a Nobel Prize for explaining the causes of bank runs and other financial crises. Their research sheds light on the economic effects of fear.

The Guardian - UK

Jeremy Hunt may still have to find £40bn of cuts as chancellor, say experts

Kwarteng’s replacement is warned of inflation impact, crumbling services and financial ‘black hole’ that he has two weeks to fill

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