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The Latest Breaking News from Inflation

Commentary: OPEC’s move to raise oil prices is all about Russia

On Wednesday, OPEC+ announced a dramatic reduction in production quotas, by 2 million barrels per day. According to oil ministers, the goal is to boost crude prices and “encourage investment” in the sector — making it sound like they are doing the world a favor. In fact, this is an…

Los Angeles Times

Conor Burns suggests Liz Truss should not have sacked him before groping claim investigated – as it happened

Former trade minister criticises decision to ask him to stand down as PM hopes for reset following weeks of turmoil

The Guardian - UK

Benefits must rise with inflation, says Sajid Javid as Liz Truss warned she will be ‘forced to cave’

Senior Truss backer makes clear scale of Tory rebellion with intervention

The Independent UK

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Liz Truss to hold meetings with Tory MPs in bid to woo critics

With Parliament returning this week, the Prime Minister will meet groups of colleagues as she faces a growing rebellion over benefits.

The Independent UK

Truss must raise benefits in line with inflation, Javid says

Former Tory chancellor also calls on Kwasi Kwarteng to speed up release of OBR forecasts

The Guardian - UK

Inflation, rising prices causing 79% of holiday travelers to change their plans

The holiday season is an opportunity to slow down, connect with friends and family or even take a much-needed vacation. But according to a new Bankrate survey, a substantial portion of travelers are rethinking their excursions this year. Of the 43 percent of U.S. adults planning to travel this holiday…

Tribune News Service

Ghana and the IMF: debt restructuring must go hand-in-hand with managing finances better

Ghana is struggling with managing its debt, 20-year high inflation, a weak currency, and rising inequality. For example, inflation rose to 33.9% in August 2022 from 9.7% a year earlier, while the cedi has depreciated by 41% year-to-date against the US dollar. These vulnerabilities have been worsened by the aftershocks…

The Conversation

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America’s ‘weird’ economy isn’t working – can Democrats convince voters they can fix it?

Economy in focus: Phoenix’s economy appears to be booming – but wages are failing to keep up, and prices are spiralling. How do voters see it?

The Guardian - US

Scottish business activity falls for second month running

Private sector activity falls for second month running, amid sharper falls in new work

Insider UK

Asian shares extend losses as specter of recession looms

Asian shares have fallen, with Chinese markets logging moderate losses after reopening from a weeklong holiday

The Independent UK

Nevada Senate race tests potency of abortion focus for Dems

Democrats predicted abortion would be Sen. Catherine Cortez Masto’s saving grace

The Independent UK

Truss tells Tory rebels she’s ‘ready to listen’ in row over benefits

Speculation grows PM is getting ready to give in to Cabinet pressure to increase benefits in line with inflation

The Independent UK

Thousands of salaried Tesco workers forced to take real-terms pay cut

A 3% pay rise for team managers amid 10% inflation comes after a string of wage rises for hourly staff

The Guardian - UK

Economic uncertainty and high inflation cause South West business activity to fall

Companies reported increases in costs, as higher payments for energy, wages and raw materials pushed up expenses

Birmingham Post

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Bangkok Post

Bumpy road to recovery

Even as Thailand continues on its path to economic recovery in the fourth quarter, buoyed by tourism and domestic consumption, businesses are still unnerved by pressing challenges, including high inflation, a weaker baht, surging energy prices and flooding, which could hamper the rebound.

Daily Mirror

'Poor must not pay the price for the Truss government's economic incompetence'

Liz Truss will be condemning 200,000 children to poverty if she fails to raise benefits in line with soaring inflation - a move made because she lost control of the UK's finances

The Guardian - UK

Liz Truss on verge of major U-turn on real-terms benefits cut

Exclusive: Tory MPs warn PM she would lose vote on increasing benefits only in line with earnings rather than inflation

The Independent UK

Biden preaches patience to voters spooked by economic tumult

When it comes to reassuring Americans about an economy that's an election-year challenge to his party, President Joe Biden is telling the country to hold on

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Newsroom.co.nz

Central banks stay the course as markets grow increasingly nervous

Oil prices surge 13 percent after dramatic supply cut by oil producing nations, putting new pressure on inflation and interest rates.

The Hindu

India will stand out with 7% growth rate in FY23 amid global gloom, says EAC-PM member Sanyal

New Delhi Amid fears of the world slipping into recession, India will perhaps emerge as the stronges

Daily Mirror

Cabinet to 'ambush' Liz Truss over benefit cut that'd put 200,000 kids in poverty

The PM is being warned she won't get the cut through as Tories plot with Labour in a civil war - and an ex-Sainsbury's boss warns the crisis is the worst since the 1970s

Birmingham Post

North East businesses weighed down by inflation and fears of recession

The NatWest North East Business Activity Index points to third consecutive contraction in region's private sector

The New Daily

Better than the bank: Where to find a greater rate of return

Banks are great for easy access to funds and short-term savings goals. However, to keep ahead of inflation you need to look at the long term.

Asharq Al-Awsat

IMF Provides Highest Financing to Arab Countries in Decades

Jihad Azour, Director of the Middle East and Central Asia Department at the International Monetary Fund (IMF), said that the world was going through a delicate stage due to successive shocks and uncertainty in the global economic system. He underlined the need for international cooperation to face challenges, especially with…

WEKU

The White House is turning to TikTok stars to take its message to a younger audience

A third of young people say they prefer to get their news on social media. The White House is having special briefings for influencers to get its message out to their massive audiences on TikTok.

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