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The Latest Breaking News from Inflation

DWP: 10 benefits could face 'permanent cut' - including Universal Credit and ESA

The Government has not committed to raising benefits in line with inflation

Nottingham Post

As inflation soars, it’s time to make your money work harder

After a decade in the doldrums, savings rates are finally on the up. But where best to put your cash and can it really come close to inflation?

The Guardian - UK

Migrants feel inflation's squeeze twice — at home and abroad

In nearly every corner of the globe, people are spending more on food and fuel, rent and transportation

The Independent UK

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ECB again Eyes Jumbo Rate Hike to 'Tame Inflation Beast'

The European Central Bank is expected to set aside recession worries and deliver another jumbo interest rate hike this week to cool inflation, as Russia's war on Ukraine sends energy prices soaring. Inflation in the 19-nation eurozone climbed to an all-time high of nearly 10 percent in September, five times…

Asharq Al-Awsat

Australian budget 2022 preview: what we know so far

Treasurer Jim Chalmers is promising a ‘solid, simple and sensible’ federal budget for the times. Here’s a summary of what has already been flagged on spending, savings and tax

The Guardian - AU

Petrol price spike looms for motorists, RBA comments on inflation

Motorists have a small window to fill up on cheaper petrol as many cities hit their first new fuel cycle after the fuel tax cut expired.

The New Daily

Previously-Secret Documents Reveal The Reserve Bank Reckons House Prices Are Set To Drop By 20%

The Reserve Bank of Australia predicts house prices could fall by 20% by the end of 2024, which would be the biggest drop since the 1980s.

Pedestrian.tv

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Pelosi says she has no regrets on COVID aid that GOP links to inflation

WASHINGTON — House Speaker Nancy Pelosi said she doesn’t regret pandemic aid passed by Democrats to boost the U.S. economy and advised her party’s midterm candidates to focus on the Biden administration’s efforts to curb inflation.

Tribune News Service

Petrol price spike looms for motorists

Some retailers are already charging more than $2 a litre as cities move into the first new fuel cycle since petrol tax relief expired.

AAP

Thousands protest against PM Orban's government, "runaway inflation"

Thousands of Hungarians including teachers and students marched through Budapest on Sunday to protest against the government, demanding higher wages for teachers and a curb on surging inflation that is eroding incomes.

Reuters

Labor’s ‘rorts and waste’ audit to deliver $10bn in savings to federal budget

Government will also shuffle funds and axe Coalition projects to free up $11bn for their own policy priorities

The Guardian - AU

Penny Mordaunt refuses to reveal basic things she'll do as PM in cringey TV interview

The third-placed candidate for Prime Minister - who seems unlikely to get 100 nominations by the 2pm Monday deadline - couldn't even say if she'd still raise benefits with inflation

Daily Mirror

Economy moves to front for Democrats trying to hold on in key midterm races

From hardscrabble mining communities to affluent New Jersey suburbs, GOP attacks on the economy are forcing Democratic House candidates in must-win Northeast districts to confront an issue that has bedeviled them.

Tribune News Service

Australia's growth downgraded and inflation drives massive rise in cost of pensions and payments in budget

Tuesday’s budget will point to a slowing Australian economy, with growth forecasts cut, and contain more than $21 billion of savings and decisions to redirect spending.

The Conversation

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Evening Standard

Former Bank of England chief warns of ‘higher taxes for the average person’

Lord King of Lothbury outlined the challenge for the next prime minister to confront high inflation.

The Guardian - US

Democrats need to address economic fears now – or risk losing their majorities

Until Democrats tell it like it is, their electoral majorities will continue to be fragile

Tribune News Service

Former allies, Patty Murray and Tiffany Smiley face off for US Senate

SEATTLE — Sen. Patty Murray was locked in her office in the U.S. Capitol on Jan. 6 when she said she decided to run for a sixth term. If she wins she would be among the longest serving senators in U.S. history.

The Guardian - AU

Australia will join Biden’s global pledge to cut methane emissions by 30% by 2030, Albanese confirms

Funding of more than $3bn will support agricultural methane reduction, clean tech initiatives and the commercialisation of seaweed feed supplement

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AAP

Inflation, budget on watchlist this week

The latest consumer price index figures are set to be released after the federal budget is handed down on Tuesday.

Tribune News Service

Political toss-up: Luria, Kiggans are ‘deadlocked,’ poll finds

NORFOLK, Va. — A little more than two weeks before Election Day, one of Virginia’s most closely watched races is in a deadlock.

ABC News

Treasurer Jim Chalmers reveals workers' pay will go backwards until 2024-25 ahead of federal budget announcement

Treasurer Jim Chalmers reveals workers' pay will effectively go backwards until 2024-25.

Tribune News Service

Pelosi says ‘kitchen table’ issues should be focus of Democrats

House Speaker Nancy Pelosi advised Democratic candidates to focus on “kitchen table” issues and reducing inflation as her party heads into the final two weeks before the Nov. 8 midterm elections.

Daily Mirror

Schools crippled by cost of living crisis as teachers unscrewing light bulbs to cut bills

Schools in England face a cash catastrophe driven by surging energy bills, rising inflation and unfunded pay deals. The Sunday People can reveal nine out of 10 will have run out of money by the next school year

Tribune News Service

Fed lines up another big hike while mulling eventual downshift

Federal Reserve officials are preparing to roll out another supersized interest-rate increase in early November, when they will also likely debate tactics for completing the most aggressive tightening cycle in four decades.

AAP

Gloomy backdrop for first Albanese budget

The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.

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