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The Latest Breaking News from Inflation

US Fed raises interest rates another 0.75 points, sees economy softening

A series of rate hikes, intended to bring down inflation, have increased the risk the United States will fall into recession.

Axios

Nervous About Interest Rate Hikes? These 3 Under-the-Radar, Tax-Advantaged Securities Offer Yield Up to 14%+

For 14 years, the federal funds rate has hovered around zero. The Federal Reserve or “Fed” maintained these low rates to stimulate the economy during two steep market downturns: the 2008 Great Recession and the 2020 COVID-19 pandemic sell-off.

Benzinga

Jim Chalmers to cut economic growth estimates amid inflation ‘headwinds’

Treasurer will use state of the economy speech to trim 2021-22 growth to 3.75% and provide new inflation, wage and unemployment forecasts

The Guardian - AU

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Despite Australia’s soaring inflation rate, some economists say the peak may be ‘coming into view’

Analysis: Inflation optimists look to falling global supply chain pressures but spiking energy prices suggest we haven’t reached a plateau yet

The Guardian - AU

The RBA is increasing interest rates to counter inflation – but it will also slow wages growth

Combined with major price increases on essential items, the RBA’s policies will deliver a brutal whack to lower-income households

The Guardian - AU

Train drivers to strike next month as industrial action causes travel chaos

Aslef announced its members will walk out on Saturday August 13.

The Independent UK

Is Real Estate a Hedge Against the Stock Market?

With inflation quickly approaching all-time highs and a stock market showing zero consistency, many investors are looking for the best opportunity and safety valve to hedge investments and ride the storm. Real estate investing is an option that many investors consider.

Benzinga

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Train drivers to strike next month in new industrial action

Trade Union Aslef has announced its members will walk out on Saturday August 13

Manchester Evening News

US economy seen narrowly averting back-to-back contractions

The U.S. economy may have eked out modest growth in the second quarter, skirting back-to-back quarterly contractions, but rising at a tepid enough pace to feed concerns of an eventual downturn.

Tribune News Service

More rail strikes announced as travellers deal with disruption today

A fresh walk-out will happen next month

Wales Online

Britain's rail network hit by new strike action over pay dispute

Britain's rail network suffered major disruption again on Wednesday as staff walked out in a row over pay and conditions, the latest in a wave of industrial unrest as wages fail to keep pace with soaring inflation.

Reuters

Why a universal job guarantee beats the basic income pipe dream

With the current cost-of-living crisis resulting in dramatic inflation, higher interest rates and a looming recession, people have been searching for solutions to the economic crisis. A universal job guarantee may just be the answer we’re looking for, especially since Canada lost 43,000 jobs in June.

The Conversation

Double-digit price hikes help Heinz and Reckitt deliver sales jump

Dettol maker says customers willing to accept increases on branded items, and that further rises on the way

The Guardian - UK

Fed announces another big interest rate hike to thwart inflation. When will it stop?

WASHINGTON — In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another three-quarters of a percentage point hike and signaled that it wasn’t done in its effort to beat back inflation despite rising risks of triggering a recession.

Los Angeles Times

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Los Angeles Times

Battling to tamp down inflation, Fed gears up for another big interest rate hike

The Federal Reserve is expected to announce Wednesday another aggressive interest rate increase as the central bank presses its attack on inflation despite rising risks of triggering a recession.

Wales Online

This is how much taxi fares in Rhondda Cynon Taf are set to increase

A two mile journey for up to four people in the daytime will go up from £5.20 to £5.80

The Conversation

Inflation is spiking in Zimbabwe (again). Why high interest rates aren't the answer

The central bank of Zimbabwe has raised its benchmark rate from 80% to a fresh record of 200%. This increase comes as Russia’s invasion of Ukraine is driving global commodity prices higher, exacerbating inflation in many countries around the world, including Zimbabwe.

Evening Standard

Baked beans, ketchup and salad cream prices set to rise as inflation hits Kraft Heinz

Prices on some products in the Kraft Heinz portfolio have already been raised by more than 12% this latest quarter.

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The Independent UK

US economy sending mixed signals: Here's what it all means

The U.S. economy is caught in an awkward, painful place

StockNews.com

3 Tiny Stocks with Big Upside Potential

Despite the record-high inflation, the Federal Reserve’s aggressive policy tightening, and growing recession fears, Wall Street analysts see decent upsides in small-cap stocks ARC Document Solutions (ARC), Assertio Holdings (ASRT), and Centerra Gold (CGAU). So, these stocks could be good additions to your watchlist. Read on….

The Independent UK

Fed set to impose another big rate hike to fight inflation

The Federal Reserve is under pressure to continue raising interest rates aggressively with inflation at a four-decade high, the job market strong and consumers still spending

Daily Mirror

Why is Amazon Prime cost increasing – and how to avoid it for 12 months

The cost of free unlimited delivery, entertainment streaming and live sport through the Amazon Prime service is all going to be higher for monthly and annual-paying subscribers

Daily Mirror

Student explains how she makes an extra £150 each week to help pay rising bills

Ella, who studies product design at the University of Leeds, started using Paperound to boost her income as the cost of living crisis continues to take its toll

The Conversation

Chalmers' economic statement to say inflation and global slowdown will slash Australia's growth

Headwinds buffeting the economy – notably high inflation and a global slowdown – have led to a significant downgrade of Australia’s economic growth forecasts, compared with the pre-election estimates.

Birmingham Post

Jaguar Land Rover blames 'unfavourable' inflation and wholesale drop for £524m losses

Retail sales in the quarter totalled 78,825 vehicles, down 46,000 from the same period a year ago

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