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The Latest Breaking News from Inflation

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.

The Conversation

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

Birmingham Post

Zero probability of recession in India, risk climbs for some Asian economies: Report

NEW DELHI: Indian economy has zero chances of slipping into recession, even amidst persisting global challenges, a survey by Bloomberg economists showed.

The Times of India

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‘Red hot’: Typical mortgage bills to rise $140 in August as inflation surges

Typical monthly mortgage bills are expected to rise another $140 next week after new data showed inflation continued rising in the June quarter.

The New Daily

‘Inflation spiral’: Price rises broaden as households face supermarket squeeze

Households are being squeezed at the petrol pump and increasingly at the supermarket as Australia's cost-of-living crisis continues to worsen.

The New Daily

Despite economic headwinds, most state budget experts aren’t worried

Grocery, gas and housing prices are up this year. The stock market is down. Voters are souring on the economy, and some analysts are warning of a looming recession.

Tribune News Service

Chicago food pantries are serving more people but seeing fewer volunteers

As inflation sends prices higher, food pantries across Chicago worry the increased demand will tax their shrinking pool of helpers.

Chicago Sun-Times

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Tory minister on £115k salary says workers must accept ‘pay restraint’ to control inflation

‘High wage economy’ promise in doubt as chief secretary to the Treasury attacks pay demands

The Independent UK

Google-parent Alphabet's Profit Slips as Growth Slows

Google-parent Alphabet reported Tuesday its profit and revenue slipped as the internet giant's long sizzling ad revenue growth cooled, but the market seemed relieved the news wasn't worse. Big tech firms are grappling with multiple problems, from inflation to the war in Ukraine, and results in general for the quarter…

Asharq Al-Awsat

DWP confirms Universal Credit will rise from April next year

Universal Credit payments may increase to above the rate of inflation and earning, according to a DWP minister

Manchester Evening News

McDonald’s set to hike price of 99p cheeseburger for first time in 14 years

Fast-food giant reveals menu items ‘impacted most by inflation’ will see price rise of between 10p and 20p

The Independent UK

McDonald's puts up prices as cheeseburger cost rises for first time in 14 years

The fast food chain says prices are going up due to high inflation and it will be adding between 10p and 20p to a number of items on its menu

Chronicle Live

Sales and profits up at biggest UK brick maker despite industry-wide inflation and supply chain challenges

Ibstock said recent sales remained encouraging and the business had mitigated energy price risks

Birmingham Post

Rahul Gandhi targets PM Modi on issue of price rise

"Why a cylinder for Rs 1053? Why GST on curd-cereals? Why Mustard Oil for Rs 200? The 'king' arrested 57 MPs and suspended 23 MPs for asking questions on inflation and unemployment," Gandhi said in a tweet in Hindi. Full story on Dynamite News:

Dynamite News

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Birmingham Post

McDonald's hikes price of cheeseburger for first time in 14 years as inflation bites

The fast-food giant said it was having to make "tough choices" as the cost of everyday items continue to soar

Nottingham Post

McDonald's prices set to rise by up to 20p in first hike in 14 years

Most rises will kick in this summer

The Independent UK

Global stocks, oil prices higher before likely US rate hike

Major global stock markets and Wall Street futures have advanced as traders brace for a possible sharp interest rate hike by the Federal Reserve to cool surging inflation

Al Jazeera

UK workers stage nationwide train strike as inflation worsens

Wages have failed to keep pace with UK inflation, currently at a 40-year high and set to worsen.

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Benzinga

Bill Ackman Explains Why Inflation, Not Fed Rate Hike, Is Biggest Threat To US Economy

Billionaire hedge fund manager and CEO of Pershing Square Holdings Ltd. (OTC: PSHZF) Bill Ackman explained through a series of tweets that the biggest risk to the U.S.

Los Angeles Times

Commentary: California workers urgently need an $18 minimum wage. The Legislature should act this year

Californians may have gotten temporary relief recently when gas prices finally fell to about $6 a gallon this month, down from as high as $8 per gallon in June in Los Angeles County. Inflation has rocked the economy, with prices soaring 9.1% in June.

Wales Online

Universal Credit benefits to rise for millions in April as inflation surges ahead

Each April, all benefit payments are increased - with a 3.1 per cent increase in place for the current financial year

Insider UK

Lloyds profits fall as it sets aside £377m for loan defaults over living costs

Hal-year results also reveal that customers are ditching subscription services in the face of rising inflation

The Conversation

Inflation is being amplified by firms with market power

The upsurge in inflation has revived old debates about what causes it.

Wales Online

McDonald's puts up price of a cheeseburger for first time in 14 years

Company said the cost of a number of items will go up by between 10p and 20p

Axios

Vibes about inflation, economy depend on how much you're earning

Along with income and wealth inequality, there's also mood inequality.

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