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The Latest Breaking News from Inflation

Families already worried about cost of Christmas as inflation reaches 40-year high

People will prioritise gifts people need rather than want

The Independent UK

Gem and jewellery exports set for further growth

Thailand's gem and jewellery exports are expected to fare better than expected this year despite increasing challenges, including the slowing economies of key trading partners, uncertain economic prospects, persistently high inflation caused by the energy crisis and the Russia-Ukraine war.

Bangkok Post

Yellen downplays US recession as wave of economic data looms

Treasury Secretary Janet Yellen says the U.S. economy is slowing but pointed to healthy hiring as proof that it is not yet in recession

The Independent UK

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Weighing in on India’s investment-led revival

Prospects of sustaining investment recovery are likely to get harder with a depreciating rupee and rising inflation

The Hindu

Yellen says signs of US recession aren’t in sight for now

WASHINGTON — Treasury Secretary Janet Yellen expressed confidence in the Federal Reserve’s fight against inflation and said she doesn’t see any sign that the U.S. economy is in a broad recession.

Tribune News Service

Semiconductor bill unites Sanders, the right — in opposition

A bill to boost semiconductor production in the United States has managed to do nearly the unthinkable — unite Sen. Bernie Sanders and the tea party

The Independent UK

Rishi Sunak or Liz Truss? Whoever wins faces a bleak economic outlook

Inflation and a cost of living crisis mean the new PM will have little time to produce a feelgood factor

The Guardian - UK

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Liz Truss plans for tax cuts not ‘Thatcherite’, say members of former PM’s cabinet

Differences over tax have dominated Conservative leadership contest

The Independent UK

The Fed's mission improbable: Beating inflation without causing a recession

Inflation is sky high. The Federal Reserve wants to bring it back to earth without crashing the economy. But achieving a so-called "soft landing" and avoiding a recession is easier said than done.

WEKU

DWP confirms Universal Credit benefit payments to rise from April 2023

It comes as more than eight million households have started to receive the first of two payments totalling £650 to ease cost-of-living pressures

Daily Mirror

Inside Greater Manchester's summer of strikes as thousands of workers walk out

The country is set for unprecedented industrial action this summer

Manchester Evening News

Government ‘recognises concern’ over monkeypox with 44 cases recorded – as it happened

This blog is now closed

The Guardian - AU

Price data could surprise on the upside

Australia could be about to rack up its worst annual inflation rate in more than 31 years, paving the way for a sharp lift in official interest rates in August.

AAP

Truss pledges to scrap EU rules if she wins race to be UK leader

Liz Truss vowed to scrap all remaining EU laws by the end of 2023 if she becomes prime minister, as she vies for votes with Rishi Sunak in their battle to win the Conservative Party leadership election and succeed Boris Johnson.

Tribune News Service

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Daily Mirror

Desperate NHS nurses selling back their days off in face of soaring cost of living

NHS staff have been offered a below-inflation pay award by the Government which unions blasted as a 'kick in the teeth' and another real-terms pay cut as workers pick up extra shifts for cash

Evening Standard

Sunak and Truss ramp up leadership campaigns ahead of regional hustings

Rishi Sunak claims he is the underdog and is being targeted by ‘the forces that be’

The Guardian - UK

Thatcher ministers turn on Liz Truss over tax cut plans

Chris Patten, Norman Lamont and Malcolm Rifkind warn former PM would never have approved borrowing to fund £30bn cuts

The Independent UK

Rishi Sunak hits out at ‘forces that be’ backing Liz Truss

Foreign Secretary Ms Truss, who has been tipped as the favourite among the Tory membership, said she was ‘not taking anything for granted’.

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The Guardian - UK

‘Holiday hunger’: inflation adds to family strain as UK schools break for summer

Long holiday and surge in cost of living deepen difficulties as food banks report rise in demand but fewer donations

The Independent UK

Rishi Sunak promises tax cuts ‘you can believe in’

Rishi Sunak on Saturday told Tory members that he was the candidate telling the truth about taxation.

The Independent UK

Sunak labels himself the underdog as ‘forces that be’ back Liz Truss

The ex-chancellor used a speech in Grantham, the birthplace of Margaret Thatcher, to kick-start his campaign for the Tory leadership.

The Independent UK

'Day by day': Trade bans, inflation send food prices soaring

As inflation surges around the world, politicians are scrambling for ways to keep food affordable as people increasingly protest the soaring cost of living

Daily Mirror

Brit shoppers feeling the pinch cut back on items from food to furniture, data shows

Brit shoppers are being forced to cut back on even essential items due to the cost of living crisis with the retail sector hit heavily and some shops forced to close their doors

The Independent UK

Sunak set for speech in Thatcher’s hometown as Truss promises EU ‘red tape bonfire’

The Foreign Secretary has vowed to review all EU laws retained after Brexit by the end of next year if she becomes prime minister.

Bangkok Post

BoT says growth might exceed 3% in second quarter

The Bank of Thailand believes Thai economic growth might increase past 3% in the second quarter, mainly thanks to a rebound in domestic consumption under the central bank's commitment to maintain flexible inflation targeting.

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