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The Latest Breaking News from Inflation

'Do the right thing for once': Douglas Ross told to reject benefits cuts

DOUGLAS Ross has been urged to “do the right thing for once” and defend benefits rising in line with inflation amid fears that the Government…

The National (Scotland)

The Bank of England is selling off its most valuable asset: the perception of competence

It was the government that started this fire – but the Bank is proving to be a poor firefighter, says economist Duncan Weldon

The Guardian - UK

Nothing stops flatpack: IKEA reports ‘exceptional year’ despite pandemic, war and inflation

Sales increased by 5.6% on the previous year, the home furnishings giant reports

The Independent UK

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Social Security benefits to jump by 8.7% next year

The Social Security Administration said the estimated average monthly Social Security benefit for all retired workers will be $1,827 starting in January.

Chicago Sun-Times

Nasdaq Tumbles Over 200 Points Following September Inflation Data

U.S. stocks traded lower this morning, following the release of CPI data for September.

Benzinga

US inflation tops forecasts

NEW YORK: US inflation jumped more than expected in September, according to government data released on Thursday, in the latest sign that pricing pressures have become more intractable despite aggressive central bank action.

Bangkok Post

Inflation Hits 8.2 Percent After Another Month of Sharply Rising Prices

Prices rose by 0.4 percent in September, faster than economists expected and indicating that rising interest rates aren't getting the job done.

Reason

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IMF chief urges aggressive fight against soaring inflation

The managing director of the International Monetary Fund urged global policymakers to stop inflation from becoming “a runaway train″ at a time of extraordinary economic turmoil

The Independent UK

Social Security benefits see highest jump in 40 years. Here’s what to expect

Social Security beneficiaries are set to get the largest boost to their benefits in four decades.

Tribune News Service

Inflation continues to ratchet up pressure on North East businesses

Results of the latest North East England Chamber of Commerce quarterly survey show utilities, labour and fuel costs are among the main concerns

Birmingham Post

IKEA calls 2022 an 'exceptional year' despite challenges

Swedish home furnishings giant IKEA says that despite “unprecedented challenges” caused by the war in Ukraine, supply chain disruptions, increased inflation and lingering fallout from the COVID-19 pandemic, 2022 had been an “exceptional year.”

The Independent UK

Core US inflation rises to 40-year high, securing big Fed hike

WASHINGTON: A closely watched measure of US consumer prices rose by more than forecast to a 40-year high in September, pressuring the Federal Reserve to raise interest rates even more aggressively to stamp out persistent inflation before it becomes entrenched.

The Times of India

More big interest rises on the way as US inflation hits 8.2%

The higher than expected figure for September sent shares tumbling

Evening Standard

US prices rise in September as midterm elections loom

Inflation rate stubbornness will likely spark a further increase to interest rates which could come in early November

The Guardian - US

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The Independent UK

U.S. applications for jobless aid rise last week

The number of Americans applying for unemployment benefits rose slightly last week but remains historically low even as the U.S. economy slows in the midst of decades-high inflation

Benzinga

September Inflation Runs Hot At 8.2%, Sending Stocks Spiraling Lower: What You Need To Know

The SPDR S&P 500 (NYSE: SPY) turned negative premarket Thursday after the Labor Department reported an 8.2% year-over-year increase in the consumer price index for September, a potential sign that

Reuters

Turning to garbage dumps to survive, Argentines feel the pain of 100% inflation

Argentines facing an inflation rate set to top 100% this year are grappling to survive, turning to recycling from garbage dumps or lining up to trade their belongings in barter clubs.

Reuters

Portugal's charities struggle to cope with homelessness surge

Six months ago, Jose Moreno found himself without a roof over his head. Now wandering the streets of Lisbon, the 48-year-old said soaring food prices were making his life even tougher.

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Asharq Al-Awsat

Saudi Inflation Rises to 3.1% In Sept

Saudi Arabia's inflation rose to 3.1% in September, driven mainly by higher food prices, rents, and the rising cost of utilities, the General Authority for Statistics said on Thursday. Compared to the previous month, the Consumer Price Index (CPI) for September was marginally higher, up 0.3%, it added. Food and…

Benzinga

US Stocks Show Cautious Optimism As S&P 500, Dow Futures Surge Ahead Of Key CPI Data — Trump's SPAC Partner, Applied Materials And Chip Stocks In Focus Today

The U.S. index futures are pointing to a higher opening on Wall Street, reflecting traders’ hopes that the consumer price inflation data may prove benign.

Roll Call

Social Security benefits to see biggest boost in four decades - Roll Call

Tens of millions of retirees and disabled workers will see benefits rise by 8.7 percent in 2023, the Social Security Administration reported.

Reason

What the 1970s Can Teach Us About Today's Inflationary Politics

Inflation is a problem for politicians. Unfortunately for them, it's not a problem they know how to solve.

The Texas Tribune

“An inverse tsunami”: How inflation and drought are making it harder to feed West Texans in need

Food banks across Texas are now struggling to keep up with growing demand even more than they were during the pandemic.

WEKU

High inflation leads to the biggest raise in Social Security in more than 40 years

Retirees and others who rely on Social Security will see a large boost in benefits next year, with the average benefit rising by $141 per month, as inflation stays above 8%.

Tribune News Service

COUNTERPOINT: Gun violence is an important issue, but not the most important

Less than a month before the 2022 midterm elections, most polls show that the No. 1 issue for likely voters is, as Democratic strategist James Carville famously quipped 30 years ago, “the economy, stupid.”

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