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The Latest Breaking News from Inflation

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%.

WEKU

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.”

Tribune News Service

India’s economy faces significant external headwinds, IMF says

NEW DELHI: India’s economy faces notable risks from global developments, including aggressive central bank actions and the fallout of the prolonged war in Ukraine, according to the International Monetary Fund.

The Times of India

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More financial burden for the common man: Amid rising food prices, expect another rate hike by December

NEW DELHI: The Reserve Bank of India (RBI) may be forced to raise repo rate yet again in December with retail inflation rising to 5-month high of 7.41% in September, mainly on account of rising food prices.

The Times of India

‘Time may be running out’: global debt crisis reaches critical point

Eclipsed by rich countries’ own problems, a crunch a decade in the making is coming to a head

The Guardian - UK

Pound and UK government bonds rally on rumours of more mini-budget U-turns – as it happened

US core inflation hits a 40-year high, triggering expectations of more big rate hikes, as Kwarteng meets IMF leaders in Washington

The Guardian - UK

AP News Digest 3:40 am

Here are the AP’s latest coverage plans, top stories and promotable content. All times EDT. For up-to-the minute information on AP’s coverage, visit Coverage Plan at https://newsroom.ap.org.

The Independent UK

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FTSE 100 Live: Blue-chip index at 18-month low, pound moves back toward $1.13

UK-focused shares are expected to continue their rebound today as hopes grow for a u-turn on some of the tax cuts in chancellor Kwasi Kwarteng’s recent mini-Budget.

Evening Standard

Living costs top worry for Israeli voters stuck in election treadmill

Israelis are as fed-up with soaring prices as they are with the country's seemingly never ending elections. In the Nov. 1 ballot - a fifth in less than four years - steep living costs, exacerbated by record inflation, are top priority for voters.

Reuters

Asian stocks fall ahead of US inflation update

Asian stock markets have fallen ahead of the release of U.S. consumer price data that investors worry will show inflation still is hot, reinforcing the Federal Reserve’s plans for more aggressive interest rate hikes

The Independent UK

Social Security recipients expected to get big benefit boost

Millions of Social Security recipients will soon learn just how high a boost they’ll get in their benefits next year

The Independent UK

Little sign of relief expected in September inflation data

Any Americans hoping for relief from months of punishing inflation might not see much in Thursday’s government report on price increases in September

The Independent UK

Alibaba, Nio Shares Fall: Hang Seng Merely 350 Points Away From 2009 Lows

Hong Kong stocks opened in the red on Thursday as investors shifted focus to U.S. inflation data due later in the day. The benchmark Hang Seng opened 1.11% down and was last seen trading at 16,538, just nearly 350 points away from hitting its 2009 lows.

Benzinga

Bitcoin, Ethereum Gain, Dogecoin Down After Fed Minutes: Analyst Says 'Quiet Period For Crypto About To End'

Bitcoin and Ethereum were seen trading in the green on Wednesday evening as the global cryptocurrency market cap stayed largely flat at $921.5 billion at 9:16 p.m. EDT.

Benzinga

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The Guardian - UK

Poorer families risk £1,000 hit from earnings-related benefits rise

Below-inflation rise would save exchequer tenth of £40bn to be given out through tax cuts, says thinktank

The Independent UK

Families with children ‘to be hit hardest if benefits are uprated by earnings’

Nine million households containing 30 million people will be affected if benefits rise in line with earnings, according to the Resolution Foundation.

ABC News

Treasurer Jim Chalmers warns of US recession prior to meeting with G20 counterparts

Treasurer Jim Chalmers acknowledges the "deteriorating global economy and rising inflation" would put pressure on his upcoming budget, ruling out changes to legislated stage 3 tax cuts.

The Guardian - UK

Labour pledges cheap broadband tariff for low-income families

In government, party says it would stop inflation-busting price rises and take action on mid-contract hikes

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The Independent UK

H&M could soon charge you for returns

Inflation and rising shipping costs has forced retailers to implement return fees

Benzinga

The Fed Is Skating To Where The Puck Was: Comparisons To Volcker's 1980s Inflation Are 'Conceptually Wrong,' Says This Economist

Unbeknownst to many, the gift for the 43rd anniversary of marriage is entertainment; to stretch it further, this fall marks the 43rd anniversary of a pivotal event in the history of the Federal Reserve and the U.S. economy.

Benzinga

Forget Gas Prices: Dating Is Why People Are Going Broke In 2022

It’s not breaking news that gas prices, rent, food and virtually everything else are more expensive than it was just a year or two ago.

StockNews.com

3 Consumer Stocks to Sell Before Their Shares Tank Even More

In response to rising inflation and concerns over a potential recession, consumers are cutting back on their discretionary spending. Therefore, we think fundamentally weak consumer discretionary stocks Roku Inc. (ROKU), The Beachbody Company (BODY), and Vinco Ventures (BBIG) are best avoided now. These stocks have lost significant momentum over the…

Benzinga

Fed Minutes Warn Investors Interest Rates May Be Higher For Longer

Inflation remains the central bank's top priority, according to the September meeting minutes released Wednesday by the Federal Open Market Committee.

The Guardian - UK

Cliff edge looms for UK’s financial system

BoE’s move to end bond buying is a big gamble given the magnitude of the bind Britain is in

The Independent UK

Fed voiced determination at last meeting to curb inflation

Federal Reserve officials at their last meeting stressed their commitment to taming “unacceptably high’’ inflation before announcing that they were raising their benchmark interest rate by a substantial three-quarters of a point for a third straight time and signaling more large rate hikes ahead

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