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The Latest Breaking News from Inflation

Breaking 4 publishers covering this story in the last 6 hours

1h ago Chalmers says global economic turmoil will drive budget cuts, but Australia should avoid recession
2h ago 'Tight ship': public told to expect scant budget help
2h ago Trump says Iran has been ‘decimated’, warns will decide on Tehran the ‘easy’ or ‘hard’ way
5h ago Diesel Above $6, Brent at $107, and Tortillas Getting Pricier: The Iran War's Hidden Toll on Latin People

How steep fed rate hikes affect your finances

Mortgage rates continue to jump, home sales slump and credit cards and auto loans increase

The Independent UK · Nov 2, 2022

Westminster chaos blamed as Swinney announces £1.2bn in cuts to Scottish budget

JOHN Swinney has outlined cuts worth £1.2 billion to the Scottish Government’s budget which he said were a direct result of the global inflation…

The National (Scotland) · Nov 2, 2022

Join us LIVE as we explain how Bank of England interest rate hike affects you

Mirror business editor Graham Hiscott will be joined by Mirror Money reporter Sam Barker today (November 3) at 3pm to run through how your mortgage, savings and loans are affected

Daily Mirror · Nov 2, 2022

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Scottish Government announces £1 billion of 'savings' in emergency budget review as inflation bites

John Swinney painted a gloomy picture of the financial situation faced by SNP and Green ministers when he addressed MSPs today.

Daily Record · Nov 2, 2022

Now that Australia’s house prices are falling, does the RBA really need to raise rates yet again?

The Reserve Bank is still on its quest to kill inflation, but what exactly still needs to be put to the sword?

The Guardian - AU · Nov 2, 2022

One in four Australians struggling to make ends meet as inflation strains incomes, study shows

Household earnings are taking a hit with many reporting a real pay cut despite working more hours

The Guardian - AU · Nov 2, 2022

Hundreds march in crisis-hit Sri Lanka protesting tax hikes, crackdowns

Hundreds of people marched in Sri Lanka's largest city Colombo on Wednesday protesting against higher taxes, inflation and alleged state-led repression as the country struggles to emerge from its worst financial crisis in seven decades.

Reuters · Nov 2, 2022

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Glasgow City Council in financial crisis amid £119million budget shortfall

Glasgow City Council will be forced to make savings higher than those seen in recent years as it faces a budget shortfall of £120 million - ten times higher than in 2021.

Glasgow Live · Nov 2, 2022

Rishi Sunak fails to commit to raising benefits in line with inflation despite SNP pressure

The Prime Minister was quizzed by SNP Westminster leader Ian Blackford on whether he would boost Universal Credit and state pensions at a time of soaring inflation.

Daily Record · Nov 2, 2022

Gap Shrinks between Egypt's Official, Black Market Dollar Prices

The gap between the official and black market price of dollars in Egypt has narrowed significantly since the central bank announced a flexible exchange rate policy. On Thursday, Cairo announced a $3 billion International Monetary Fund deal with a commitment to a “durably flexible exchange rate regime.” The central bank…

Asharq Al-Awsat · Nov 2, 2022

State Pension and benefits under threat as Rishi Sunak warns of 'difficult decisions'

The Prime Minister refused to pledge the state pension or benefits will rise with 10.1% inflation in April - instead telling PMQs 'difficult decisions will be made'

Daily Mirror · Nov 2, 2022

All the cost of living payments you can get in November as food inflation soars

Food costs have hit a new record

Wales Online · Nov 2, 2022

Cost of cup of tea surges in more misery for Brits - as food inflation hits record 11.6%

Food inflation soared to a record 11.6% in October, according to the British Retail Consortium, as the price of tea bags, milk and sugar all rose significantly compared to this time last year

Daily Mirror · Nov 2, 2022

Food price rises set to get worse, warns supermarket boss

A supermarket boss has warned that food price rises will “get worse” as the Bank of England prepares to hike interest rates to tackle soaring inflation.

Evening Standard · Nov 2, 2022

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Daily Mirror · Nov 2, 2022

One pint of milk could soon cost £1, Iceland boss suggests - 'it will get worse'

Iceland managing director Richard Walker, who is bidding to be a Conservative MP, said some costs are yet to rise and 'I don't know' when the 89p price for a pint will hit £1

WEKU · Nov 2, 2022

The Fed orders another jumbo interest rate hike. Many are wondering what's next

The Federal Reserve raised interest rates by another 0.75 percentage points Wednesday, as part of its ongoing effort to fight inflation. The big question is, what happens next.

WEKU · Nov 2, 2022

Key GOP groups are more fired up to vote in midterms than Democrats, NPR poll finds

The last NPR survey before all votes have to be cast shows inflation continues to be the top concern for voters, and Republicans are trusted more than Democrats on the issue by 20 points.

The Guardian - UK · Nov 2, 2022

UK food prices soar by fastest rate on record as cost of living crisis bites

Annual rise of 11.6% comes as milk, teabags and sugar become more expensive

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Insider UK · Nov 2, 2022

Weir reports easing of supply chain challenges

Logistics issues have eased and input cost inflation was mitigated during the quarter

Tribune News Service · Nov 2, 2022

Commentary: Incarcerated people face a higher risk from hurricanes

Three months into hurricane season, anxiety is running high in New Orleans and other at-risk cities. Witnessing the wrath of Hurricane Ian, residents know all too well that their city is not yet out of the woods. There are, however, small signs of relief and progress amid this climate-fueled apprehension…

Tribune News Service · Nov 2, 2022

Karl W. Smith: Your no-rent paying child is an inflation fighter

It’s generally accepted among economists and investors that the Federal Reserve has an impossible task of getting inflation under control without broad and lasting damage to the economy. It’s time for a reality check. In fact, it’s looking more and more like the central bank may have a far easier…

Los Angeles Times · Nov 2, 2022

Michael Hiltzik: Republicans keep harping on inflation, but don't have any answers for it

Even if you didn't know from your household accounts that inflation has been running hot this year, your local Republican officeholders and candidates would make sure it wasn't a secret.

Evening Standard · Nov 2, 2022

FTSE 100 Live: US interest rates hit 4%, Next posts sales update

Interest rates are today expected to jump 0.75% to 3% as the Bank of England steps up its fight against inflation.

Evening Standard · Nov 2, 2022

Food inflation soars to record 11.6% as energy costs hit producers

Overall shop prices are now 6.6% higher than they were this time last year, according to the British Retail Consortium (BRC)-Nielsen Shop Price Index.

The Guardian - UK · Nov 2, 2022

Shipping giant Maersk warns of looming global recession; eurozone factory slump deepens – as it happened

AP Møller-Maersk says Ukraine war, Europe’s energy crisis and high inflation are hitting demand, as it forecasts lower demand for containers

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