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The Latest Breaking News from Inflation

EXPLAINER: G7 provides forum for like-minded democracies

In 1975, leaders of the world’s wealthy democracies gathered outside Paris to deal with an energy crisis sparked by a war and rampant inflation

The Independent UK

WFP cuts Yemen food rations further due to funding gap, inflation

The World Food Programme said it has further reduced rations in Yemen, where millions face hunger, due to critical funding gaps, global inflation and knock-on effects of the Ukraine conflict.

Reuters

What is inflation? What causes it? And who has been hit the hardest? Your questions answered

Inflation is soaring to new highs. From rising interest rates to increased petrol prices, it's hitting Australians' hip pockets. We've taken a look at your top questions.

ABC News

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Cost of living squeeze could push UK into ‘mild recession’; petrol price hits fresh highs – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

Small and medium-sized firms struggling with ‘a hat-trick of hurt’

Rising fuel costs, higher wages and the surging price of imported goods and raw materials are forcing a ‘change of behaviour’

The Guardian - UK

Central Bank Chiefs Meet to Discuss Inflation Challenge

Central bank chiefs and economists gather Monday evening at their annual forum in southern Portugal to discuss the best approach to the inflationary challenges exacerbated by Russia's invasion of Ukraine. Some 200 delegates will attend the ECB Forum on Central Banking at a luxury hotel in Sintra, west of Lisbon,…

Asharq Al-Awsat

BoT: Policy tightening will not disrupt recovery

Thailand's economy will continue growing this year and next, driven by a recovery in domestic demand and tourism, the central bank said on Monday.

Bangkok Post

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Metcash lifts FY profit amid inflation

Metcash's full-year sales have risen 6.4 per cent to $17.4 billion, while underlying earnings jumped 17.7 per cent to $472.3 million.

AAP

Abortion ruling could pose risks for Georgia Republicans

Georgia Democrats have struggled to counter mounting concerns about high inflation and rising energy prices as November approaches. The U.S. Supreme Court's ruling eliminating the constitutional right to abortion presents them with a chance to remake the political narrative.

Tribune News Service

ASX rallies as financials, miners advance, while Imugene soars as gold stocks tumble

Australian shares jump in a broad-based rally, with heavyweight financials leading the gains as investors shrugged off recession fears.

ABC News

Thousands of PwC staff to get 9% pay rise to help with cost of living

Inflation in Britain hit 9.1% in May, the highest level for 40 years

The Independent UK

Workers at PwC to get 9% pay rise to address cost of living

The firm is investing in excess of £120 million in funding pay rises, it is understood

Wales Online

Profits push up prices too, so why is the RBA governor only talking about wages?

Reserve Bank of Australia governor Phillip Lowe has invoked memories of the 1970s, warning wage growth must be restrained to contain Australia’s surging inflation.

The Conversation

French lawmakers plan $8.4 billion aid for households to fight inflation

French lawmakers are drafting a bill to shore-up household buying power by raising some forms of government assistance by 4%, at a cost of 8 billion euros ($8.44 billion) from July to April next year, business daily Les Echos reported on Sunday.

Reuters

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Chronicle Live

Boris Johnson says 'no point' in giving public workers inflation pay rise

The British Prime Minister dismissed calls for public sector pay rises above 3 per cent, despite inflation anticipated to rise to a distressing 11 per cent.

Nottingham Post

State pension set to rise by double figures to protect elderly from inflation

And benefits are also set to rise

Reuters

G7 nations are worried about global economic crisis - Scholz

All leaders of the Group of Seven rich democracies are concerned about a looming economic crisis as growth slows and inflation soars, German Chancellor Olaf Scholz said after a working session on the global economy at this year's annual G7 summit.

The Independent UK

Greedflation: Is price-gouging helping fuel high inflation?

Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits

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Wales Online

Retail expert answers questions on the cost of living crisis

40-year high in inflation and the consumer sentiment lows in a survey dating back around 50 years tells you these are very difficult times

The Guardian - UK

History turns full circle as G7 alarm bells ring over energy once again

First meeting in 1975 grappled with the oil shock – now it is Russia’s war in Ukraine creating angst

Reason

Biden Ignores His Own Role in Inflation

Stimulus checks, government spending, and Putin’s invasion of Ukraine are only part of the problem.

Asharq Al-Awsat

Ukraine, Hunger, Inflation: G7 Leaders Navigate Myriad of Crises

G7 leaders including US President Joe Biden gather on Sunday in southern Germany, seeking emphatic backing for Ukraine against Russia's invasion while grappling with the intensifying global fallout of the war. From soaring inflation to a looming food crisis and energy shortages, the conflict in Ukraine, now in its fifth…

The Independent UK

Biden, G-7 leaders huddle on energy, inflation, Ukraine war

President Joe Biden and his Group of Seven allies will huddle in the Bavarian Alps on Sunday to confer on strategies to secure energy supplies and tackle inflation

ABC News

Future make-up of RBA board a 'key consideration' going forward, says Federal Treasurer

Federal Treasurer Jim Chalmers throws his support behind calls for the Reserve Bank board to be more representative of the broader Australian community, following scathing criticism that it is out of touch with workers demanding wage increases.

The Guardian - AU

Jim Chalmers says inflation will go higher, but unions are right to push for higher wages

Treasurer says it is ‘uncontroversial’ for unions to note that wage rises are below inflation, and suggests there may be a place for workers’ representative on RBA board

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