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The Latest Breaking News from Inflation

Unions on brink of ‘synchronised’ strikes, says RMT’s Mick Lynch

Railway workers leader predicts ‘massive response’ to impact of rapidly rising inflation on wages

The Guardian - UK

Philippine central bank delivers big rate hike

MANILA: The Philippine central bank on Thursday delivered another large interest-rate increase and signalled it has space to raise borrowing costs further to tackle broadening price pressures.

Bangkok Post

Tory leadership contests should be run faster, minister says

James Cleverly ‘happy if process was over more quickly’, as poll shows Liz Truss has big lead over Rishi Sunak

The Guardian - UK

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Four-month warning issued to anybody who drinks pints of beer

The cost of a pint is about to skyrocket

Liverpool Echo

LZ Granderson: Is the U.S. a mighty power? Trump's fall is a decision point

Last week the Biden administration announced what would be included in the 18th package of security aid from the U.S. to Ukraine. Worth $1 billion, it represents "the largest single drawdown of the U.S. arms and equipment to date," according to Colin Kahl, the undersecretary of Defense for policy. That…

Los Angeles Times

Commentary: The deceptive marketing of the 'Inflation Reduction Act'

The so-called Inflation Reduction Act is one of the greatest examples of deceptive marketing around today. Not only will the legislation fail to reduce inflation, it will further increase prices.

Tribune News Service

Ex-soldier dad of three explains stark choices his family makes as prices spiral

Harry says he had no idea how they will afford new uniforms ahead of the start of school in September. He says they don't have a single spare penny

Wales Online

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Asian stocks follow Wall St down after Fed inflation report

Asian stock markets have followed Wall Street lower after the Federal Reserve said U.S. inflation is too high, suggesting support for more aggressive interest rate hikes

The Independent UK

Free help for Dorset firms amid rising inflation and labour shortages

The special programme has been launched by Dorset Chamber and county’s Local Enterprise Partnership

Birmingham Post

Cost of living crisis: 'It is crucial the government takes action to support businesses'

Firms are now facing "myriad issues" including soaring energy bills caused by rising inflation, according to South West chamber of commerce Business West

Birmingham Post

Tory rivals warned tax cuts could worsen pressures on public spending

Truss defiant as Sunak seizes on stark IFS report to attack her economic plans

Wales Online

What the papers say – August 18

Britain being hit by the worst inflation crisis since 1982 and the stabbing death of an elderly man lead the mastheads.

The Independent UK

New ABS Data Has Shown Just How Fkd Wages Are Compared To Inflation So Let’s Dive Right In

Wages compared to inflation are very bad according to new data and in the past year our ability to buy things fell the most on record.

Pedestrian.tv

Bitcoin, Ethereum, Dogecoin Drop As FOMC Meeting Restores Worries: Analyst Warns We Could Be In For A 'Big Dump'

Top cryptocurrencies declined Wednesday evening as the global cryptocurrency market cap fell 2.4% to $1.1 trillion.

Benzinga

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The Independent UK

Republican senator tells constituents he supports $35 insulin cap, days after voting against it

Chuck Grassley voted against Inflation Reduction Act, which caps Medicare patients’ out-of-pocket costs, as well as an amendment to lower insulin costs for other patients

The Independent UK

Tory candidates warned over tax cut pledges amid worsening economic outlook

Frontrunner Liz Truss and rival Rishi Sunak have repeatedly clashed over competing visions for the UK economy.

The Independent UK

Tax cuts pledged by Liz Truss and Rishi Sunak not possible without slashing spending, economists say

Institute for Fiscal Studies criticises Tory leadership contenders for failing to be upfront about economic crisis

The Guardian - UK

UK’s 10% inflation casts doubt on Truss and Sunak’s tax cut promises

Soaring cost of living is forcing up government spending on benefits, pensions and debt leaving no spare cash to lower taxes

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news in one place.

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Evening Standard

Mary Portas hits out at government ‘sh*t show’ as high street businesses fear inflation

Former advisor to Tory prime minister calls the lack of action due to Truss v Sunak leadership contest ‘ridiculous’

Daily Record

Single mum living on one meal a day 'might need to start begging'

Kelly Thomson says she feels sick after seeing the new inflation rate announced today and doesn't know what she is going to do to survive.

ABC News

Qantas' takeover of FIFO airline hits roadblock, ASX slips as UK inflation surges to highest since 1982

The Australian share market snaps its three-day rally after a volatile session on Wall Street, consumer inflation in Britain surges to its highest level in 40 years, while the competition regulator flags concerns about Qantas' proposed takeover of Alliance Aviation.

Bangkok Post

TSTH mulls lowering Thai sales target

Falling demand for steel amid high inflation and weak purchasing power has led Tata Steel Thailand Plc (TSTH), a unit of India's largest steelmaker, to consider revising down its 2022 sales target.

Reuters

In Argentina, mass protests demand higher wages, lower inflation

Thousands of frustrated Argentines clogged downtown Buenos Aires on Wednesday in raucous street protests, demanding government action to boost salaries and unemployment benefits battered by surging consumer prices and a weakening peso currency.

Reason

The Pandemic Home-Building Boom Is Over

Builders are starting fewer new housing projects but housing construction rates remain steady. Experts say it's a product of inflation catching up with persistent supply chain problems.

The Guardian - UK

Inflation at 10%? This is class war – and it was years in the making

Austerity, Brexit and the cost of living crisis have been built on nonsensical misinformation, says Guardian columnist Zoe Williams

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