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The Latest Breaking News from Inflation

Biden to meet with Powell to discuss economy as inflation bites

WASHINGTON — President Joe Biden will hold a rare Oval Office meeting on Tuesday with Federal Reserve Chair Jerome Powell amid the highest inflation in decades, which has angered Americans and hurt his standing with voters.

Tribune News Service

Reserve Bank takes on fuel prices in readiness for a climate change remit

The central bank is looking to balance its obligation to manage inflation with the necessary costs of cutting emissions, in consultation on its remit.

Newsroom.co.nz

As food and fuel costs rise, there is no doubt the poorest are hardest hit

Inflation watchers may disagree on the details, but consensus is that higher prices will persist

The Guardian - UK

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UK food prices soar with pasta now costing 50% more - see list of biggest rises

Homes on a budget are finding it harder than ever to save money, as the Office for National Statistics reveals that even cheaper foods like pasta and rice are going up in price

Daily Mirror

How much prices have risen in Asda, Co-op, Iceland, Morrisons, Sainsbury’s, Tesco and Waitrose

Pasta prices have risen the most, followed by crisps, bread, mince and rice

Chronicle Live

Brent crude rises above $120 a barrel as UK fuel prices hit record highs

Price increases on global oil markets and at UK forecourts add to concerns about rising inflation and its impact

The Guardian - UK

These are the foods most impacted by inflation, according to ONS

Experimental research has shown that price inflation of some low-cost food items far exceeds the average rate.

The National (Scotland)

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8 years, 8 indicators: How economy fared under Modi government

NEW DELHI: Prime Minister Narendra Modi-led BJP government embarked upon their journey in 2014 to create an India that is self-sufficient in all aspects and where all sections of the society have access to basic amenities.

The Times of India

Ghana's debt: the pros and cons of borrowing abroad versus at home

A government which decides to borrow – either because it has programmed a budget deficit or needs to refinance maturing debts – faces two, non-mutually exclusive possibilities: borrow domestically in the local currency or borrow externally in a foreign currency.

The Conversation

Analysis: The ‘satchetisation’ of Africa’s largest economy

High poverty rates in Nigeria have led many businesses, including those in tech, to adopt sachet marketing to survive.

Al Jazeera

Comptoir back in black but warns of coming hit

Lebanese restaurant group Comptoir marked a return to profitability in 2021 but warned inflation and withdrawal of government support would hit profits in the coming months.

Evening Standard

Inflation genie is well and truly out of the bottle

Brent Crude touching $120 for the first time since March will trip economy red warning lights

Evening Standard

High inflation, financial mismanagement synonymous with eight years of Modi government: TMC

The NDA government, headed by Prime Minister Modi, completed eight years in power on Monday

The Hindu

Oil price tops $120 a barrel as EU closes on Russian crude ban

The latest jump follows a 6% rise last week raising further inflation fears

Evening Standard

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The Guardian - UK

Pasta, bread and crisps among biggest UK budget food price increases

New way of gathering figures by ONS highlights cost of living pressures on struggling households

Wales Online

Exactly how much Asda, Co-op, Iceland, Morrisons, Sainsbury’s, Tesco and Waitrose prices have gone up

Pasta prices have risen fastest, according to official figures, followed by crisps, bread, mince and rice

Evening Standard

Fears of squeeze on poor households as survey reveals everyday food products soaring in cost

New statistics follow calls from food poverty campaigner Jack Monroe for an overhaul in how inflation is measured

The Independent UK

Prices for cheapest pasta soar 50% as inflation hits poorest households

Official statisticians said that the prices of the cheapest bread and rice also rose significantly in the last year.

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The Guardian - UK

Almost 500,000 UK small businesses ‘at risk of going bust within weeks’

Federation of Small Businesses calls on Rishi Sunak for more support to deal with ‘ticking timebomb’

The Guardian - UK

This age of inflation reveals the sickness ailing Britain’s economy: rentier capitalism

Profits have become all-but guaranteed for wealthy elites, says economist William Davies

Evening Standard

FTSE 100 Live: Oil price rises as China eases Covid curbs, Bitcoin above $30,000

China’s easing of Covid curbs and hopes that inflation in the US may be near its peak helped lift the mood for European markets today.

ABC News

Miner, tech shares lift ASX higher; AGL tumbles on demerger collapse; ACCC sues Mastercard

Australian shares have risen, led by gains in technology stocks tracking a Wall Street rally and mining stocks on new strength in commodity prices, while AGL Energy fell on withdrawing plans for its demerger.

The Guardian - AU

Colombia presidential election: leftist former guerrilla and populist outsider head to runoff

Rivals Gustavo Petro will face Rodolfo Hernández on 19 June amid growing discontent over inequality and inflation

France 24

Colombia presidential election: Leftist Petro and populist Hernandez headed for run-off

The early vote count in Sunday’s six-way presidential election in Colombia pointed toward a run-off in June, with leftist former rebel Gustavo Petro leading in a ballot held amid growing discontent over increasing inequality and inflation.

Bangkok Post

Don't turn off the tap just yet

Whether the government should bid farewell to economic stimulus measures became a source of debate after the topic was raised by an economist at Thailand Development Research Institute (TDRI).

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