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The Latest Breaking News from Inflation

Ramesh Ponnuru: Biden's no FDR. He's not even Obama

Democrats have every right to be pleased that they passed another big spending bill, but a lot of them are getting carried away. Longtime Democratic consultant Robert Shrum celebrated the momentum behind the passage of the so-called Inflation Reduction Act by tweeting, “Biden is the most legislatively successful President since…

Tribune News Service

North East policy leaders warn of 'difficult times' for firms and communities as unemployment figures are published

'Without intervention, we can expect a difficult economic situation,' North East LEP CEO Helen Golightly warns

Birmingham Post

Four economists on ways to tackle UK cost of living crisis

Political leaders from all major UK parties have put forward proposals to relieve the cost of living crisis this winter

Wales Online

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Rishi Sunak: Next PM must protect the pounds in workers’ pockets

Commuters face huge year-on-year hikes in train fares unless “eye-watering” inflation is brought under control, Rishi Sunak warned on Tuesday.

Evening Standard

Thousands of Nationwide staff to receive £1,200 bonus payment to help with cost of living

The one-off payment will be for staff at the building society who earn £35,000 or less a year

Birmingham Post

Exactly how much of a pay rise you would need today to keep up with inflation

Those working in construction would need to see a pay rise of £3,074, the average nurse would need an additional £3,138 per year and the average teacher needs to earn £3,331 more

Wales Online

Sadiq Khan: Ministers must not link Tube fares to soaring inflation

Ministers must recognise Londoners are worried how to make ends meet, Sadiq Khan says

Evening Standard

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GMB Union slams Amazon pay offer as 'joke' as inflation drives record wage slump in UK

New figures from the Office for National Statistics show pay is failing to keep up with the cost of living

Birmingham Post

Why are gas prices still high despite oil getting cheaper – and what will happen next? Energy expert Q&A

While thermometers have been well into the red across the northern hemisphere, people are panicking about the cost of energy bills once winter starts to bite. According to the latest forecasts in the UK, the minimum price cap for households’ electricity and heating costs is set to more than double…

The Conversation

Best ‘safe haven’ investments

Looking for alternatives to volatile markets? We’ve taken a look at the best safe haven investments offering lower risk than stocks and shares.

Evening Standard

Shoppers face £533 increase on food as grocery bills rise at fastest rate since 2008

Research firm Kantar has revealed grocery price inflation jumped to 11.6% for the four weeks to August 7.

Daily Record

Homeowners warned interest rates could rise by further 0.5% next month

Millions of homeowners were warned on Tuesday that the Bank of England’s monetary policy committee could raise interest rates by a further 0.5 per cent next month - hiking their mortgage payments.

Evening Standard

Best funds to beat inflation

We’ve identified the five best funds for investors with different risk profiles to consider at a time when inflation is running hot.

Evening Standard

Drought will push food prices even higher, warns supermarket boss

Britain’s drought is going to push up food prices even higher than the 11.6 per cent rise costing shoppers more than £530 extra a year, a supermarket boss warned on Tuesday.

Evening Standard

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The Guardian - UK

Annual grocery bills in Great Britain will soar by £533, experts predict

Basics such as butter, milk and poultry show biggest increases in figures from market research group

The Hindu

Wholesale price inflation slips below 14% for the first time since February

Fuel and power inflation resurge in July; diesel inflation at 72.4%

Tribune News Service

Editorial: The Inflation Reduction Act is key: In praise of its sweeping investments and deficit reduction

One of the most important features of the Inflation Reduction Act — which makes massive investments in renewable energy to curb climate change, drives down prescription drug costs and more — is what it is not: an irresponsible spending spree pushing up the federal deficit.

Tribune News Service

Commentary: Stop scapegoating the IRS

The ink is barely dry on the recently enacted Inflation Reduction Act, which allocates $80 billion over 10 years to help modernize IRS technology systems and provide more effective tax enforcement and collection. Yet already, Republican critics like Sen. John Thune of South Dakota are complaining that the needed funds…

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Tribune News Service

For medically vulnerable families, inflation’s squeeze is inescapable

ROSAMOND, Calif. — Deborah Lewis rose from bed before dawn and signed in to her phone so she could begin delivering fast food, coffee, and groceries to residents in this western patch of the Mojave Desert where test pilot Chuck Yeager broke the sound barrier generations ago.

The Times of India

WPI inflation eases to 13.93% in July from 15.18% in June

NEW DELHI: The wholesale price-based inflation eased to 13.93 per cent in July on easing prices of food articles and manufactured products.

Insider UK

Workers face record pay slump against surging inflation

Latest figures show a 4.1% drop in regular pay once inflation is taken into account - the biggest fall since records began

The Independent UK

Asian shares mostly higher, echoing Wall Street rebound

Asian shares are mostly rising after a rebound on Wall Street, despite regional investor risks reflected in negative economic data out of China

The Guardian - UK

UK wages in June fall at fastest rate for 20 years

Real pay continues to be outstripped by soaring inflation amid a continuing cost of living crisis

Daily Mirror

Workers' pay falls at record levels as Tories 'have lost control of the economy'

Boris Johnson is on his second holiday in a fortnight as Brits are facing a deepening cost of living crisis. Between April and June, regular pay slumped by 3% when taking skyrocketing inflation into account, according to official statistics.

The Guardian - UK

UK real pay falls by record 3%, as job vacancies also decline – as it happened

UK wages adjusted for inflation decline at fastest rate in 20 years, while job vacancies fall, as average annual grocery bill is set to jump by £533 to £5,128

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