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The Latest Breaking News from Inflation

Jerome Powell Tells Congress The Fed Is 'Moving Expeditiously' To Fight Inflation

Federal Reserve Chair Jerome Powell rehashed the central bank's desire to cool down inflation on Wednesday as part of a congressionally mandated semiannual report on monetary policy.

Benzinga

Food and fuel fire highest inflation for 40 years

Good news! The rate by which prices are rising is increasing but by less than in previous months. Yes, that still takes inflation (9.1 per cent) to a 40-year high and sure, the Bank of England is forecasting 11 per cent by the autumn. But you take your wins where…

Evening Standard

Without a proper plan, stagflation will be the least of Britain’s problems

Rising prices and recession mean the last thing the government should do is muddle through and leave everything to the market, writes economics editor Larry Elliott

The Guardian - UK

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3 Falling Stocks That Aren't Likely to Rebound Anytime Soon

Rising inflation and the Fed’s potential interest rate hikes to control it, combined with other economic uncertainties, have led to massive stock market sell-offs. Consequently, many fundamentally weak stocks have lost significantly. Carnival Corporation (CCL), NIO Inc. (NIO), and Shopify (SHOP), which are down more than 30% year-to-date, may not…

StockNews.com

Energy bills to soar to cover costs of suppliers going bust as inflation hits 9.1%

Back in September, over 30 energy firms collapsed under the pressure of the energy crisis. Now households are being warned that they will be charged to cover the cost.

Glasgow Live

DWP ‘broken’ benefit cap could see 35,000 more families miss out on extra money next April

If the benefit cap was uprated with inflation, awards would be £3,670 higher than they are now.

Daily Record

Pay rises in line with inflation ‘reckless’, says Downing Street

Workers asked to accept below-inflation pay hikes while pensions and benefits set for double-digit rise

The Independent UK

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Winnebago Industries Q3 Earnings Top Estimates; Warns On Inflation Pressures

Winnebago Industries Inc (NYSE:WGO) reported third-quarter FY22 sales growth of 52% year-on-year, to $1.46 billion, beating the consensus of $1.20 billion. Towable segment revenue grew 45% Y/Y to $805.6 million, driven by pricing increases and solid unit growth due to a strong dealer order backlog. Motorhome revenue of $516.3 million increased 34% Y/Y.…

Benzinga

Powell: Fed will decide on rate hikes 'meeting by meeting'

Federal Reserve Chair Jerome Powell underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession

The Independent UK

Teachers strike looms if inflation busting pay demands are not met

Teachers are facing a ‘huge pay cut’ in reality, union says

Evening Standard

UK inflation: South West firms fear going bust amid cost of living crisis

Small businesses across the region have urged the Government to provide more support as prices continue to rise and consumer spending is squeezed

Birmingham Post

Teachers threaten strike action this autumn if above-inflation pay rise demand is not met

The National Education Union is demanding action from the Government to address the ‘profound crisis’ in teaching

Chronicle Live

Charting a grim historical note as inflation tops 9%

Last time inflation was this high Tight Fit topped hit parade with ‘The Lion Sleeps Tonight’

Evening Standard

Opinion: Possible Tariff Rollback Won’t Alter U.S. Strategy to Contain China

As the U.S. stares down record inflation, it plans to ‘outcompete’ China in key areas

Caixin Global

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Daily Record

Boris Johnson told 'get on with the job' by Keir starmer as country faces more rail strikes and soaring inflation

At Prime Minister's Questions, the Tory leader came under fire for his handling of the economy and the rail strikes.

The Times of India

RBI governor flags continued high inflation as 'a major concern': MPC minutes

MUMBAI: RBI governor Shaktikanta Das has cautioned that continued high inflation is a major concern for the economy, even as economic activities are gaining traction while voting for a 50 basis points hike in key interest rate to check price rise earlier this month, as per minutes of the meeting…

Daily Mirror

No10 brands a real pay rise for 5million Brits 'reckless' as Summer of Discontent looms

Downing Street suggested an across-the-board pay rise for public sector workers with inflation - which hit 9.1% today - would be 'reckless' because it would drive up prices even further and make their money 'worthless'

Evening Standard

What can households do to ease pressure of soaring inflation during the cost-of-living crisis?

Citizens Advice, run by highly trained volunteers, are available to assist people with debt, legal and housing problems

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Benzinga

Bombardier's Workers On Key Program Vote On Contract Offer Today: Reuters

Bombardier Inc (OTC:BDRBF) (OTC:BDRBD) workers on a key program for the Canadian business jet maker will be deciding today whether to accept a new contract offer or walk off the job, reported Reuters. According to the letter seen by Reuters, Bombardier had offered its workers on a key jet program a new…

Benzinga

Union Rejects Rolls Royce's Inflation Bonus: All You Need To Know

A union representing Rolls Royce Holdings plc (OTC:RYCEY) workers in the U.K. rejected the company's offer of a £2,000 one-off payment to beat the crippling inflation, the BBC reports. The offer also included a 4% pay hike. The union known as Unite argued that the offer "falls far short of the real cost…

StockNews.com

Which Stocks Should You Consider As Recession Hits Retail?

Retail companies have faced multiple headwinds of late, including multi-decade high inflation and persistent supply chain disruptions. With recession fears looming, many retail companies have lowered their guidance for the current year. However, not all stocks are expected to be weighed down by the recession. Kroger (KR) has raised its…

The New Daily

Superannuation funds set for worst returns since global financial crisis

Superannuation funds are set to record their worst performance since the GFC as sharemarkets plunge due to high inflation and rising interest rates.

France 24

Inflation in Turkey: Researcher won’t hide the figures Erdogan doesn’t want to see

In May the official Turkish statistics institute established the inflation rate at 73.5 percent, the highest in the country since 1998 – a figure ENAG, an independent group of researchers, immediately disputed. It puts the real rate at around 160.80 percent. The director of the organisation became the target of…

Evening Standard

The Standard View: Inflation returns to the centre of politics, with more pain on the way

Such has been the deteriorating economic picture over the last six months that today’s headline rate of inflation — 9.1 per cent — can be placed in the “not as bad as feared” box. Yet it still means prices are rising at their highest rate for 40 years, and material…

Daily Mirror

Asda shoppers ask cashiers to stop scanning at £30 because of major money fears

Asda chair Lord Stuart Rose said more customers are conscious of what they're spending and said many are switching to budget ranges to save money as part of a “massive change in behaviour”

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