The Latest Breaking News from Inflation

A "summer of discontent" with empty supermarket shelves and petrol stations running dry is feared if a rail strike takes place as unions ask for a pay rise to keep in line with inflation

Rising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy are all punishing stocks and raising fears about a possible U.S. recession.

Which? analysis finds cereal, mushrooms and cheese among the items to have risen the most

Prices rose at the same time as the availability of supermarket discounts and budget ranges – upon which consumers are increasingly relying – fell.

The cost of food has been going up, but now an investigation by consumer group Which? has found many have risen by 20%, as well as supermarkets offering fewer discounts

Across 20 categories of groceries, fizzy drinks saw the biggest average price rise at 5.9%, followed by butters and spreads

California's minimum wage is likely to rise to $15.50 an hour in January because of inflation, said Gov. Gavin Newsom on Thursday.

Australia's Labor Party was set to end almost a decade of conservative rule as the government was swept away in Saturday's election by a wave of support for candidates who campaigned for more action on climate change and may hold the balance of power.

Multi-decade-high inflation and aggressive Fed rate increases might push the economy into a recession. So, investors looking to mitigate a market downturn should invest in Dollar Tree (DLTR) and Vertex Pharmaceuticals (VRTX), as they could deliver stable returns because their businesses enjoy a near-inelastic demand.

Recap: Global shares moved higher on Friday but were still heading for losses compared with a week earlier as investors remain worried over high inflation and an economic slowdown.

U.S. stocks pulled back from session lows after the S&P 500 dipped 20% below its Jan. 3 closing record. Treasuries and the dollar gained as havens caught bids.