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The Latest Breaking News from Inflation

Maharashtra: Liquor companies seek hike in prices of IMFL & wines

MUMBAI: The liquor industry, especially those selling Indian made foreign liquor (IMFL) and wines, have requested the state to allow them a hike in prices in the range of Rs 85 to Rs 125 per 750 ml bottle, depending on the respective segments and brands. This they claim is a…

The Times of India

NatWest survey shows East Midlands economy contracting

However job numbers up and rate of cost inflation said to have eased to ten-month low

Birmingham Post

Biden, Democrats look for midterm boost from breakthrough bill

President Joe Biden and his party finally scored the win they’ve been waiting for heading into the November congressional elections, but it’s uncertain it will be enough to save them from the nation’s sour mood over inflation.

Tribune News Service

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City workers get double-digit wage rises while lowest-paid see 1% increase

Report finds ‘tale of two labour markets’ as workers in London’s financial district enjoy inflation-busting increases

The Guardian - UK

Two-thirds of UK’s top restaurants in the red after Brexit, Covid and inflation

Meanwhile £700m of support funds in business rates relief remains unpaid by local councils

The Guardian - UK

Firms 'holding on to hopes that demand lull is temporary': NatWest issues inflation warning amid 'modest' growth

The amount of new business placed with firms in the North West fell during July

Birmingham Post

North East business activity falls at fastest rate in 18 months, survey says

NatWest North East Business Activity Index measures changes in the region's manufacturing and service sectors

Birmingham Post

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Yorkshire and Humber business activity falls to lowest level in 18 months

The NatWest Business Activity Index measures the output of the region’s manufacturing and service sectors

Birmingham Post

'Increasingly gloomy outlook' for South West firms as rising inflation bites

Business activity in the region was "muted" in July

Birmingham Post

US Senate approves bill to fight climate change, cut drug costs

Estimated $430bn economic package aims to slow climate change, control medicine costs, and raise corporate taxes.

Al Jazeera

US Democrats pass massive clean-energy, healthcare spending bill hoped to tackle inflation

The US Senate has passed a sweeping $US430 billion bill intended to fight climate change, lower drug prices, and raise some corporate taxes.

ABC News

Borrowers prepare to take a hit

Some business sectors are concerned about the effect of the Bank of Thailand's anticipated interest rate hike on companies and the public, while related private and state organisations have vowed to do their best to mitigate the impact.

Bangkok Post

Sri Lanka syndrome: Is Bangladesh out of danger?

With global inflation rising and the fear of fuel and food crises looming large, clouds are gathering on the economic horizon of South Asian countries. Sri Lanka in particular remains mired in a crisis driven by a mix of high indebtedness, soaring inflation and poor economic management.

Bangkok Post

Inflation Reduction Act passes Senate

"I ran to make government work for working families again. That’s what this bill does — period," says Biden

Salon

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ABC News

From French lessons to food delivery, record numbers of young people are finding side hustles to make ends meet

As rents and prices get hiked, record numbers of young people are having to find side hustles to make ends meet. Here's what some are doing.

ABC News

In New Zealand wages are growing. Will Australian workers' pay packets get a bump?

There are hints that wages are going up — helping workers meet the cost of soaring inflation for food, fuel and essentials. But you might have to quit your job to get a raise.

Chicago Sun-Times

Senate Democrats approve big Biden deal; House to vote next

The estimated $740 billion package heads next to the House, where lawmakers are poised to deliver on Biden’s priorities.

Axios

Senate Democrats pass $740 billion tax, climate and health care bill

The 51-50 passage of the Inflation Reduction Act, just three months before the midterm elections, is a massive victory for Democrats.

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The Guardian - US

US Senate passes $739bn healthcare and climate bill after months of wrangling

Inflation Reduction Act will reduce planet-heating emissions and lower prescription drug costs – and give Biden a crucial victory

The Hindu

Focused on inflation: On the RBI’s rate hike

A rate increase was needed to prevent inflation expectations from stymieing growth

Tribune News Service

Daly says Fed is ‘far from done yet’ on bringing inflation down

San Francisco Fed President Mary Daly suggested a 50 basis-point rate increase isn’t locked in at the U.S. central bank’s next policy meeting, saying the Federal Reserve is “far from done yet” in bringing down inflation.

The Guardian - UK

Interest rate rise will be as useful as medieval bloodletting

Letter: The Bank of England’s recent rate increase will do nothing to curb inflation, says Jean-Claude Fouque

Newsroom.co.nz

Markets charge higher despite the prospect of further rate hikes

The NZX50 records its first weekly ‘three-peat’ in a year, notching up a third consecutive week of gains to close at a 3-month high

The Independent UK

Joe Manchin defends Inflation Reduction Act after Bernie Sanders says it will do little to address inflation

“This is not Bernie's bill,” the West Virginia Democrat tells The Independent.

Salon

Harris breaks deadlock in “vote-a-rama”

The Senate worked through the night making steps on the bill that will then go on to Biden to sign into law

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