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The Latest Breaking News from Inflation

Decisive rate rise was needed: RBA's Lowe

Reserve Bank of Australia governor Philip Lowe has justified the decision to raise the cash rate by 50 basis points last week in the face of rising inflation.

AAP

This Alibaba Competitor Undertakes Aggressive Job Cuts Across Multiple Southeast Asian Markets

Sea Limited's (NYSE:SE) e-commerce arm Shopee laid off staff across multiple markets, DealStreetAsia reports. The layoffs to rationalize its e-commerce business encompassed several Southeast Asian markets, including Indonesia, Thailand, and Vietnam. Shopee's payments arm ShopeePay and food delivery business ShopeeFood also faced cuts. The competitor of the Alibaba Group Holding Limited (NYSE:BABA) hosted a general…

Benzinga

Egypt Launches Development Projects to Overcome Ukrainian War Impact

The Egyptian government seeks to overcome the impacts of the Russian-Ukrainian war, that led to a surge in inflation rates globally, through various development projects. President Abdel Fattah al-Sisi inaugurated on Monday the integrated animal, dairy production complex and mechanized slaughterhouses in Sadat City in Menoufia Governorate. He affirmed in…

Asharq Al-Awsat

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S&P 500 in bear market as inflation fears fuel sell-off

Wall Street had one of its worst days in recent weeks on Monday as a worse-than-expected US inflation figure last Friday fuelled concern about more aggressive rate hikes to come from the Federal Reserve. Cryptocurrencies also continued to tank after a lender froze withdrawals. Plus, as Europe looks to bolster…

France 24

8 bargains hidden inside ugly inflation report

Buzz: With inflation running at a 40-year high — an ugly 8.6% nationally — one would think everything is pricier. Actually, 93% of the 333 items tracked in the monthly inflation report were more expensive in May than they were a year ago.

The Orange County Register

Pay crunch gives Bank of England tough call on interest rates

Bank to put rates up on Thursday, City expects

Evening Standard

Reserve Bank governor Philip Lowe warns it is unclear how high interest rates will go

Philip Lowe has warned Australians they need to be prepared for substantial interest rate rises over the rest of this year, conceding he is not sure how high they might go.

ABC News

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Why some of the country's top CEOs fear a recession is coming

The Fed will continue raising interest rates this week as inflation continues to soar. Some CEOs worry the fight to bring prices under control could end up sparking an economic downturn.

WEKU

Commentary: Bring back the child tax credit

Amid the ongoing coronavirus pandemic and increased inflation, 15% of households with children reported food insufficiency in March and April of this year. Food insufficiency — defined as when individuals sometimes or often do not have enough food to eat in the past week — poses short- and long-term moral…

Tribune News Service

ASX plunge: Here's what's happening in the Australian share market and why we're talking about recession again

There are fears we could be on the verge of another global recession and investors are spooked.

ABC News

Wholesale price inflation surged to new high of 15.9% in May

This is the 14th month in a row that wholesale price inflation in India has stayed above the 10% mark

The Hindu

Brits get shock in their pay packets as inflation soars

Regular wages down when rising prices taken into account

Wales Online

Average UK wages fall at fastest rate for more than two decades

Inflation and soaring energy bills cause squeeze on living standards, as unemployment rises slightly

The Guardian - UK

Pound slides against dollar and euro; falling real wages mean ‘year of pain’ – as it happened

Sterling is hit by fears over slowing economy, tensions over Northern Ireland protocol, and push for new Scottish referendum

The Guardian - UK

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Evening Standard

Cost of living crisis: Real-terms income falls as squeeze tightens

Pay excluding bonuses was up 4.2% - far below the rate of inflation

Asharq Al-Awsat

Asian Stocks Sink again as Inflation Panic Grips World Markets

Equity markets tumbled again Tuesday to extend a global rout fueled by fears of recession, with the Federal Reserve preparing to ramp up interest rates as inflation shows no sign of slowing. Panic has swept through trading floors since data on Friday showed US consumer prices rising at their fastest…

The Independent UK

US futures point to a bear market; here’s what that means

Wall Street looks like it will open the week with more losses, with the S&P 500 falling to a level that market observers consider to be a so-called bear market

The Independent UK

Asian benchmarks decline after bear market hits Wall Street

Asian shares fell across the board after Wall Street tumbled into what’s called a bear market, indicating that major U.S. benchmarks and individual stocks have fallen 20% or more from a recent high for a sustained period of time

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The Independent UK

Treasury bond yield inversion raises worries over recession

One of the more reliable warning signals for an economic recession is shining alarmingly brighter

The Guardian - AU

ASX: Australian stocks close almost 3.6% down after global sell-off on inflation fears

Benchmark ASX200 index closes 246 points lower, after falling 360 points in the first 15 minutes of trading on Tuesday

The Independent UK

Boris Johnson suggests no tax cuts until ‘spiralling’ inflation under control

‘We can’t do anything that inflames that further,’ No 10 source says

Axios

U.S. inflation rate is in the middle of the pack globally

Americans aren't alone in experiencing sky-high gas and food prices.

ABC News

ASX down nearly 4 per cent after Wall Street sell-off on inflation fears, S&P 500 falls into bear market

Australian, US and global stocks are dumped by investors as they worry more aggressive interest rate rises by the US Federal Reserve could tip the global economy into recession.

Tribune News Service

Wall Street sours on S&P as margin woes rattle Corporate America

Wall Street is afraid to buy the dip this time around.

Benzinga

Here's How Much $100 Invested In Bitcoin Today Will Be Worth If It Hits All-Time Highs Again

Cryptocurrencies are crashing in value with fear of higher inflation and holders liquidating positions. Here’s a look at how much a small investment in a leading cryptocurrency could be worth if all-time highs are hit once again.

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