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The Latest Breaking News from Inflation

OPEC+ to decide oil output to world amid high inflation

The OPEC oil cartel and its allies are meeting to decide how much oil to produce in September

The Independent UK

Turkish Inflation Hits Almost 80%, Peak Might Be Near

Turkish inflation rose to a fresh 24-year high of 79.6% in July, data showed on Wednesday as the lira's continued weakness and global energy and commodity costs pushed prices higher, though the price rises came out below forecasts. Inflation began to surge last autumn, when the lira slumped after the…

Asharq Al-Awsat

In Sri Lanka, inflation means food shortages, blackouts — and days-long lines for gas

Sri Lanka offers a cautionary tale for countries struggling with inflation. Anger over fuel lines spilled into the streets and toppled a government. Will nationalism surge, or unity prevail?

WEKU

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The Inflation Reduction Act and Your Taxes: What to Know for 2025

The Inflation Reduction Act increased IRS funding, changed tax policy, and offered new and expanded tax credits.

Kiplinger

Binders, backpacks... and inflation are on this year's back-to-school shopping list

This year's back-to-school shopping season lands in the middle of the highest inflation in four decades — how will this affect spending?

WEKU

Editorial: It’s not time to panic — yet — about the nation’s economic woes

Any good financial adviser will tell his novice clients to refrain from checking the stock market every day to see how their investments are doing. It’s the long term that counts, not the volatility of daily buying and selling on the exchanges. That same caution should be applied to trying…

The Philadelphia Inquirer

Commentary: It’s time to raise the federal minimum wage

Inflation is a big problem these days. Prices are rising for everything from bacon to rent to hotel rooms. And while the Federal Reserve announced aggressive measures to curb costs last week, not all economists believe this is the best approach for helping working people.

Tribune News Service

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Commentary: As Americans reel from stagflation, Manchin pitches tax hikes

Stagflation is here. Inflation notched a fresh 40-year high of 9.1 percent in June, and the economy shrank in the first and second quarters of the year.

Tribune News Service

World’s food supply faces new threat

Rice could emerge as the next challenge for global food supply as a shortage of rain in parts of India, by far the world’s biggest exporter, has caused planting area to shrink to the smallest in about three years.

Bangkok Post

Corporations' profits soaring as inflation skyrockets and real wages fall, report reveals

There are fresh calls for Australia's biggest corporations to rein in record profits in order to provide low wage earners with some cost-of-living relief.

ABC News

Opec+ agrees small oil output rise in rebuff to Biden; UK inflation ‘could hit 15%’ – as it happened

Oil producers will lift oil production by 100,000 barrels per day in September, a much smaller rise than in recent months

The Guardian - UK

UK inflation will soar to ‘astronomical’ levels over next year, thinktank warns

The rise will force the Bank of England to hike interest rates higher and for longer than previously expected, says NIESR

The Guardian - UK

World’s food supply faces new threat from lack of rain in India

NEW DELHI: Rice could emerge as the next challenge for global food supply as a shortage of rain in parts of India, by far the world’s biggest exporter, has caused planting area to shrink to the smallest in about three years.

The Times of India

WA unions plan rally despite pay offer

Western Australia's government is set to face further pressure from public sector workers despite having offered them an improved wages deal.

AAP

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ABC News

WA unions warn of more industrial action as they reject McGowan government's latest wage offer

Hundreds of public sector workers brave strong winds and rain to rally for better pay as unions denounce the state government's revised wage offer as a "one-off sugar hit".

Daily Mirror

Millions of Brits to be hit by 'recession with poorest areas affected most'

The UK is set to head into recession according to the National Institute of Economic and Social Research which also predicts that it will be the poorest areas that will be worst affected

StockNews.com

Bear Market Rally or New Bull Market Emerging?

Is the bear market officially over? Or this just another in a long history of bear market rallies that trick investors to get on board just before the next leg lower for stocks (SPY)? That is the key question at this moment that 40 year investment veteran Steve Reitmeister goes…

Wales Online

Stagflation 'nightmare' as recession warning issued to millions of UK households

Millions of the most vulnerable households will be hit, warns economic report

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The National (Scotland)

One in five Scots households faces savings wipe out

A FIFTH of Scots households will have their savings wiped out by the soaring cost of living by 2024, a new report warns.

The Independent UK

Stagflation warning as UK ‘set to enter recession’

The National Institute of Economic and Social Research said the threat of stagflation has returned for the first time since the 1970s.

StockNews.com

3 Energy Stocks That Could Benefit From the Manchin Bill

Senator Joe Manchin recently hailed the Inflation Reduction Act of 2022, addressing the nation’s high inflation through energy and climate spending, deficit reduction, prescription drug reform, and clean energy tax credits. We think fundamentally sound energy stocks FirstEnergy (FE), Via Renewables (VIA), and Natural Gas Services (NGS) are well-positioned to…

StockNews.com

3 Luxury Goods Stocks That Are Still Buys Amid High Inflation Levels

Despite persistently high inflation levels, the luxury goods industry is expected to grow significantly this year, driven by sustained luxury spending, growing media influence, and integration of e-commerce platforms. Thus, we think fundamentally sound luxury goods stocks Ralph Lauren (RL), J.Jill. (JILL), and Movado (MOV) could be ideal additions to…

France 24

DR Congo to reassess withdrawal plan for UN peacekeeping mission

In tonight's edition: After dozens of deaths during last week's violent demonstrations against the United Nations, DR Congo's government reexamines the withdrawal plan for the UN's MONUSCO mission. Also, the head of al Qaeda, Ayman al-Zawahiri, was killed in a US drone strike on Sunday. He helped mastermind terror attacks…

The Philadelphia Inquirer

Inflation is hitting ACA health insurance plans in Pennsylvania

Pennsylvanians who plan to shop later this year on the state’s Affordable Care Act exchange are unlikely to find shelter from the inflation that has engulfed other areas of the economy, according to a preview offered Monday by the Pennsylvania Insurance Department.

The Guardian - AU

The Reserve Bank has to navigate a path away from inflation but the economic signals are months old

While backward-looking labour market data is still robust, property prices provide a taste of the deteriorating outlook

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