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The Latest Breaking News from Inflation

McConnell sees swift Ukraine aid passage, backs NATO expansion

WASHINGTON — Senate Minority Leader Mitch McConnell said after a visit to Kyiv that he expects the Senate to pass a $40 billion aid package for Ukraine with broad bipartisan backing on Wednesday, and countered what he called the “isolationist voices” in his own party.

Tribune News Service

McConnell sees swift Ukraine aid passage, backs NATO expansion

WASHINGTON — Senate Republican Leader Mitch McConnell said after a visit to Kyiv that he expects the chamber to pass a $40 billion aid package for Ukraine with broad bipartisan backing on Wednesday.

Tribune News Service

Man has 'sobering experience' living off food bank parcel for three days

Ivan Morris Poxton wanted to get a first-hand experience of what struggling families are currently going through as the cost of living crisis deepens

Daily Mirror

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Houseboat industry in turbulent waters

Rising prices of fuels and essentials rock COVID-hit sector

The Hindu

NHS prescription prices frozen to help ease cost-of-living crisis

Health Secretary Sajid Javid has confirmed the fees which normally rise in line with inflation will not change this year

Liverpool Echo

Paul Keating attacks Coalition’s super for housing policy as economists warn of soaring prices

A Coalition plan to allow first-home buyers to use their superannuation to buy property has been slammed by Paul Keating as a "frontal assault" on super.

The New Daily

Biden’s midterm hopes bedeviled by signs of economy in distress

President Joe Biden’s hopes for a political reset have been overwhelmed by an unrelenting series of economic setbacks, adding to the challenges Democrats face as they court exhausted voters ahead of the crucial midterm election in November.

Tribune News Service

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Inflation on the rise in France, driven by rising cost of food and energy

Inflation is creeping up in France, as it is in many parts of the world, but economists point out that not all prices are increasing. However, consumers are feeling the pinch, because the products that are most impacted are daily necessities, like petrol and food.

Radio France Internationale

NHS prescription charges frozen amid cost of living crisis to 'put money back in people’s pockets'

Meanwhile, ministers have been resisting calls for a windfall tax on the profits of the energy companies which have been swollen by rising oil and gas prices

Manchester Evening News

Tory peer calls for welfare boost to counter cost of living crisis

Asda chairman Stuart Rose says universal credit uplift and honesty over Brexit are crucial to combat ‘national economic emergency’

The Guardian - UK

Australian prime minister launches campaign days before poll

Australia’s embattled prime minister has officially launched his conservative party’s campaign less than a week before elections, highlighting the nation’s early success in containing the pandemic and its strong economic recovery

The Independent UK

‘It screws with an already vulnerable mind’: How the cost of living crisis is affecting the nation’s mental health

Soaring bills and a lack of support from the government are causing ‘huge pressure’ for people with mental health problems, say campaigners

The Independent UK

Cambridge spies and Brexiters have a lot in common

As Simon Kuper points out in his excellent book, both groups betrayed us to Moscow – but the former did it deliberately

The Guardian - UK

‘Unstoppable until they aren’t’: are tech market losses signs of a bust?

Apple is no longer the most valuable company, Meta took a $230bn hit, Amazon reported its first loss since 2015, but a slump ‘is a big question mark’

The Guardian - US

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The Guardian - UK

Back to the bad old days of the 1990s as recession looms for UK

Inflation is set to jump to 9% this week when official figures are released, and fears of a slump are growing

Daily Mirror

NHS prescription charge frozen as desperate Tories scramble for cost of living help

This will be the first time in 12 years the cost of medicines has not gone up in line with inflation and will save around 58p on each prescribed item

The Independent UK

Prescription charges frozen as ministers grapple with cost-of-living crisis

Health Secretary Sajd Javid said the Government is ‘putting money back in people’s pockets’.

The Independent UK

Cabinet ministers ‘criticise Bank of England over rising inflation’

A senior minister said the Bank of England’s job is to keep inflation at two per cent

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The Guardian - AU

Demand for food relief soars as COVID, inflation and natural disasters pile pressure on the vulnerable

Australia’s major food banks are reporting huge need, with many who have never needed their services before reaching out for help

The Hindu

At Chintan Shivir, Congress talks about a ‘reset’ of economic policies

Questions of rising inequalities, extreme poverty among the bottom 10% of the population need to be addressed: Chidambaram

Benzinga

Bezos Slams Biden Over Inflation Tweet, Says Disinformation Board Should Fact Check President's Tweet

Amazon.com, Inc (NASDAQ: AMZN) Executive Chairman Jeff Bezos on Friday attacked President Joe Biden for his recent tweet on inflation and corporate taxation. On Friday, Biden tweeted about curtailing inflation by taxing large corporations in the U.S.

Tribune News Service

Ramesh Ponnuru: Republicans can extend their midterm inflation advantage

Inflation is likely to be the most powerful issue working for Republicans in this year’s congressional elections. Public concern over it has been rising fast. Republicans can plausibly blame the administration of President Joe Biden for making the problem worse by spending too much money on a pandemic stimulus program…

Reuters

India bans wheat exports as heat wave hurts crop, domestic prices soar

India banned wheat exports on Saturday days after saying it was targeting record shipments this year, as a scorching heat wave curtailed output and domestic prices hit a record high.

The Hindu

Sonia Gandhi chairs meeting of AICC top brass on next phase of Jan Jagran Abhiyan

The mass agitation programme Jan Jagran Abhiyan is to highlight issues like inflation, recession, unemployment rate, and farm distress

WEKU

4 things to know as cryptocurrencies such as Bitcoin (and stablecoins) melt down

Bitcoin and other cryptocurrencies are being caught up in the storm impacting all kinds of markets, including stocks. The plunge in a type of crypto called TerraUSD is raising special concern.

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