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The Latest Breaking News from Inflation

Myths about generous benefits mask the truth of Tory Britain: shamefully low taxes for the rich

Until a hero like Marcus Rashford forces people to confront the reality of hungry children, misinformation and complacency about the lives of the poorest reign, says Guardian columnist Polly Toynbee

The Guardian - UK

Inflation Hits Record 8.9% in 19 Countries Using the Euro

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by Russia's war in Ukraine, but the economy still managed some meager growth. Annual inflation in the eurozone’s 19 countries rose to 8.9% in July, an increase…

Asharq Al-Awsat

U.S. Stock Futures Higher; Apple, Amazon Surpass Estimates

Pre-open movers

Benzinga

From analysis to the latest developments in health,
read the most diverse news in one place.

This Healthcare Stock Tumbled 43%; Here Are 88 Biggest Movers From Yesterday

Gainers Athersys, Inc. (NASDAQ: ATHX) climbed 71.1% to close at $0.3250 on Thursday after gaining 10% on Wednesday. Athersys is expected to release its Q2 financial results on Thursday, August 11, 2022.

Benzinga

South West business confidence lowest in UK, survey finds

Firms in the region battling inflation registered the lowest reading on the Business Barometer from Lloyds Bank Commercial Banking for a second consecutive month

Birmingham Post

Spain inflation highest since 1984; new record for eurozone area

European countries facing inflation surge due to fallout from Ukraine war and reopening of economies after lockdowns.

Al Jazeera

How Inflation Impacts Your Taxes

The impact of inflation on federal income tax brackets and some other tax credits might not be all bad.

Kiplinger

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Commentary: Reality’s revenge: The return of stagflation

The clinical psychologist Jordan Peterson has said that you can bend reality only so far before it snaps back at you. In short, bad actions always ultimately have negative consequences.

Tribune News Service

Drivers’ strike to cause severe disruption to rail services

Members of the drivers union Aslef at seven train operators will walk out for 24 hours over pay on Saturday.

The Independent UK

Inflation hits record 8.9% in 19 countries using the euro

Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices driven partly by the war in Ukraine

The Independent UK

Trump’s ‘Stop the Steal’ allies are back on the ballot in Pa., and could win more power over the next election

PHILADELPHIA — The summer hearings on the Jan. 6 riot have reinforced the direct line between Pennsylvania and the attack that tried to subvert American democracy.

The Philadelphia Inquirer

Economy eclipses other issues in UK Conservative contest

Britain’s next prime minister will take office amid turmoil: galloping inflation, a war in Ukraine, souring relations with China and a changing climate

The Independent UK

The rouble is soaring and Putin is stronger than ever - our sanctions have backfired

Energy prices are rocketing, inflation is soaring and millions are being starved of grain. Surely Johnson knew this would happen, says Guardian columnist Simon Jenkins

The Guardian - UK

ExxonMobil and Chevron shatter profit records; eurozone inflation hits record 8.9% – business live

US oil companies post huge earnings, as sky-high fuel costs hit consumers and drive up inflation

The Guardian - UK

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Al Jazeera

Some Asia economies need rapid rate hikes to cool inflation: IMF

IMF director for Asia and Pacific says rapid increases needed to prevent “upward spiral” in inflation.

AAP

Wholesale inflation at a 13-year high

Costs for Australian businesses rose 5.6 per cent in the 12 months to June 30, their biggest increase since December 2008.

Los Angeles Times

Here’s why the US economy shrinking in the 2nd quarter may not be so bad

WASHINGTON — In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another hike of three-quarters of a percentage point and signaled more to come in its effort to beat back inflation despite the risk of a recession.

The Times of India

US recession fears deepen as economy contracts for 2nd straight quarter: What about India?

NEW DELHI: World biggest economy contracted for the second quarter in a row on Thursday, triggering fears of recession.

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The Independent UK

Cost of living crisis 2022: How to cope with the rise in prices

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all

The Independent UK

Obama praises Biden breakthroughs on climate, drug prices and economy in rare remarks

Ex-POTUS praises historic investment in efforts to fight climate change and inflation

Benzinga

A Lot Of Smart People And Jim Cramer Read Inflation Situation Wrong, Comedian John Oliver Says

A late night comedian has taken aim at CNBC host and stock market personality Jim Cramer over his flip flopping on inflation and being wrong on how bad things really are. Here’s what John Oliver had to say.

Benzinga

A Historical Analysis of Commodity Cycles from the 1970s to 2020s

The global economy periodically experiences steep movements in commodity prices, causing cyclic booms and busts. These are called commodity cycles, a complex process emerging from macroeconomic shocks, supply chain bottlenecks, and policy failures.

Irish Mirror

Volume of retail sales down 1.3% in Ireland in June amid rising inflation

The largest increase in sales was in furniture and lighting, at a rise of 25.9% compared to the previous month

The Independent UK

Schumer rallies Democrats after surprise deal with Manchin

Senate Majority Leader Chuck Schumer has told fellow Senate Democrats they now have an opportunity to achieve two “hugely important” priorities on health care and climate change after the deal he struck with Sen. Joe Manchin

Axios

People with new jobs are making way more money

60% of job-switchers are making more money, even with inflation

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People

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