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The Latest Breaking News from Inflation

Benefit deductions should be stopped until inflation falls, say MPs

Committee calls for ‘breathing space’ for millions whose universal credit is docked to repay advances, debts or overpayments

The Guardian - UK

Rising production costs lead to 4.4% rise in UK shop prices

Fresh food inflation at 8% after increases in fertiliser, animal feed and transport

The Guardian - UK

Pause deductions to benefits to give ‘breathing space’ on cost of living – MPs

Automatic payments taken out of people’s benefits should be halted as claimants battle soaring costs, the Work and Pensions Committee said.

The Independent UK

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Pause deductions from benefits to help tackle cost of living crisis, say MPs

Work and Pensions Committee says the clawbacks should only be restored when inflation reduces or if benefits are increased to reflect the cost of living

Wales Online

Benefit deductions forcing cash-strapped families to food banks, report finds

A report by the Commons Work and Pensions Committee called on the Government to pause automatic payments until soaring inflation is back under control

Daily Mirror

IMF downgrades 'gloomy' economy as inflation and rate jitters continue, but ASX trades up

The Australian share market has ended the day at a 20 day high, despite new inflation data showing that shows price hikes are at their highest level in more than 20 years.

ABC News

Marion Scrymgour calls for ‘grog-free days’ in Northern Territory towns – as it happened

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The Guardian - AU

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Sunak pledges to cut VAT on energy bills under ‘winter plan’

The move is part of the former chancellor’s “winter plan” to tackle inflation and the cost-of-living emergency.

The Independent UK

Cabinet okays B27.4bn subsidies to help poor

The cabinet on Tuesday approved additional economic assistance measures worth 27.4 billion baht, including an extension of the "Khon La Khrueng" co-payment scheme to help alleviate the hardship of people affected by higher costs of living amid high inflation.

Bangkok Post

The Loop: Trump's back in Washington, how high will inflation go today, and a crashing end to TV debate

Here's your quick catch-up for this morning's news.

ABC News

4 Business Services Stocks to Buy Amid Escalating Economic Headwinds

The International Monetary Fund recently cut its global growth projections for this year and the next amid the deteriorating macro backdrop with the relentless rise in inflation and the geopolitical war. However, despite the economic uncertainties, we think business services stocks Civeo (CVEO), ARC Document (ARC), TriNet Group (TNET), and…

StockNews.com

Turkey launched an unusual experiment to fight inflation by cutting interest rates. This is how it spectacularly backfired

While many countries around the world are jacking up interest rates in an attempt to curb inflation, Turkey is trying an unorthodox approach: Its central bank is refusing to touch them.

ABC News

Palantir Stock Is Showing Signs Of Life

Enterprise and government data analytics services provider Palantir Technologies (NASDAQ: PLTR) stock has plummeted nearly (-46%) in 2022. According to its CEO Alex Karp, Palantir thrives in both good and bad times. He claims they predicted inflation and built the Company to had free cash flow, not just growth.

Benzinga

5 Stocks You'll Want in Your Corner if a Recession Hits

Growing fears over a potential recession due to high inflation and the Federal Reserve’s aggressive interest rate hikes should keep the stock market highly volatile in the upcoming months. However, investors could consider buying relatively stable and dividend-paying stocks Procter & Gamble (PG), AbbVie (ABBV), Abbott (ABT), Caterpillar (CAT), and…

StockNews.com

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Benzinga

Understanding How Stablecoins Have Fared In The Crypto Bear Phase

Cryptocurrencies have long been considered a hedge against inflation and a better alternative to fiat currencies that are susceptible to devaluation concerns. Most cryptocurrencies have significantly underperformed benchmark stock market indices due to liquidity pressures brought about by the tightening of monetary policy by leading central banks such as the U.S.…

AAP

Annual inflation rise is 'confronting'

Inflation rose 1.8 per cent in the June quarter, for an annual rate of 6.1 per cent, the Australian Bureau of Statistics has reported.

The Guardian - AU

IMF outlook for world economy could herald dark clouds for Australia

Analysis: Treasurer Jim Chalmers will no doubt reveal inherited budget bungles but he won’t need to look far for new tales of economic woe

Benzinga

Jim Cramer Slaps Walmart Around, Sets The Stage For Costco, Target And Amazon: 'This Is Not Forgivable'

Walmart Inc (NYSE: WMT) shares are tanking on Tuesday after the company slashed its guidance as a result of high inventory levels and continued inflation pressures.

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Asharq Al-Awsat

IMF Cuts Global Growth Outlook, Warns High Inflation Threatens Recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a…

Benzinga

Goodbye, Choco Taco. Hello, Expensive Household Goods - How Unilver Is Handling Inflation

Chaco Taco has gone the way of Jell-O Pudding Pops and Flintstone Push-Ups. Household item conglomerate Unilever PLC (NYSE: UL) is discontinuing the beloved ice cream snack, first invented in Philadelphia in 1983.

The Independent UK

US consumer confidence falls for third consecutive month as recession fears loom

Inflation and rate hikes expected to create further headwinds in coming months as midterm elections move closer

Reuters

Spain raises inflation forecast for 2022, lowers GDP growth target for 2023

Spain raised its inflation forecasts for 2022 and 2023 and lowered its economic growth target for 2023, Economy Minister Nadia Calvino said on Tuesday, citing the war in Ukraine for its continued negative impact on European economies.

Wales Online

World is 'teetering on the edge of recession' as UK set to be weakest G7 economy

The outlook from the IMF isn't rosy

The Independent UK

Biden fights talk of recession as key economic report looms

President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession

The Independent UK

US economy sending mixed signals: Here's what it all means

The U.S. economy is caught in an awkward, painful place

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