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The Latest Breaking News from Inflation

America's Fishing Industry Is Getting Caught Up in the Trade War

Seafood prices have gone up by double digits as tariffs and inflation drive up costs for consumers

Reason

Has inflation peaked? What experts say consumers can expect in the next few months

SACRAMENTO, Calif. — Here’s what experts say is the future of prices, which have been increasing at levels unseen in nearly 41 years:

Tribune News Service

Schools could face £2.5bn ‘pay cut’ with new budgets as inflation bites, Lib Dems say

Union says new settlement ‘does not remotely take into account the huge inflationary pressures’

The Independent UK

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Inflation is rising in Kenya: here's why, and how to fix it

Inflation has hit many countries recently, from the United States to Sri Lanka.

The Conversation

Schools’ funding increase will not cover inflationary costs, headteachers say

Schools’ core funding will increase by £1.5 billion next year.

The Independent UK

Reserve Bank review will scrutinise who sits on the board and whether their views should be more transparent

A Reserve Bank of Australia review is set to examine whether its long-standing inflation target should remain.

ABC News

International expert to review Reserve Bank as deputy governor says households in 'fairly good position' on rate rises

An international expert on monetary policy, Carolyn Wilkins, is one of a three-member panel that will conduct a broad review of the Reserve Bank, including its objectives and the interaction of monetary and fiscal policy.

The Conversation

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Monthly mortgage bills could rise by another $650. But the RBA’s not worried yet

Home owners are facing another $650 rise in their mortgage bills within months as the economy is pushed to the brink to curb inflation.

The New Daily

Yellen believes U.S. will get on board with global minimum corporate tax — eventually

Treasury Secretary Janet Yellen spoke to Morning Edition about global efforts to choke off much of Russia's profit from oil sales and the odds of a recession in the U.S.

WEKU

Scottish insolvencies fall even as rising inflation cranks up pressure on businesses

Insolvency advisor warns that rising UK trend may spread in the coming months

Insider UK

Shoppers face £454 increase to annual grocery bill as food inflation soars

Butter, milk and dog food are the items rising most sharply in price

The Independent UK

Singapore growth to moderate further next year, global inflation expected to ease

Singapore's economic growth is expected to moderate further next year, tracking a slowdown in its major trading partners, while global inflation is expected to ease in 2023, the head of the city-state's central bank said on Tuesday.

Reuters

To avert election disaster, Democrats need to run a fiercely pro-worker campaign

You won’t hear this on Fox News, but Biden and the Democrats did a terrific job lifting America out of the pandemic-induced downturn. The nation added 8.9m jobs during Biden’s first 18 months in office

The Guardian - US

Recession Ireland: Dublin's economy faces 'slow down' as Eddie Hobbs might be proven right

Inflation will 'likely' have a negative effect on businesses in the second half of 2022

Dublin Live

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Insider UK

Workers see wages lag behind inflation at 20-year low

Bills have surged due to the Ukraine war, but many have seen wages struggle to keep up

The Guardian - UK

Average UK food bill rises by £454 a year as grocery inflation nears 14-year high

Prices of butter, milk and pet food rise at the fastest rates as shoppers face cost of living squeeze

WEKU

Democrats say voters are watching the Jan. 6 hearings, but it's not their top issue

Voters are more concerned with inflation, according to Democrats in competitive races who are trying to gauge how the hearings will affect November's midterms.

Asharq Al-Awsat

Middle East Sovereign Funds Reposition Strategies as Inflation Bites

Surging inflation and the Russian invasion of Ukraine have prompted sovereign investors to reposition their asset allocation, according to the latest Invesco Global Sovereign Asset Management Study. Investors now favor private markets over fixed income and equities, and among geographies, prefer the US and the Asia Pacific over Europe. More…

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France 24

Economic crisis in Sri Lanka as millions suffer shortages of essential items

As Sri Lanka's protest movement reaches 100 days, the people proudly and defiantly said that their fight is not over. Indeed, in addition to political uncertainty, the country faces a long list of problems, with years of mismanagement coupled with external shocks. The coronavirus pandemic has battered the tourism industry,…

Asharq Al-Awsat

Pentagon and Lockheed Reach Deal to Build 375 F-35 Fighter Jets

The US Department of Defense agreed with Lockheed Martin Corp to build about 375 F-35 fighter jets over three years, the two parties said on Monday, amid expectations the price of the most common version of the aircraft would increase due to inflation and slower production. "We are pleased to…

The Guardian - UK

UK living standards squeeze will intensify as real pay plunges

Analysis: Rising inflation likely to lead to more strikes and falling spending unless government acts

Liverpool Echo

Full list of public sector jobs set for pay announcement today including nurses and teachers

There has been speculation that the offers will be around 5% which unions point out is less than half the current level of RPI inflation

Al Jazeera

US promotes ‘friend-shoring’ of trade with eye on China, Russia

US treasury secretary highlights economic threat posed by ‘unreliable countries’ during visit to South Korea.

Daily Mirror

Real wages suffer worse plummet on record as cost of living crisis hammers UK

UK workers are suffering 'the worst pay squeeze in modern history' after regular wages plunged 2.8% compared to inflation - outstripping the last financial crash

The Guardian - UK

UK living standards fall at record rate as inflation soars

Number of people in employment rises but cost of living crisis worsens as pay fails to keep pace with prices

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