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The Latest Breaking News from Inflation

The Bank of England fears worker power, but most are taking a real-terms pay cut

Conditions have improved for a select few but on wages and flexible hours, the trend for employees is generally backwards. Can the rate-setters grasp that?

The Guardian - UK

Sex Pistols drama charts rise and fall of punk band who mocked the Queen at Jubilee

They may have only last two and a half years before self-destructing but decades on the Sex Pistols' punk legacy lives on in an era eerily similar.

Daily Mirror

Hundreds of staple grocery items cost 20 per cent more than they did in 2020, study finds

The availability of own-label budget ranges has also fallen

The Independent UK

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What do Elon Musk and Jeff Bezos have in common? An unhealthy Twitter habit

They are two of the world’s richest people, and both are obsessed with space travel, but they use social media for very different reasons

The Guardian - UK

Iain Duncan Smith calls for benefits to rise in line with inflation

Tory MP says immediate increase in universal credit would provide ‘shield’ against cost of living crisis

The Guardian - UK

Apocalypse now? The alarming effects of the global food crisis

The Bank of England governor warned last week of ‘apocalyptic’ food price rises. Yet war in Ukraine, climate change and inflation are already taking their toll all over the world

The Guardian - UK

Election results update: Labor to form government as both major parties' primary votes slump

This article was updated on Sunday morning.

The Conversation

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Albanese wins with a modest program – but the times may well suit him

Labor’s successful bid for government – only its fifth victory from opposition since the first world war – was based on an experiment that no one could have known would work.

The Conversation

Iain Duncan Smith calls for benefits to be boosted in line with inflation

The former Tory leader said a raise in benefits would provide a ‘shield’ against the sting of mounting living costs

The Independent UK

Tory peer who helped set up Universal Credit calls for benefits boost

Baroness Philippa Stroud has also called for the £20 uplift to be restored having previously warned that its removal would plunge thousands into poverty

Evening Standard

Billionaire bros turn on Biden

Both Bezos and Musks have curiously found their political voices at the same time — just as labor forces take hold

Salon

UK government must help poor now, says senior Conservative lawmaker

Britain's Conservative government needs to take measures now to help those most effected by a worsening cost-of-living crunch, former party leader and senior lawmaker Iain Duncan Smith said on Saturday.

Reuters

Florida faces a big summer of travel and tourism. The ‘people had to come,’ governor says

FORT LAUDERDALE, Fla. — Florida is experiencing yet another boom in tourism well into May this year — with the slow days of summer long gone, industry experts say.

Tribune News Service

Supermarket items which have soared by 20 per cent named by Which?

A new study has shown an 'eye-watering' increase in a number of basic items for shoppers across the UK. It also shows that own brand items availability is at a low

Liverpool Echo

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The Independent UK

Conservative peer who helped to set up universal credit system calls for urgent benefits increase

Exclusive: Baroness Stroud says ‘We have the opportunity to intervene’ amid cost of living crisis

Manchester Evening News

What 9 per cent inflation means for you as rate hits 40-year high in biggest squeeze on cost of living for decades

Millions of households are under pressure to cut back on spending as prices soar

Manchester Evening News

BT customers will start to see broadband bills rise as price hike kicks in

One BT customer has seen their bill up up by almost 10%

Manchester Evening News

Cost of living crisis: Hundreds of supermarket products more than 20 per cent pricier over last two years

There are also fewer supermarket-own products available and less discounts and offers

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The Guardian - UK

‘We’ve been inundated’: UK housing market frenzy shows no signs of slowing

Buyers face bidding wars to snare homes despite soaring inflation, cost of living crisis and fears of property crash

The National (Scotland)

Even Tories now admit Brexit is making cost-of-living crisis worse, say SNP

BREXIT is making the cost-of-living crisis “worse” and is contributing to the soaring bills and rising inflation hitting Scottish families, a…

Daily Record

SNP Government accused of failing to rule out 12% rise in water charges

Jackie Baillie, Labour MSP for Dumbarton, slammed the Scottish Government for signing off on a two per cent rise above inflation on bills.

Daily Mirror

Fears summer rail strike could lead to empty supermarket shelves and petrol pumps

A "summer of discontent" with empty supermarket shelves and petrol stations running dry is feared if a rail strike takes place as unions ask for a pay rise to keep in line with inflation

Chicago Sun-Times

Wall Street’s final-hour rally saves it from maw of bear market

Rising interest rates, high inflation, the war in Ukraine, and a slowdown in China’s economy are all punishing stocks and raising fears about a possible U.S. recession.

The Guardian - UK

‘It’s ridiculous’: shock as some UK grocery prices rise by more than 20%

Which? analysis finds cereal, mushrooms and cheese among the items to have risen the most

Daily Mirror

Foods which have soared in price by 20% in two years at supermarkets like Tesco and Asda

The cost of food has been going up, but now an investigation by consumer group Which? has found many have risen by 20%, as well as supermarkets offering fewer discounts

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