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The Latest Breaking News from Inflation

John McDonnell calls for strict price controls on fuel and food basics

Former shadow chancellor says a radical response needed to the worst cost of living crisis in a generation

The Guardian - 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

Pick Up This Sturdy Consumer Staple Stock in Times of Trouble

Given the growing concerns over the Fed’s hawkish stance to tame the rising inflation and the possibility of the economy tipping into a recession, it could be wise to invest in fundamentally solid consumer staple stock General Mills (GIS). Consumer staples stocks are seen as recession-proof due to the non-cyclical…

StockNews.com

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Trump says Ukraine war, inflation wouldn’t happen if he were president

Former President Donald Trump also criticized Wyoming Rep. Liz Cheney in a series of Truth Social posts.

Axios

Add rent to the rising costs bedeviling small businesses

The rent has come due for America’s small businesses and at a very inopportune time

The Independent UK

Germany records first monthly trade deficit since 1991 as inflation soars

May’s €1bn deficit came as rising prices, falling demand and supply chain disruption hit industrial base

The Guardian - UK

German leader gathers employers, unions to tackle inflation

German Chancellor Olaf Scholz has gathered top employer and labor union representatives at his Berlin office to seek ways of addressing the impact of rising prices while preventing a spiral of inflation in Europe’s biggest economy

The Independent UK

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Shoppers aghast as Lurpak soars to £7.25 a tub

Brits facing soaring prices at supermarkets

Wales Online

Turkey hit with soaring prices as inflation nears 80%

Growth in annual prices rose from 73.5% in May to 78.6% in June, but real rate could be double official figure

The Guardian - UK

‘Serious financial stress’: Typical mortgage bills tipped to jump $792 by year’s end

Home owners are being warned to brace for their third interest rate hike in as many months on Tuesday as the Reserve Bank fights surging inflation.

The New Daily

The Standard View: London reels from the body blow of inflation

Inflation affects everyone, everywhere, but it hurts some of us more than others. And the bleak truth is that the less well-off and Londoners are affected more than most. The worrying finding of our Ipsos poll is that millions of people would find it “very difficult” to cope with inflation…

Evening Standard

Struggle to cope for millions as the big squeeze tightens

Exclusive poll reveals extent of cost-of-living crisis

Evening Standard

As we head back to the striking Seventies, blame inflation not the unions

“Although the Seventies remains a salutary lesson in what can happen, we should not talk ourselves into believing we are inevitably heading for a repeat performance.” So argued Jon Cunliffe, Deputy Governor of the Bank of England, back in April. I wonder if he’s having second thoughts. The number of…

Evening Standard

Can we avoid a recession? What we can learn from the Kiwis

New Zealand property prices have fallen every month this year following a series of punishing interest rate hikes that began last October. So far, the hikes have yet to dent inflation.

ABC News

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The Guardian - UK

Retirement on hold for UK’s over-60s as cost of living crisis bites

Many older people are now finding they cannot afford to meet basic outgoings. So retirement dates are being scrapped

The Guardian - UK

EasyJet operations chief quits; petrol hits new high; Suez Canal’s record revenues – as it happened

EasyJet’s chief operating officer Peter Bellew resigns amid growing anger over flight disruption

Asharq Al-Awsat

Turkish Inflation Seen Above 78% in June, Just Below 70% at End-2022

Turkey's inflation is expected to rise above 78% in June and it was seen declining to just below 70% by end-2022, a Reuters poll showed on Tuesday, as pricing behavior deteriorates across the board due to a weak currency and a loose monetary policy. Inflation has surged since last autumn,…

The Independent UK

Asian shares mixed, oil steady ahead of July 4 holiday in US

Shares are mixed in Asia while U.S. futures fell ahead of the July 4 holiday in the U.S. Benchmarks rose in Tokyo, Shanghai and Sydney but fell in Hong Kong and Seoul

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Wales Online

Fewer pubs in England and Wales than ever before

Analysis shows the total number of hostelries is now 7,000 less than a decade ago, with the pandemic being followed by soaring inflation, energy costs and the cost of living

The Guardian - AU

Missed meals and constant stress: New Zealand’s cost-of-living crisis hits home

Study finds food insecurity causing ‘significant and enduring hardship’ as costs outstrip income for some sole parents

Daily Mirror

Pubs in crisis as 7,000 call last orders in England and Wales in just 10 years

The hospitality sector, which tackled huge challenges during the pandemic, is now facing record-high inflation and an energy crisis

Tribune News Service

Senate Democrat urges Biden to repeal tariffs to fight inflation

WASHINGTON — A Senate Democrat called on President Joe Biden to repeal tariffs put in place by the Trump administration, saying they haven’t significantly changed China’s trade practices and are contributing to high prices for Americans.

Bangkok Post

McDonald's Dollar Drinks Deal Fades in the Face of Inflation

Inflation is coming for McDonald's dollar drinks.

The Hindu

Dogged by inflation: On Price rise and policy measures

Policymakers must focus on easing price pressures so as not to derail recovery

Dublin Live

Recession Ireland: Majority of public believe we are heading for recession - poll

Almost four out of five people think the economy is heading for a slump

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British Beer And Pub Association

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