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The Latest Breaking News from Inflation

Biden backs changing Senate filibuster to counter Supreme Court’s ‘outrageous’ Roe v Wade abortion ruling

Mr Biden’s announcement is a break from his previous reluctance to support changing senate rules to make it easier to pass legislation

The Independent UK

Barclays gives 35,000 staff a £1200 pay boost to help with cost of living

Barclays is to give 35,000 UK staff a £1,200 pay rise in August to help them cope with the soaring cost of living.

Evening Standard

'Rich Dad Poor Dad' Author Says Inflation Is 'Fake,' Has This Solution For Government

“Rich Dad Poor Dad” author Robert Kiyosaki has said the ongoing inflation is “fake” and part of the “Marxist agenda.”

Benzinga

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Key inflation gauge favored by the Fed remains high in May

The inflation gauged favored by the Fed rose 6.3% from the prior year.

Axios

Key inflation gauge tracked by the Fed remains a high 6.3%

A measure of inflation that is closely tracked by the Federal Reserve rose 6.3% in May from a year earlier, unchanged from its level in April

The Independent UK

Boris Johnson tells Britons that ‘cost of freedom worth paying’ amid Ukraine ‘fatigue’ fears

Prime minister says only Russian defeat can avoid ‘more economic distress’ – as inflation soars at home

The Independent UK

It's been a vicious 6 months for stocks. Here's what the grim markets are signaling

All that whipsawing on Wall Street in the first half of the year reflects real nervousness. Investors are worried the Fed may tip the economy into a recession.

WEKU

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Strong retail sales and high inflation dominate markets this week

Strong Australian retail sales surprised financial markets this week and were one of five major events. Here's your market wrap.

The New Daily

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

Bank of England needs to guard against a wage price spiral

City Voices: Urgent medicine needs to be administered to the economy

Evening Standard

Ten money changes happening in July including £650 payment and National Insurance update

We explain everything you need to know about all the financial changes coming up in July - including updates to the National Insurance threshold and the start of cost of living payments worth £650

Daily Mirror

TotalEnergies discounts fuel at French petrol stations as inflation soars

Under pressure from the French government to do more to help consumers tackle higher energy costs, TotalEnergies has announced discounts on pump prices at French motorway petrol stations. The move comes as inflation hit a record high over the month of June.

Radio France Internationale

Inflation lights up Bunzl as it raises revenue guidance

Acquisitons also help FTSE 100 business supplies company

Evening Standard

People's disposable income has fallen constantly for a year for first time ever, figures show

It's the first time ever that real disposable income has fallen for four quarters in a row

Wales Online

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Chicago Sun-Times

Federal Reserve chair Jerome Powell: ‘No guarantee’ Fed can tame inflation, spare jobs

Though economists worry that higher interest rates could push the nation into a recession, the Fed chair pointed to a strong labor market and said most households and businesses have healthy savings.

The Conversation

G7 and Nato summits lay bare deep and hostile divide between Russia and China and the west

Against a backdrop of unprecedented turmoil – the first major war in Europe in three decades, the highest inflation rates in decades and a rapidly worsening global food crisis – western leaders have met for two major summits. The G7 met in Germany and Nato leaders gathered in Madrid. The…

Glasgow Live

DWP benefit cap may increase for first time in six years amid soaring inflation

Work and Pensions Secretary Therese Coffey has confirmed that the UK Government may review the benefit cap this year which affects how much money claimants can receive

Axios

Axios-Ipsos Latino Poll: Gun violence and crime surpass inflation as top concern

But the economy is still the most difficult issue for Democrats among Latinos.

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The Conversation

Sky-high mortgages, 7.1% inflation, and a 20% chance of recession. How the Conversation's panel sees the year ahead

Homeowners will face mortgage rates near 5.5% in a little over a year, according to a survey of 22 leading Australian economists.

The Guardian - UK

Global markets post worst first-half performance in decades – as it happened

US stocks have recorded their worst first half in more than 50 years as central bank attempts to slow inflation sparks selloff

Bangkok Post

Vietnam plans to cut MFN tariff on gasoline to fight inflation

HANOI: Vietnam plans to cut its Most Favoured Nation (MFN) tariff on gasoline to 12% from 20% to help ease inflationary pressure, the government said on Thursday.

Reuters

Philippines President Marcos says food sufficiency urgent issue

Philippines President Ferdinand Marcos said on Thursday ensuring food sufficiency for a country battling soaring inflation will be among his top priorities as he began his six-year term.

The National (Scotland)

Rising inflation weakens outlook for Scottish economic growth in 2023

The Scottish economy had shown healthy growth before contracting in April, but the cost of living crisis, inflation and interest rate rises are…

Wales Online

Soaring inflation to hit Britain harder than any other major economy

To address inflation, the Bank of England warns it may need the option of half-point interest rate rises

Insider UK

Rising inflation weakens outlook for growth in 2023

The cost of living crisis means consumers are spending less on non-essentials

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