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The Latest Breaking News from Inflation

Elon Musk Has Good Reasons for Wanting To Reverse Twitter's Trump Ban

Plus: A democratic socialist running for office is caught up in a MeToo witch hunt, inflation woes continue, and more...

Reason

'Inflation's Momentum Is Still Strong': Experts React To 8.3% CPI Inflation, Higher Than Expected

The SPDR S&P 500 ETF Trust SPY (NYSE: SPY) traded lower by 0.6% on Wednesday morning after the Labor Department reported an 8.3% increase in the consumer price index in the month, indicating inflation remains near 40-year highs.

Benzinga

US inflation slows from 40-year high

Consumer prices jumped 8.3% last month from 12 months earlier, the Labor Department said Wednesday.

Chicago Sun-Times

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Democrats lose Senate vote to codify abortion rights 49-51 – as it happened

Democrat Joe Manchin sides with Republicans in voting against the measure

The Guardian - US

Why Is Dogecoin Crashing Massively Today

Dogecoin (CRYPTO: DOGE) traded 22.3% lower at $0.09 over 24 hours leading up to Wednesday morning.

Benzinga

Prices in US outstrip forecasts in sign of inflation persisting

U.S. consumer prices rose by more than forecast in April, indicating inflation will persist at elevated levels for longer and keeping the Federal Reserve on the path of aggressive interest-rate hikes.

Tribune News Service

Inflation remained high in April

A key measure of consumer prices surged ahead, diminishing hopes that inflation will fade in the near future.

Axios

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US inflation rate slows but remains close to 40-year high

Consumer price index reveals costs rising by a monthly rate of 0.3% in April, down from 1.2% in March, the first fall since August 2021

The Guardian - US

‘Hurt, angry, anxious, scared’: Converging crises lead to US baby formula shortage

Along with much of the globe, US consumers are reeling from a cost of living and supply-chain crisis. One example is a shortage of baby formula caused by a constellation of factors, from rampant inflation to a massive recall over safety concerns.

France 24

Why you should care about falling lumber prices

Lumber is the poster child for the wild inflation and supply chain ride of the past year or so

Axios

US casinos had best month ever in March, winning $5.3B

Inflation may be soaring, supply chains are snarled and the coronavirus just won’t go away

The Independent UK

Bitcoin fails to live up to ‘digital gold’ hype

Investors hoped bitcoin would protect them against inflation. Instead, it has halved in value as inflation has soared to a 30 year high.

Evening Standard

Tell us: are you elderly and experience anxiety about the cost of living?

We’re interested to hear from elderly people in the UK who worry about affording the rising cost of living, and from their carers or relatives

The Guardian - UK

A Peek Into The Markets: US Stock Futures Gain; Inflation Data In Focus

Pre-open movers

Benzinga

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Evening Standard

Act now to help squeezed middle, Rishi Sunak is warned

Bosses called on the Chancellor to intervene “at pace” after Michael Gove ruled out an emergency budget on Wednesday

France 24

Apple bids farewell to the iPod

US tech giant Apple has announced it is stopping production of its iconic iPod device, which was first launched in 2001. With a battery life of 10 hours and enough space for 1,000 songs, the iPod completely changed the way we listen to music and paved the way for smartphones.…

Evening Standard

Elon Musk hints Tesla may stop taking orders as supply chain problems bite

Inflation and supply chain issues continue to hit carmakers, with Toyota and Tesla both sounding the alarm.

Evening Standard

The 10 most expensive artworks ever sold

As Andy Warhol’s iconic portrait of Marilyn Monroe sells for $195 million, Amy Francombe charts the world’s other record-breaking works of art

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The Independent UK

1.5m UK households will struggle to pay bills in next year due to cost of living squeeze

Think tank calls for goverment to reinstate universal credit payments for struggling households

WEKU

How low-income people pay the steepest price when inflation hits

The annual inflation rate likely eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

WEKU

Inflation may be easing — but low-income people are still paying the steepest prices

The annual inflation rate eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

WEKU

Restaurants that survived the pandemic are now threatened by inflation

Higher costs for food, labor, rent, gasoline and cooking gas make it harder for casual dining places to buy, cook and deliver meals. And they're limited in how much they can pass on to customers.

The Guardian - AU

‘Over-the-top alarmism’: economists dismiss concerns wage rises cause inflation

Australia’s minimum wage is shrinking compared to median pay, bucking global trends

Daily Record

One in five people 'have lost sleep' over cost of living crisis as bills soar

The UK Government has been accused of failing to protect people from inflationary pressures and rising energy bills.

The Independent UK

Asian stocks mixed, China gains ahead of US price data

Shares are mixed in Asia with Chinese benchmarks pressing higher after a rally in technology companies helped reverse most of an early slide on Wall Street

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