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The Latest Breaking News from Inflation

State pension set to rise by double figures to protect elderly from inflation

And benefits are also set to rise

Nottingham Post

G7 nations are worried about global economic crisis - Scholz

All leaders of the Group of Seven rich democracies are concerned about a looming economic crisis as growth slows and inflation soars, German Chancellor Olaf Scholz said after a working session on the global economy at this year's annual G7 summit.

Reuters

Greedflation: Is price-gouging helping fuel high inflation?

Furious about surging prices at the gasoline station and the supermarket, many consumers feel they know just where to cast blame: On greedy companies that relentlessly jack up prices and pocket the profits

The Independent UK

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Retail expert answers questions on the cost of living crisis

40-year high in inflation and the consumer sentiment lows in a survey dating back around 50 years tells you these are very difficult times

Wales Online

History turns full circle as G7 alarm bells ring over energy once again

First meeting in 1975 grappled with the oil shock – now it is Russia’s war in Ukraine creating angst

The Guardian - UK

Biden Ignores His Own Role in Inflation

Stimulus checks, government spending, and Putin’s invasion of Ukraine are only part of the problem.

Reason

Ukraine, Hunger, Inflation: G7 Leaders Navigate Myriad of Crises

G7 leaders including US President Joe Biden gather on Sunday in southern Germany, seeking emphatic backing for Ukraine against Russia's invasion while grappling with the intensifying global fallout of the war. From soaring inflation to a looming food crisis and energy shortages, the conflict in Ukraine, now in its fifth…

Asharq Al-Awsat

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Biden, G-7 leaders huddle on energy, inflation, Ukraine war

President Joe Biden and his Group of Seven allies will huddle in the Bavarian Alps on Sunday to confer on strategies to secure energy supplies and tackle inflation

The Independent UK

Future make-up of RBA board a 'key consideration' going forward, says Federal Treasurer

Federal Treasurer Jim Chalmers throws his support behind calls for the Reserve Bank board to be more representative of the broader Australian community, following scathing criticism that it is out of touch with workers demanding wage increases.

ABC News

Jim Chalmers says inflation will go higher, but unions are right to push for higher wages

Treasurer says it is ‘uncontroversial’ for unions to note that wage rises are below inflation, and suggests there may be a place for workers’ representative on RBA board

The Guardian - AU

Abortion ruling could spur 'political earthquake' ahead of pivotal Michigan election

LANSING, Mich. — A landmark U.S. Supreme Court ruling that ended a nationwide constitutional right to abortion shook the political landscape in Michigan with Democrats contending the decision will energize their party less than five months ahead of a pivotal midterm election.

Tribune News Service

Emergency Credit Line Guarantee Scheme disbursals to MSMEs up 10%

AHMEDABAD: Though demand has improved and economic activity resumed after the worst of the pandemic, MSMEs still face working capital problems. Disbursals under the Emergency Credit Line Guarantee Scheme (ECLGS) continued to see offtake grow, as inflation and high raw material and logistics costs are pushed up working capital requirements…

The Times of India

Yes supporters must convince trade unions to back Yes, says Tommy Sheppard

THE Yes movement must persuade trade unions to back Scottish independence, SNP MP Tommy Sheppard has said.

The National (Scotland)

Running up that hill ... just like we were back in the 1980s

THE UK inflation rate has surged to a level not seen since 1982, new figures revealed last week.

The National (Scotland)

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Radio France Internationale

Coaching women to become masters of their own independence

The economic fallout from the Covid pandemic coupled with soaring inflation and a rise in the cost of living has left many people struggling to adapt to an increasingly unstable environment, not least women. But they can turn the situation into an opportunity says Chinese-American financial coach Yulin Lee.

The Independent UK

‘Roe is on the ballot’: Can Democrats fire up their base on abortion rights or is it too late?

Democrats want to mobilise their voters to protect abortion rights. But voters have multiple concerns like inflation and gas prices on their minds.

The Guardian - UK

A celebration defying inflation: Glastonbury fans splash out on a party

The cost-of-living crisis is driving prices up at the event, but festivalgoers don’t want to economise – at least, not this year

Chronicle Live

Benefits, vouchers and help for parents struggling with cost of living crisis to claim

Inflation, energy bills, and stagnant wages are making lives harder and harder for families, but there is some help you can get

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Bangkok Post

Malaysia plans record $18bn subsidy spend in inflation fight

KUALA LUMPUR: Malaysia is expected to spend 77.3 billion ringgit (US$17.6 billion) in subsidies and cash aid this year, the largest amount in history, to help temper the effects of rising prices, its finance minister said on Saturday.

Daily Record

When will the state pension increase and by how much?

The state pension rises every April in line with the previous year’s inflation figure

Chronicle Live

Jeremy Corbyn joins rail staff at RMT train strike picket at Newcastle's Central Station

The former Labour leader called for an inflation pay rise and job security for train and rail staff, who he points out worked throughout Covid

Reuters

UK PM Boris Johnson urges restraint on public pay

British Prime Minister Boris Johnson said on Saturday that public pay could not be raised sharply, as demanded by trade unions, because it would risk fuelling a further rise in inflation.

The Independent UK

Inflation sparks global wave of protests for higher pay, aid

As food costs and fuel bills soar, inflation is plundering people’s wallets, sparking a wave of protests and workers’ strikes around the world

Asharq Al-Awsat

IMF's Georgieva Says 'Some Pain' May be Necessary to Fight Inflation

The head of the International Monetary Fund on Friday underscored the importance of fighting inflation now to shore up the prospects for economic growth in the future, warning that doing so could cause "some pain" to consumers in the short run. "Success over time (in lowering prices) will be beneficial…

Los Angeles Times

Newsom, lawmakers plan to provide more than $9 billion in gas refunds to Californians

Gov. Gavin Newsom and state lawmakers have reached a tentative deal to return $9.5 billion in tax refunds to Californians, sending as much as $1,050 to families this fall in long-awaited financial relief from record-high gasoline prices and inflation.

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