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The Latest Breaking News from Inflation

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

Biden wants a gas tax holiday. Some economists say that's a bad idea

Biden wants Congress to give people a break on the federal gas tax for the summer. But economists say that won't translate into big savings at the pump — and could hurt efforts to curb inflation.

WEKU

State pension to rise 10 per cent next year with return of triple lock despite warnings on pay

Government defends restoring triple lock while insisting public sector workers receive below-inflation pay rises

The Independent UK

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Rail strikes: travel disruption across Great Britain as fallout continues

Transport bosses say services will be disrupted throughout the week after mass industrial action on Tuesday

The Guardian - UK

Shoppers setting £30 limit for groceries amid cost of living crisis, Asda says

Food prices continue to soar as inflation hits a record high

The Independent UK

Teacher union threatens strike action if government fails to offer ‘inflation plus’ pay rise

‘We can no longer stand by while you run both education and educators into the ground’

The Independent UK

Inflation spike 'extremely worrying' for struggling Scots, Kate Forbes says

SCOTLAND’S Finance Secretary has warned the state of the UK’s economy is “extremely worrying” as inflation hit a new 40-year high.

The National (Scotland)

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Shapps says RMT claim he wrecked talks ‘a total lie’ as Thursday’s rail strikes set to go ahead – as it happened

This live blog is now closed

The Guardian - UK

Inflation in UK hits 40 year high with more Scots households left struggling

Food and fuel prices are rising at their fastest rate in 40 years and many Scots are struggling to make ends meet.

Daily Record

If UK inflation feels bad now, the grim news is worse is on the way

Analysis: PPI, the indicator of rises before they reach the consumer, shows higher price rises to come

The Guardian - UK

U.K. inflation rate hits a new 40-year high of 9.1%

The increase is in line with analysts' expectations and comes as the Bank of England says inflation could hit 11% in October, when a cap on domestic energy bills is lifted.

WEKU

UK inflation rate hits new 40-year high of 9.1%

Britain’s inflation rate hit 9.1% in May, a new 40-year high and up slightly on the previous month

The Independent UK

Gradual hike in policy rate to limit side effects: BoT minutes

The Bank of Thailand's (BoT) rate committee held its key interest rate steady earlier this month, but noted that gradual hikes would allow the economy to adjust smoothly and limit negative side effects, minutes of the meeting showed on Wednesday.

Bangkok Post

Asian shares dip despite Wall St rally; eyes on Fed chair

Asian shares are lower as markets shrug off a Wall Street rally and await the congressional testimony of Federal Reserve Chair Jerome Powell

The Independent UK

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Daily Mirror

What 9.1% inflation means for your money - and five items rising fastest in price

UK inflation has hit 9.1% in further misery for struggling households as the cost of living crisis deepens in the UK. But what does high inflation mean?

Manchester Evening News

Inflation rises again to new 40-year high of 9.1 per cent

The cost of raw materials, said analysts, rose to its fastest rate on record

Reuters

We can't allow unions to win over rail strikes, UK deputy prime minister says

Britain's deputy prime minister Dominic Raab said on Wednesday that the government couldn't allow "militant unions" to win over rail strikes, warning that their demands could lead to an inflationary spiral.

Asharq Al-Awsat

Tunisia Urges IMF to Consider Social Impact of Reforms

Tunisian President Kais Saied on Tuesday urged the International Monetary Fund to take into account the social impact of any economic reforms it may demand as part of a bailout package. The North African country has been in preliminary discussions with the global lender for a new loan to save…

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Evening Standard

FTSE 100 Live: Inflation at 9.1%, recession fears hit shares and oil price

Soaring food and motoring costs today sent the UK’s inflation rate to a fresh 40-year high of 9.1%.

Evening Standard

Asda says some shoppers setting £30 limit at till amid cost-of-living crisis

The boss of supermarket chain Asda has called on ministers to do more to help ease the cost of living crisis as he revealed some shoppers at his stores are now asking checkout operators to limit their spending to £30.

Asharq Al-Awsat

Emir of Qatar Says Global Economy to Shrink by a Third

Emir of Qatar Sheikh Tamim bin Hamad Al Thani warned on Tuesday of a wave of global economic stagnation and inflation that the world has not seen in 45 years, citing a slowdown of growth in the global economy by about a third this year. Speaking at the opening of…

Chronicle Live

Cost-of-living still rising with inflation at 40-year-high, new figures show

The rate of inflation has risen sharply in May, driven by an increase in food and petrol costs

Evening Standard

Inflation at new 40 year high of 9.1% - economy on ‘knife edge’

UK in clear danger of falling into recession

Insider UK

Inflation rises again to new 40-year high

Steep food price rises and record petrol prices were offset by clothing costs rising by less than this time last year

Liverpool Echo

UK inflation hits 40 year high as cost of living crisis deepens

Inflation has risen to 9.1%

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