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The Latest Breaking News from Inflation

Cazoo to cut 750 jobs in bid to save more than £200m

Cazoo said its costs have been driven up by rising inflation and interest rates

Birmingham Post

Inflation is raising prices on almost everything, except rotisserie chicken

While chicken prices nationwide have increased, retailers such as Costco and BJ's are still selling rotisserie chickens for under $5. That's part of a broader strategy.

WEKU

RBI's rate hike is just a matter of how much: Report

NEW DELHI: As monetary policy makers huddle to find ways to tame inflation, the question for them is not whether to raise borrowing costs, but by how much.

The Times of India

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Lori Borgman: The Venmo solution to the high cost of living

The message painted on a car window in the parking lot said, "Honk!! Just Married-Venmo @. . . " followed by a woman's name.

Tribune News Service

Ramesh Ponnuru: The Fed risks future pain if it fails to curb inflation today

A consensus has formed that the Federal Reserve waited too long to start tightening money. Ben Bernanke, the former Fed chairman, has said so. Janet Yellen, another former chairman who now serves as Treasury secretary, has implicitly agreed, saying that she, like many other observers, underestimated how high inflation would…

Tribune News Service

Treasurer warns of ‘severity and magnitude of inflation challenge’ after RBA hikes official interest rate

Jim Chalmers responds to Reserve Bank decision to lift cash rate 50 basis points as Anthony Albanese declines to comment during Indonesia trip

The Guardian - AU

London’s economic recovery shows ‘levelling up’ struggles; stagflation fears rise – as it happened

Rolling coverage of the latest economic and financial news

The Guardian - UK

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FTSE 100 Live: Australia rates rise surprise, retail sales weaken on cost pressures

Australia’s bigger-than-expected hike in interest rates today put European markets under pressure as inflation worries return to the fore.

Evening Standard

Newcastle NHS execs promise to 'do everything possible' to support staff hit by the cost-of-living crisis

With inflation biting. NHS staff - like many of us - are being hit hard by the rising cost of living. One NHS Trust has pledged to do whatever it can to support those affected.

Chronicle Live

A 'difficult' day for homeowners as Treasurer Jim Chalmers predicts more pain before inflation is brought under control

Jim Chalmers says a rise in interest rates is "difficult news" for home owners and warns life in Australia is set to become even more expensive.

ABC News

Expect the RBA to go easy on interest rate hikes from now on – we can't afford rates to climb as steeply as the market expects

By lifting its cash rate by 0.5 points, from 0.35% to 0.85%, the Reserve Bank has added about another $120 per month in payments for a A$500,000 mortgage.

The Conversation

Reserve Bank hikes official interest rate by 50 basis points to 0.85% to curb inflation

Decision exceeded predictions from economists while Westpac was the first of the big banks to pass on the rise in full to customers

The Guardian - AU

Reserve Bank hikes cash rate to 0.85 per cent

The Reserve Bank has lifted the cash rate from 0.35 per cent to 0.85 per cent in a bid to curb rising inflation. It is the second hike in as many months.

The New Daily

Mortgage squeeze as Reserve Bank lifts cash rate by 50 basis points

Governor Philip Lowe noted in the decision that inflation has "increased significantly".

Newcastle Herald

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The National (Scotland)

What can Scotland do to tackle the skyrocketing price of food?

Part three of our series on the cost of living crisis.

ABC News

Interest rate decision: RBA raises official cash rate to 0.85 per cent amid soaring inflation — as it happened

The Reserve Bank announces a cash rate rise of half a percentage point. Look back at how the day unfolded in our live blog.

Axios

Labor unions warn Biden not to lift Trump's China tariffs — even to fight inflation

The issue has divided Biden's top advisers.

The Guardian - UK

UK retailers given jubilee lift as high street footfall rises

Number of people visiting shops during June bank holiday week was up 17% on May average

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The Independent UK

Retail sales slip again as inflation weighs on consumer spending

Total retail sales decreased by 1.1% in May, according to the latest monthly BRC-KPMG retail sales monitor.

Tribune News Service

Mortgage rate forecast for June 2022: Recession worries may keep rates in check

Many factors are putting upward and downward pressure on mortgage rates, and prospective borrowers have observed a seesaw pattern in the cost to finance a home recently.

Tribune News Service

Here’s what Walmart is doing to fight inflation

FAYETTEVILLE, Ark. — Walmart CEO Doug McMillon says the retail giant is closely watching its core shopper while working on ways to lower its costs and navigate 40-year-high inflation.

Bangkok Post

Headline inflation in May hits 13-year high

Thailand's headline inflation, gauged by the consumer price index (CPI), hit a 13-year high in May, largely attributed to the rise in energy and food prices.

Bangkok Post

'Friend-Shoring' Might Be Bad for Global Growth and Inflation

As geopolitical tensions rise, Western governments have urged international companies to shift more business to friendly countries. Some critics think that could split the global economy into hostile camps, hurting growth and worsening inflation.

The Conversation

Memo RBA: we ought to live with inflation, more of it

Later today, everyone expects the Reserve Bank board will push up its cash interest rate for the second consecutive month.

Axios

Businesses add fees, fuel surcharges to counter inflation and high gas prices

The next time you get a receipt, take a closer look.

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