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The Latest Breaking News from Inflation

Soaring UK inflation makes action from Rishi Sunak a question of when, not if

Analysis: Chancellor has sought to deflect criticism by citing global factors but has hinted about support

The Guardian - UK

Rishi Sunak warns next months of cost of living crisis ‘will be tough’

Pressure on chancellor to act as inflation hits a 40-year high with soaring energy bills pushing Consumer Prices Index to nine per cent in April

Evening Standard

School lunch portions may SHRINK with cheaper ingredients used to counter food costs

Andrew Selley, chief executive of Bidfood, said schools might have to use cheaper ingredients in a bid to counter rapidly rising food prices - or raise cost of dinners

Daily Mirror

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Pubs wary of increasing prices as inflation squeezes profits

‘We are having to take a lot of these costs on the chin which affects our bottom line,’ said City Pub Group chair Clive Watson

Evening Standard

House prices hit new record but growth expected to slow

The rate of growth will slow by the end of 2022, Halifax said.

The Independent UK

REDIRECTED Will rising interest rates cause UK house prices to fall?

Many experts are predicting a slowdown in price growth later this year, explains Ben Chapman

The Independent UK

‘No time to lose’ to help those struggling with surging living costs

StepChange Debt Charity said the surging cost of living is among the most common reasons people with financial struggles give for their debts.

The Independent UK

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Eastbourne council becomes first council to declare ‘cost of living emergency’

Exclusive: Lib Dem-run authority will pass motion to give Tory government ‘wake-up call’ and help local charities

The Independent UK

Rishi Sunak under pressure as inflation hits 9% sending fuel and food prices soaring

Labour is tabling an amendment calling for an emergency budget to help households cope with rising food and fuel costs.

Daily Record

More pain in Sri Lanka before any resolution to crisis

Sri Lanka's central bank has secured foreign exchange to pay for fuel and cooking gas shipments that will ease crippling shortages, its governor said on Thursday, as the prime minister said supplies had been locked in for at least a month.

Reuters

Proof positive. Real wages are shrinking, Wednesday's figures put it beyond doubt

Every three months the Bureau of Statistics releases the lesser-known cousin of the consumer price index. It’s called the Wage Price Index (WPI) and it records changes in the overall level of wages, in the same way the price index records changes in the overall level of consumer prices.

The Conversation

Prescription charges frozen – who pays for medication in England and Wales?

Prescription charges in England, which would normally rise with inflation, will be frozen at £9.35 until next year, but who needs to pay for medication in England and Wales?

Daily Mirror

The Bank of England can’t save people from this cost of living crisis – that’s Boris Johnson’s job

Faced with the the biggest inflation rise in 40 years, the Bank must do more than berate workers, says Sahil Dutta, lecturer in political economy

The Guardian - UK

Inflation has squelched the optimists

Especially in suburban and rural America.

Axios

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Salon

Behind the Joe Biden v, Jeff Bezos beef

The Bezos-Biden spat comes as the price of food and fuel soars and Amazon workers organize to form a labor union

Benzinga

A Peek Into The Markets: US Stock Futures Down Following Tuesday's Rally

Pre-open movers

The Independent UK

£24,000 annual increase in average UK house price

The annual rate of house price growth slowed to 9.8% in March, the Office for National Statistics said.

The Independent UK

UK house prices: Will rising interest rates cause a property market crash?

House prices jumped 9.9 per cent in the year to March 2022. With interest rates increasing, is a crash on the way?

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Wales Online

Money Mum blogger shares eight-step plan to save enough for a holiday

Gemma Bird says simple hacks can make you enough money for a family break

The Guardian - UK

Labour to force vote on emergency budget as UK inflation soars to 9%

Shadow chancellor renews call for windfall tax on oil and gas firms to offset cost of living crisis

Bristol Post

Bristol vintage fashion store owner says cost of living crisis is 'destroying' business

Kate Ashwell who owns Ashwell & Co in Clifton is calling on the Government to do more to help companies such as hers

Daily Mirror

6 items becoming unaffordable as inflation hits 9% - including fuel and drinks

Inflation rose to 9% in April - a new 40-year high - as households battled against rising energy bills as the new Ofgem price cap came into effect, adding to the cost of living crisis

Evening Standard

Four more rate hikes this year, warns City as inflation takes toll

THERE will be at least four more interest rate rises this year and a surge of insolvencies as inflation takes its toll on an increasingly shaky UK economy.

Wales Online

Poorest facing inflation of 11% while rich only hit by 8%, say experts

While inflation was confirmed to have hit a 40-year high of 9% this morning, the poorest in society are facing a real-terms hit of 11%

The Guardian - AU

Labor to consider new national Covid strategy to reduce deaths

Anthony Albanese says pandemic still ‘major issue’, but Scott Morrison says Australians want to ‘put that in the rear-vision mirror’

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