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The Latest Breaking News from Inflation

Tory MP admits benefits should go up 'immediately' after food bank visit

Michael Fabricant says 'people on the breadline cannot afford to wait'

Wales Online

Concerns raised over Nottinghamshire Fire and Rescue Service finances

There could be a £2m funding gap in its budget next year

Nottingham Post

EU growth forecast cut as war in Ukraine fuels inflation

European Commission downgrades growth prospects from 4% to 2.7%, while economy slows rapidly in China

The Guardian - UK

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Tory MP decides he wants benefits raised immediately after visit to food bank

‘People on the breadline cannot afford to wait,’ says Michael Fabricant

The Independent UK

How to save money while not compromising the quality of your shop - these are one food editor's top tips

Inflation has risen at the fastest rate in three decades and experts are warning that cheap food is to become a thing of the past. Here are four simple ways to cut down on shopping bills.

Manchester Evening News

Morning Brief: Top Financial Stories Dominating on Monday, May 16

CNBC Volkswagen CEO Shares Ambitious EV Ambitions For US Market

Benzinga

Bad Policy Creates Inflation and Opens the Door to Even Worse Ideas

When politicians break the economy, they hurt us in the short term but also create future opportunities to do harm in the name of undoing the damage they inflicted.

Reason

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Independents success due to 'more insulated' communities, PM says

Prime Minister Scott Morrison has appeared on 7.30pm

The Canberra Times

Big overspend expected on the £734m South Wales Metro rail project

Wales' major rail electrification of project is being hit by soaring inflation

Wales Online

Eastern Standard Preview for May 19, 2022

From weeks trapped in a basement shelter in the devastated eastern Ukraine city of Mariupol to safety in Lexington: Valery Kaidanov on the odyssey of her 84-year old mother, Vera Lisen. | After inflation is taken into account, state employee wages have declined over a decade. An analysis of a…

WEKU

Wheat export ban: India's extreme heat wave having ripple effects on world's food supply

NEW DELHI: In a surprise move, the government banned export of wheat, thereby pushing up prices to new record highs.

The Times of India

US at 'very, very high risk' of recession, says Goldman Sachs chairman Lloyd Blankfein

Goldman Sachs senior chairman Lloyd Blankfein urged companies and consumers to gird for a US recession, saying it’s a “very, very high risk.”

The Times of India

Inflation set to hit nine per cent this week - what it means for you

There is no let up in sight in the cost of living crisis

Wales Online

It's the year 2000 all over again in the economy and financial markets

That has big implications for recession risk as markets nosedive

Axios

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Axios

The crazy housing market is finally slowing

But rising mortgage rates will continue to put the squeeze on buyers.

Irish Mirror

Could wage increases be on the way as inflation soars? Government told 'Ireland needs a pay rise'

Speaking on Newstalk's Breakfast, Ivana Bacik said the Labour Party agrees with the trade unions that workers must get pay increases that match inflation

Daily Mirror

What 9% inflation means for you - as gas, hotels and food top list of rises

As Bank of England governor Andrew Bailey prepares to go before the Treasury Select Committee to discuss whether the UK is about to dip into a recession, economists have forecast the cost of living to hit another high this week

Evening Standard

Minister says people should increase work hours or move to better job to combat cost of living crisis

A Government minister is at the centre of a row after saying workers struggling with rising bills should consider taking on more hours or simply moving to a “better paid job”.

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The Independent UK

Britons struggling with cost of living should get a ‘better job’, says minister

Home Office minister suggests people ‘take on more hours’ and make use of local job centres

The Guardian - US

Abortion rights: how a governor’s veto can protect women’s freedoms

The likely end of Roe has raised the stakes in gubernatorial races with candidates stressing on the urgency of the moment

Birmingham Post

South Wales Metro project on track to come in over budget

Transport for Wales said the project's originally £734m budget was being hit by inflation and material supply issues

The Independent UK

Asian shares mixed as markets eye US interest rates, prices

Asian shares are trading mixed, as investors eye surging energy costs and prospects for interest rate hikes in the U.S. and elsewhere

Daily Record

Out of touch Tories are all pomp and give no action on cost-of-living crisis, says SNP MP

In her Daily Record column, MP Alison Thewliss says Chancellor Rishi Sunak needs to set out a date for an emergency budget.

Daily Record

Queen's Speech proved just how out of touch the Tory UK Government has become

In her regular Daily Record column, the MP for Glasgow Central said the Conservative Government at Westminster has failed to help ordinary people struggling with the cost of living.

The Conversation

The cost of living crisis means bolder budget decisions are needed to lift more NZ children out of poverty

Urgent and bold – transformative even – budget decisions are needed if we are to get serious about the cost of living crisis and what it means for families and children living in or on the edge of poverty.

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