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The Latest Breaking News from Inflation

'Incompetent' PM and Chancellor blamed as UK heads for recession

BORIS Johnson’s “catalogue of failure” is inflicting poverty on millions of people, the Scottish Greens have warned as the UK was forecast…

The National (Scotland)

Sensex crashes 1,158 points; Nifty ends at 15,808: Top reasons behind today's fall

NEW DELHI: Equity indices plunged for the 5th straight session on Thursday with the benchmark BSE sensex crashing over 1,000 points amid weak cues from global markets.

The Times of India

State Pension petition calling for £380 weekly payments for every older person nears 50,000 signatures

At 100,000 signatures the petition will be considered for debate in Parliament.

Daily Record

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A UK recession seems certain – the question is how deep will it be

Analysis: Rising prices, a tight labour market and a falling pound – the economy ticks every warning box

The Guardian - UK

Ofgem boss warns Scottish households of new energy bill rise this year

Speaking in Glasgow, the chief executive of energy regulator Ofgem warned households that they should prepare for another surge in energy bills later this year as a result of the war in Ukraine

Glasgow Live

Airfare inflation is the new used car inflation

Like used cars last year, this has a big impact on overall inflation.

Axios

Susie Lau on the Met gala and life’s truly gilded moments

As the gilded glamour of the Met Gala battled with weighty world issues for her attention, Susie Lau’s thoughts turned to where the true gold in life lies

Evening Standard

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Apple Supplier Foxconn Weathers It All To Report Highest Quarterly Profit In 8 Years

Apple, Inc. (NASDAQ: AAPL)'s iPhone assembler Hon Hai Precision Industry Co., Ltd.

Benzinga

Nuclear talks: Iran’s Raisi launches major economic reform

President announced reforms a day before the EU’s coordinator for nuclear deal negotiations arrived in Tehran.

Al Jazeera

Bank of Thailand 'closely monitoring' weakest baht in 5 years

The Bank of Thailand (BoT) on Thursday said the movement of the baht has had limited impact on inflation and the economy, after the currency reached its weakest rate against the US dollar for five years on Thursday.

Bangkok Post

Baby formula shortage leaves parents scrambling nationwide

A combination of product recalls, rising prices and supply chain issues have particularly affected the availability of formula

The Independent UK

New figures show how much wealth - and happiness - UK has lost since pandemic

72% of us expect to be worse off as a result of inflation

Wales Online

UK recession fears grow as rising inflation set to leave more Scots struggling

Tory ministers are under mounting to pressure to get to grips with the cost of living crisis amid predictions the UK economy is heading for recession.

Daily Record

Scottish job growth eases to four-month low in April

Steeper drop in candidate supply reported, as demand for staff strengthens, while starting pay continues to increase rapidly

Insider UK

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Birmingham Post

Landlord Grainger hails strong results thanks to strengthening rental market

The North East-based listed landlord also said it was making £9.2m available for potential fire safety remediation works

The Independent UK

UK growth slows to weakest for a year as recession fears grow

The Office for National Statistics said GDP rose by 0.8% between January and March, down from growth of 1.3% in the previous three months.

Daily Mirror

UK economy shrank in March as households rocked by soaring food and living costs

Prices are rising at their fastest rate for 30 years, driven by soaring fuel, food and energy costs - and the worst is yet to come, the Bank of England has warned

The Independent UK

Asian shares track technology-led sell-off on Wall Street

Shares have declined in Asia following the release of U.S. inflation data that was worse than expected

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ABC News

Health spending and cost of living major focus of Mark McGowan's WA budget

Mark McGowan says this year's budget aims to ease cost of living pressures, but welfare groups say it's not enough while unions describe the absence of a pay rise for public sector workers is a "kick in the guts".

The Independent UK

UK economy shrank 0.1% in March as inflation and Ukraine war takes toll

Risk of recession increases as economy goes into reverse, piling pressure on chancellor to offer help to struggling families

The Guardian - UK

UK economy shrank by 0.1% in March as cost of living crisis bites – as it happened

Calls for emergency budget grow as UK economy contracts unexpectedly in March, with consumers cutting back on spending, and car sector struggling

Al Jazeera

Philippines’s GDP growth blasts past forecasts

Southeast Asian country’s gross domestic product expands 8.3 percent in first quarter.

The Guardian - AU

Anthony Albanese narrows scope of pledge to support 5.1% pay rise to match inflation

Labor leader says stance only relates to those on minimum wage of $20.33 an hour and is conditional on industrial tribunal ordering increase

The Guardian - AU

Morrison stance on minimum wages branded ‘hypocrisy’ as student loans remain indexed at inflation rate

National Union of Students says the Liberal’s position on minimum pay increases is at odds with automatic indexing of student loans to CPI

Bangkok Post

Goldman predicts Thai interest rate hike in Sept

Hawkish expectations in Asia’s emerging markets are piling up as traders become increasingly convinced that central banks in the region cannot ignore the threat of domestic inflation any longer.

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