The Latest Breaking News from Inflation

Boris Johnson faces defence spending row as Nato leaders gather

Soaring inflation and the battered public finances have left a Tory commitment to annual real-terms increases in defence spending in jeopardy.

The Independent UK · Jun 28, 2022

Boris Johnson poised to ditch key UK defence spending promise despite Russia's war

The Prime Minister will trumpet Britain's 2% of GDP spending on defence - but another part of his policy, to raise spending above inflation, could soon be scrapped. It came as Boris Johnson insisted "I don't think" Britain will end up at war with Russia

Daily Mirror · Jun 28, 2022

Europe's central bank ready to 'stamp out' surging inflation

The head of the European Central Bank says it will move gradually to combat soaring consumer prices with interest rate hikes in July and September but will keep its options open to “stamp out” inflation if it surges faster than expected

The Independent UK · Jun 28, 2022

Connecticut’s minimum wage rises again, to $14 an hour July 1. It won’t be the last increase

Connecticut’s minimum wage rises to $14 an hour July 1, up $1 and cheering low-wage workers while adding to business owners’ worries about labor shortages and inflation.

Tribune News Service · Jun 28, 2022

Doctors do not deserve 30 per cent pay rise, says minister

Doctors do not deserve a 30 per cent pay rise, a minister said on Tuesday as he warned of a “dog chasing its tail” inflation spiral if big wage rises are agreed.

Evening Standard · Jun 28, 2022

Asian Markets' Rally Fizzles as Rates, Inflation Fears Return

Asian markets mostly fell Tuesday as investors struggled to maintain a recent rally while weighing central banks' inflation-fighting rate hikes and the possibility of a recession. Renewed concerns about thinning supplies and rising demand also helped push oil even higher, after enjoying a big bounce Monday, said AFP. Shares rallied…

Asharq Al-Awsat · Jun 28, 2022

Central bank policymakers should not assume reputations will recover

As inflation soars, the Fed, ECB, Bank of England and others are more regularly challenged than in the past

The Guardian - UK · Jun 28, 2022

Firms are driving up inflation - why doesn’t Johnson talk to them about restraint?

The government expects workers to shoulder the burden – while price spikes mean huge windfalls for some companies, says Carys Roberts of the IPPR

The Guardian - UK · Jun 28, 2022

Cancelled flight? Shoddy clothing? Disappointing meal? Blame skimpflation, the hidden curse of 2022

Reluctant to raise prices, refusing to sacrifice profits, travel companies, retailers and restaurateurs are cutting corners wherever they can, usually without telling their customers. Is poor quality the new normal?

The Guardian - UK · Jun 28, 2022

Portishead rail line's future uncertain as questions raised over funding and inflation

The government is 'very nervous' about environmental issues, according to the metro mayor

Bristol Post · Jun 28, 2022