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The Latest Breaking News from Inflation

‘Hurt, angry, anxious, scared’: Converging crises lead to US baby formula shortage

Along with much of the globe, US consumers are reeling from a cost of living and supply-chain crisis. One example is a shortage of baby formula caused by a constellation of factors, from rampant inflation to a massive recall over safety concerns.

France 24

Why you should care about falling lumber prices

Lumber is the poster child for the wild inflation and supply chain ride of the past year or so

Axios

US casinos had best month ever in March, winning $5.3B

Inflation may be soaring, supply chains are snarled and the coronavirus just won’t go away

The Independent UK

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Bitcoin fails to live up to ‘digital gold’ hype

Investors hoped bitcoin would protect them against inflation. Instead, it has halved in value as inflation has soared to a 30 year high.

Evening Standard

Tell us: are you elderly and experience anxiety about the cost of living?

We’re interested to hear from elderly people in the UK who worry about affording the rising cost of living, and from their carers or relatives

The Guardian - UK

A Peek Into The Markets: US Stock Futures Gain; Inflation Data In Focus

Pre-open movers

Benzinga

Act now to help squeezed middle, Rishi Sunak is warned

Bosses called on the Chancellor to intervene “at pace” after Michael Gove ruled out an emergency budget on Wednesday

Evening Standard

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Apple bids farewell to the iPod

US tech giant Apple has announced it is stopping production of its iconic iPod device, which was first launched in 2001. With a battery life of 10 hours and enough space for 1,000 songs, the iPod completely changed the way we listen to music and paved the way for smartphones.…

France 24

Elon Musk hints Tesla may stop taking orders as supply chain problems bite

Inflation and supply chain issues continue to hit carmakers, with Toyota and Tesla both sounding the alarm.

Evening Standard

The 10 most expensive artworks ever sold

As Andy Warhol’s iconic portrait of Marilyn Monroe sells for $195 million, Amy Francombe charts the world’s other record-breaking works of art

Evening Standard

1.5m UK households will struggle to pay bills in next year due to cost of living squeeze

Think tank calls for goverment to reinstate universal credit payments for struggling households

The Independent UK

How low-income people pay the steepest price when inflation hits

The annual inflation rate likely eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

WEKU

Inflation may be easing — but low-income people are still paying the steepest prices

The annual inflation rate eased somewhat in April, but not enough to meaningfully reduce the burden on lower-income Americans.

WEKU

Restaurants that survived the pandemic are now threatened by inflation

Higher costs for food, labor, rent, gasoline and cooking gas make it harder for casual dining places to buy, cook and deliver meals. And they're limited in how much they can pass on to customers.

WEKU

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The Guardian - AU

‘Over-the-top alarmism’: economists dismiss concerns wage rises cause inflation

Australia’s minimum wage is shrinking compared to median pay, bucking global trends

Daily Record

One in five people 'have lost sleep' over cost of living crisis as bills soar

The UK Government has been accused of failing to protect people from inflationary pressures and rising energy bills.

The Independent UK

Asian stocks mixed, China gains ahead of US price data

Shares are mixed in Asia with Chinese benchmarks pressing higher after a rally in technology companies helped reverse most of an early slide on Wall Street

The Hindu

India’s vulnerability in the global economic tumult

There is no alternative to timely policy responses, heeding sound economic advice, and strengthening institutions

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The Guardian - UK

US inflation dips to 8.3% but stays close to 40-year high –as it happened

US food prices rise at fastest rate since 1981, as ECB’s Lagarde cements expectations for July rate hike, and German price rises hit record high

Evening Standard

Michael Gove rules out Emergency Budget despite cost-of-living crisis

The Levelling-Up Secretary did signal more help may be on its way for poorer households

The Independent UK

Queen’s Speech offers little in battle to curb cost of living crisis

It was a forensically honed mood-setter for debates whose outcomes will influence every aspect of our lives

The Guardian - UK

Wednesday briefing: How Boris Johnson could have tackled the cost of living crisis

In today’s newsletter: after a Queen’s speech that ignored rising costs, Archie Bland asks economist Torsten Bell what should have been announced

The Independent UK

Biden sees bigger role for US farms due to Ukraine war

President Joe Biden wants to put a spotlight on the spike in food prices from Russia’s invasion of Ukraine

The Guardian - AU

With falling real incomes and rising prices many people don’t believe the story of prosperity Scott Morrison is preaching

Australians facing rising interest rates and rising average tax rates have little to celebrate

The Guardian - AU

Factcheck: is Albanese’s backing of a 5.1% minimum wage rise an ‘unprecedented’ intervention?

Government claims Labor leader is improperly interfering with independent process, but it wouldn’t be the first time a precise number was proposed

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