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The Latest Breaking News from Inflation

Wang Tao: How Far Will China's Yuan Depreciate

The yuan could weaken further against the U.S. dollar in the coming months, ending the year at 6.9

Caixin Global

Average UK house price hits record high of £286,000 but market to ‘come back down to earth’ as cost of living soars

London‘s average house price is now £537,896 but “economic headwinds” are expected to calm the market by the end of the year

Evening Standard

Bank of England warns of £2,800 energy bills and 10% inflation in chilling prediction

Those on fixed rate mortgages will be shielded for now but it will drive up repayments for others on variable rates deals

Chronicle Live

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FOREX-Dollar near 20-year Highs amid Global Markets Rout

The dollar index hovered near 20-year highs against major peers on Friday, as market sell-offs in the face of global recession fears propped up the safe haven currency. European stocks opened lower and were heading for their worst week in two months, following a rout on Wall Street, Reuters said.…

Asharq Al-Awsat

Sage of Soho warns on “perfect storm” for economy as recession fears mount

BRITAIN’S top ad man today warned of a hard landing for the UK, one day after the Bank of England predicted that inflation will top 10% and the economy could fall into recession.

Evening Standard

UK house prices rise again as buyers looks for larger homes

The cost of homes has continued to climb despite the cost-of-living crisis putting a financial squeeze on households

Birmingham Post

Sainsbury's shoppers angry over new £80 delivery pass

Shoppers shared their anger on social media

Nottingham Post

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Pupils in England showing high anxiety in run-up to GCSEs and A-levels, teachers say

Reports of panic attacks, anger, self-harm and disengagement before first exams in three years since Covid

The Guardian - UK

Interest rates: What are they and how do they affect inflation?

The Bank of England has raised interest rates to their highest level in 13 years

The Independent UK

The Week Ahead: Hoping for a turn in inflation trend, Fed will fight on

Now that the Federal Reserve has polished up its inflation-fighting credentials, has consumer inflation topped out?

Miami Herald

Morrisons in McColl's 'rescue talks' as chain warns 1,100 stores are at risk

The retailer has been in discussions with potential lenders - including Morrisons - to shore up the business, which struggled badly during the pandemic due to supply chain issues, inflation and a heavy debt burden

Daily Mirror

Tesla Raises Model Y Prices Again In Canada Amid Inflation, Supply Chain Woes

Tesla, Inc.'s (NASDAQ: TSLA) Model Y SUVs have become more expensive in Canada following another round of price hikes in the country.

Benzinga

Convenience store chain McColl’s collapses, putting 16,000 jobs at risk – as it happened

The chain said discussions with lenders collapsed on Friday as creditors refused to extend a deadline for the retailer to find more cash

The Guardian - UK

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

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The Guardian - AU

Queensland workers in pay dispute to only respond to bosses with ‘nanu nanu’ in protest

Visy staff to don pink high-vis vests and only respond to bosses with Robin Williams catchphrase to show management they mean business

The Independent UK

Asian stocks follow Wall St lower as rate hike worries grow

Asian stocks have followed Wall Street lower as fears spread that U.S. interest rate hikes to fight inflation might stall economic growth

The Guardian - UK

Friday briefing: Mixed picture can’t obscure local anger with Boris Johnson

In this morning’s newsletter: Archie Bland reports from Sunderland on a night when Tory support collapsed in the local elections, but Labour failed to inspire

The Guardian - AU

Real wages to fall by 3% this year as inflation surges, says RBA

Australians’ wages are tipped to grow over the next two years, but are not predicted to catch up with rising prices until 2024

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The Independent UK

US hiring was likely strong again in April despite inflation

For the past year, America’s job market has run like a well-engineered machine, adding an impressive average of 540,000 workers a month despite a punishing inflation rate, Russia’s ruinous war against Ukraine, a still-risky pandemic, jittery financial markets and the prospect of much higher borrowing costs

Daily Record

We can't wait for Johnson to go

It is simply the case that Scots can no longer afford to have Boris Johnson in charge of the country for a moment longer.

AAP

Modest fee increases tipped for SA budget

The South Australian government says it will keep fee increases in the upcoming budget to well below inflation.

Benzinga

Bitcoin, Ethereum, Dogecoin Plunge: More Pain Ahead Or Will 'FUD Like This' Cause A Crypto Spike Soon?

Bitcoin and other major coins tumbled Thursday evening as the global cryptocurrency market cap dropped 7.2% to $1.7 trillion at press time.

The Independent UK

What the papers say – May 6

The papers are led by the UK’s highest inflation figures in 40 years as voters went to the polls in local elections.

The Independent UK

Three graphs that show UK’s looming economic turmoil

Millions face unprecedented spike in energy bills and second-biggest fall in living standards since records began

Benzinga

Why Bitcoin, Ethereum And Dogecoin Were Volatile Today

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