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The Latest Breaking News from Inflation

Farmers accuse supermarkets of 'ripping off' consumers amid fresh produce price-hike

Retailers say consumers should brace themselves for continued price rises on the back of inflation but farmers accuse them of price gouging with "atrocious" mark-ups.

ABC News

Zalando Posts First Decline in Sales Since Founding

Zalando posted a decline in sales for the first time since the German online fashion retailer was founded, leading it to dim its outlook for 2022 on Thursday. First-quarter sales fell by 1.5%, to 2.2 billion euros ($2.33 billion), after posting a 46.8% increase in the same quarter last year…

Asharq Al-Awsat

Interest rates UK - live: Bank of England reveals hike to highest level in 13 years

Inflation will hit 10 per cent this year, according to central bank forecast

The Independent UK

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Iran Prepares for Protests Amid Fears of Nuclear Negotiations Failure

Iranian authorities issued "secret directives" to the security and the judiciary units to prepare for public protests after an increase in food prices due to fears of the collapse of the Vienna talks, Iranian sources told Asharq Al-Awsat. The sources said that the security services, police, riot control, the judiciary,…

Asharq Al-Awsat

Reach reports 'challenging conditions' hitting revenue

National publisher has seen further inflation in operating costs, particularly within print

Insider UK

FTSE 100 Live: Pound crashes on BoE outlook, rates hiked, Musk raises $7bn for Twitter bid, Shell profits soar

Interest rates reached 1% for the first time in 13 years today as Bank of England policymakers battle rampant inflation.

Evening Standard

Bank of England interest rate rise - how it would affect savings, mortgages and pensions

Interest rates are expected to be hiked again on Thursday to 1% - their highest level for 13 years

Wales Online

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Pound tumbles to two-year low as stagflation fears rise – as it happened

Sterling tumbles to lowest since June 2020 as Bank of England lifts interest rates to 13-year high, cuts growth forecasts, and sees inflation hitting 10%

The Guardian - UK

For services, April brings high costs with fast growth

S&P India Services PMI zooms to 57.9 in April from 53.6 in March; export orders fall the hardest since September 2021

The Hindu

Asian stocks rise after Fed chair downplays bigger rate hike

Asian stock markets have followed Wall Street higher after the Federal Reserve chairman downplayed the likelihood of bigger rate hikes following the U.S. central bank’s biggest increase in two decades

The Independent UK

Cost of your mortgage and other borrowing set to increase today to 13-year high

Another increase is expected in August

Wales Online

Bank of England expected to raise interest rates to 13-year high

Economists predict minimum 0.25 point rise as households contend with cost of living crisis

The Guardian - UK

Bitcoin Is Halfway To The Next Halving: Another Bull Run Incoming?

The world's first cryptocurrency Bitcoin (CRYPTO: BTC) is on its way to decreasing its inflation rate once again, with many in the cryptocurrency community believing that it will lead to another parabolic price increase.

Benzinga

Rising interest rates in US will hinder foreign economies

When the Federal Reserve raises interest rates — as it did Wednesday — the impact doesn’t stop with U.S. homebuyers paying more for mortgages or Main Street business owners facing costlier bank loans

The Independent UK

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Wales Online

Bank of England set to hike interest rates to 13-year high

They are expected to rise from 0.75% to 1% today with another increase likely in August

Bangkok Post

Thai bonds may extend 10% losses as swaps price in rate hikes

Thai bonds, the biggest loser among Southeast Asian peers, are set to extend their slump as rising inflationary pressures and the risk of a hawkish pivot by the so-far accommodative Bank of Thailand (BoT) weigh on the debt.

The Hindu

Morning Digest | PM Modi leaves for home after concluding three-nation European tour; COVID-19 under control but caution needed, says Centre, and more

A select list of stories to read before you start your day

Reuters

Sri Lankan tea pickers' dreams shattered by economic crisis

On a lush plantation in Sri Lanka, Arulappan Ideijody deftly plucks the tips of each tea bush, throwing them over her shoulder into an open basket on her back.

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news in one place.

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Benzinga

Bitcoin, Ethereum, Dogecoin Rally After Fed Hikes Rates As Expected: Why This Analyst Thinks It's A 'Fakeout' Rather Than Breakout

Bitcoin traded higher and hovered just under the psychologically important $40,000 mark on Wednesday evening as the global cryptocurrency market cap shot up 5.5% to $1.8 trillion.

Los Angeles Times

Fed orders biggest interest rate hike since 2000 to combat inflation

WASHINGTON — For the first time in 22 years, the Federal Reserve on Wednesday pushed up interest rates by a full half-percentage point — a significant escalation of its efforts to get control of troublingly high inflation.

The Guardian - AU

Laden with ‘world-beating’ debt, Australian households are at increased risk as rates rise, expert says

Policies encouraging property investment have fuelled soaring debt ratio to create ‘big potential problem’, researcher warns

The Guardian - AU

More interest rate hikes are coming, and housing affordability is about to get crunched

Rock-bottom rates provided a buffer to soaring house prices, but that is over. Repaying a mortgage will be harder than ever

Axios

The Fed is putting America's inflation problem on its shoulders

Chair Jerome Powell addressed the American public directly, and owned the current situation

WEKU

The Dow rallies to its best day since 2020 after the Fed rules out larger rate hikes

Markets jumped after Fed Chair Jerome Powell said the central bank was not contemplating bigger rate hikes than the half-a-percentage-point increase it delivered on Wednesday.

ABC News

Penny Wong says annual aid to Solomon Islands is 28 per cent lower on average under the Coalition than it was under Labor. Is she correct?

Shadow Minister for Foreign Affairs Penny Wong says the Coalition has spent 28 per cent less on development assistance to the Solomon Islands than Labor did when last in government. Is that correct?

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