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The Latest Breaking News from Inflation

Thursday briefing: How a day of fevered general election speculation unfolded

In today’s newsletter: From a drop in inflation, to Cameron’s cancelled sojourn to Tirana. Now can Rishi Sunak persuade people that being ‘back to normal’ is enough?

The Guardian - UK

Asian Shares Mixed After Fed Minutes, While Nvidia Provides Support

Asian markets diverged Thursday after minutes from the Federal Reserve's most recent policy meeting indicated officials would keep interest rates elevated for some time as they struggle to bring inflation down to target.

International Business Times

Perception vs. reality: Poll reveals majority of U.S. citizens mistakenly feel the nation is in recession

Republicans and independent voters are more likely to believe this, the survey shows

Latin Times

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Walmart and Target earnings pull back the curtain on an America struggling with high inflation

“Many consumer pocketbooks are still stretched,” Walmart CFO John Rainey told analysts. “We see the effect of that in our business mix.”

Fortune

The new quiet luxury is burgers and fries: Over 60% of Americans are buying less fast food because it’s just too expensive, survey finds

“We're in this inflationary mental cycle as much as we are an inflationary reality cycle,” Columbia professor Stephen Zagor tells Fortune.

Fortune

US Fed's Rate Meeting Minutes Show Growing Inflation Concerns

A strong US economy and an uptick in inflation led the Federal Reserve's rate-setting committee to conclude that progress against rising prices had stalled, according to minutes of its most recent meeting published Wednesday.

International Business Times

Stocks Retreat on the Hawkish FOMC Minutes

The S&P 500 Index ($SPX ) (SPY ) Wednesday closed down -0.27%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed down -0.51%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed down -0.05%. US stock indexes on Wednesday closed moderately lower, with the Dow Jones Industrials falling...

Barchart

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Dollar Posts a 1-Week High and Gold Falls on Hawkish FOMC Minutes

The dollar index (DXY00 ) Wednesday rose by +0.28% and posted a 1-week high. Higher T-note yields Wednesday supported moderate gains in the dollar. Also, the weakness in stocks on Wednesday boosted some liquidity demand for the dollar. The dollar extended its gains Wednesday afternoon on the hawkish minutes of...

Barchart

Rishi Sunak’s election call means he thought the worst was yet to come

The polls show no sign of narrowing and insiders believe an IMF warning of a £30bn hole in the finances was weighing heavy

The Guardian - UK

Federal Reserve minutes: Policymakers saw a longer path to rate cuts

After several unexpectedly high inflation readings, Federal Reserve officials concluded at a meeting earlier this month that it would take longer than they previously thought for inflation to cool enough to justify reducing their key interest rate, now at a 23-year high

The Independent UK

SNAP benefits fail to cover cost of food across the country amid rising inflation, new study says

SNAP offers benefits to low-income families to supplements their grocery budget. But with economic turmoil in recent years, its assistance seems to be falling short

Latin Times

Things can only get better? For Sunak and the UK economy, this might be as good as it gets

Economies decide elections but with growth tentative, inflation sticky, and tax cuts unlikely, why would the PM wait

The Guardian - UK

Trailing Tories decide this is as good as their prospects will get

Fall in inflation hasn’t eased mistrust over economy, while Starmer leads polling on who will make better PM

The Guardian - UK

Inflation drops to 2.3%: but are we really ‘back to normal’? - The Standard podcast

Listen here or on your chosen podcast platform.

Evening Standard

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The Guardian - UK

Rishi Sunak and Keir Starmer kick off election campaigns

PM to set off on two-day tour of UK nations and Labour leader to head to Tory areas in south-east England

Fortune

Inflation may be cooling, but most Americans are still feeling squeezed by ‘cost of living creep’

About 27% of Americans report not being able to afford everyday expenses due to the cost of living.

Evening Standard

Halifax reduces mortgage prices despite inflation dashing June Bank of England rate cut hopes

Halifax announced that it will cut selected mortgage rates for movers and first-time buyers by up to 0.19 percentage points

The Conversation

As UK inflation falls to 2.3%, here’s what it could mean for wages

Inflation in the UK has fallen to 2.3% in the year to April – the lowest figure for almost three years. Before this, prices at UK tills were relatively low and stable for many years. But in 2021 they started rising, causing a continual increase in the price of goods…

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The Guardian - UK

UK inflation: which goods and services have changed most in price?

From olive oil to cocoa and carpets to holiday centres, how the cost of everyday things varies

The Independent UK

Where the inflation and national debt figures leave Sunak’s five priorities

Most of the Prime Minister’s five priorities had not been achieved by the end of last year.

Evening Standard

OPINION - The Standard View: Economy is on the up – but not fast enough for the Conservatives

What might have been a curtain call for the Government, with inflation falling to 2.3 per cent, was instead greeted with a sharp intake of breath. The markets were hoping for better, with a consensus forming around 2.1 per cent. As a result, a June interest rate cut now appears…

The Independent UK

Inflation: Why has it fallen and what it means for you

April’s inflation rate of 2.3% means that if an item cost £100 a year ago, the same thing would now cost £102.30

Evening Standard

FTSE 100 Live 22 May: Shares close down as inflation makes June rate cut unlikely, Anglo rejects fresh BHP bid

Higher-than expected UK inflation figures disappointed the City today, with shares closing down as the 2.3% Consumer Price Index reading dashed hopes of a June interest rate cut.

The Independent UK

UK house prices rise for the first time in a year, new ONS figures reveal

Average house price across the UK are now £283,000, according to the ONS

Evening Standard

Hunt hit by inflation ‘miss’ and benefits bill

Higher-than-expected inflation dealt a blow to interest rate cut hopes, while public borrowing grew by £1.5 billion

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