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The Latest Breaking News from Inflation

Americans Learned a Lesson About Interest Rates. Washington Has Not.

Higher rates lead to more debt, and more debt begets higher rates, and on and on. Get the picture?

Reason

Raise Bank of England inflation target to 3%, says leading thinktank

Resolution Foundation also calls for Bank to have power to set below-zero interest rates in response to future downturns

The Guardian - UK

Britain needs economic and fiscal policy ‘reset’ to fight future crises – report

The Resolution Foundation is warning the UK is on course for debt to rise to around 140% of economic output over the next 50 years.

The Independent UK

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Fear factor: On the inflation battle

Inflation faced by consumers eased to 5% in September, but the preferred inflation rate remains 4%

The Hindu

Escalating Middle East conflict could send global inflation soaring, says S&P

Global credit rating agency says further deterioration in Israel-Hamas war could raise oil prices with knock-on effect for inflation

The Guardian - UK

If you’re in the 1% or middle class, inflation has actually made you richer, according to a top economist who’s been researching inequality for over 40 years

Yes, inflation is a tax on incomes, finds NYU’s Edward Nathan Wolff, but it also shrinks debt and can boost asset value, like that of homes.

Fortune

Business rates could rise by £1.95bn in ‘bleak picture’ for UK retail and hospitality

Inflation-linked increase next year would be ‘final nail in the coffin’ for many businesses, trade bodies warn

The Guardian - UK

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Stocks Tumble on Renewed Middle East Risks

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.78%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.50%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.85%. Stocks this morning are moderately lower on the risks...

Barchart

Bank of America warned consumers they would be pushed to the 'point of pain', CEO Brian Moynihan says we've now reached that point

Brian Moynihan, the CEO of Bank of America, said although consumers are buying less, some families are beginning to spend more than they're bringing in.

Fortune

S&P Futures Plunge as Middle East Fears Weigh on Sentiment, Tesla and Netflix Earnings on Tap

December S&P 500 futures (ESZ23) are trending down -0.45% this morning as uncertainties lingered in the Middle East, and investors weighed the possibility of further rate hikes by the Federal Reserve while eagerly awaiting earnings results from U.S. heavyweights Tesla and Netflix.

Barchart

Sticky inflation and oil price surge dims hopes for interest rate cuts

Most forecasters do not expect a cut for another year

Evening Standard

S&P Futures Drop as Middle East Fears Weigh on Sentiment, Tesla and Netflix Earnings on Tap

December S&P 500 futures (ESZ23) are trending down -0.34% this morning as uncertainties lingered in the Middle East, and investors weighed the possibility of further rate hikes by the Federal Reserve while eagerly awaiting earnings results from U.S. heavyweights Tesla and Netflix.

Barchart

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

From sugar to butter and transport to holidays, how the cost of everyday items varies

The Guardian - UK

UK house prices ‘little changed’ from a year ago but rents show record rise

The average UK house price was £291,000 in August 2023, which was little changed from 12 months earlier, the Office for National Statistics said.

The Independent UK

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Evening Standard

London remains UK's most expensive region even as house prices fall

London house price falls second highest in UK

Evening Standard

'£10 for return trip through Blackwall tunnel' warning as Sadiq Khan seeks Government help for lower tolls for low-income drivers

A toll will be imposed from 2025 which London mayor warns could be as high as £5.25 if the previous £4 proposal was increased in line with inflation

Motor1

Federal Tax Incentives To More Than Double US EV Sales By 2030: Analysis

Demand for lithium should be 15 percent higher in the United States in 2035 thanks to the US Inflation Reduction Act.

The Independent UK

Pensioners could be set for inflation-busting state pension rise next April

Experts have said a potential increase to the state pension of 8.5% could re-ignite the debate around the sustainability of the triple lock.

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news in one place.

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The Guardian - UK

Sticky UK inflation puts Rishi Sunak’s target in jeopardy

Ministers face anxious wait and consumers more pain on prices as September rate stays steady

The Independent UK

Inflation in UK unchanged at 6.7% in September, still way more than Bank of England's target of 2%

Inflation in the U.K. held steady at 6.7% in September as easing food and drink price rises were offset by higher fuel costs for motorists

The Guardian - UK

UK has highest inflation in G7 after CPI fails to fall in September – as it happened

UK consumer prices inflation remained at 6.7% in September, dashing hopes of a fall, as petrol and diesel prices increase

Evening Standard

Blow to Rishi Sunak as inflation rate stays at 6.7% for September

City forecasters had expected inflation to fall slightly

The Independent UK

UK inflation in shock pause at 6.7 per cent as soaring fuel costs offset falling food prices

An easing of food and non-alcoholic drinks prices was offset by higher fuel prices for motorists

The Guardian - UK

UK inflation unexpectedly holds steady at 6.7% amid rising fuel prices

Rate is unchanged in September, raising questions over next Bank of England decision on interest rates

The Independent UK

October dates for benefits, pensions and cost of living payments

Lower Energy Price Cap coming into effect this autumn but stubborn inflation means further interest rate hike likely to continue to place strain on mortgage holders

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