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The Latest Breaking News from Inflation

Centre says stoppage of rice and wheat supply to States is aimed at controlling inflation

Under the scheme, the Karnataka Government has promised to provide 10 kg of food grains/rice to every member of a Below Poverty Line (BPL) household.

The Hindu

There won’t be a true recession anytime soon—but a ‘growth recession’ is still on the menu next year, BofA warns

Bank of America's chief economist Michael Gapen revised his recession forecast again this week, citing strength in the labor market—but he says a "growth recession" is still coming in 2024.

Fortune

America’s latest inflation wave is all about corporations ‘using excuses’ and ‘cover’ to increase profits, says top UBS economist

“We’re seeing this expansion of margin under the cover of, ‘Oh, it’s a general inflation problem, we can’t help it,’ Paul Donovan of UBS said Thursday.

Fortune

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3 Tobacco Stocks to Add to Your Watchlist in June

Despite facing several challenges, tobacco companies continue to bring newer products to drive their growth. Tobacco use will likely grow, with inflation easing considerably from last year’s peak. Therefore, it could be wise to add fundamentally strong tobacco stocks such as Altria Group (MO), British American Tobacco (BTI), and Vector…

StockNews.com

Lumber Could Have Found a Bottom – What’s Next?

The lumber futures market remains illiquid, but the price has been edging higher over the past weeks. At over $500 per 1,000 board feet, lumber’s price is above the pre-2018 all-time $493.50 high. Meanwhile, the new physical contract continues to experience increasing interest.

Barchart

Childcare costs have gone up by 220% in the US since 1990, new report finds

Report found that childcare costs are surpassing the rise of inflation

The Independent UK

Stocks Rebound on Hopes Fed is Near the End of its Rate Hike Campaign

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is up +0.46%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is up +0.68%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +0.41%. U.S. stocks this morning shook off early losses and...

Barchart

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Deflation Pushes Producer Prices To 28-Month Lows Ahead Of Fed’s Interest Rate Decision

The PPI print follows the May consumer price index (CPI) reading, which came in lower than expected.

Zenger

ECB raises interest rates by quarter of a point to tame inflation

Move marks eighth successive rise, highlighting struggle to cool price rises amid juddering growth

The Guardian - UK

Bills, bills bills? Beyoncé blamed for surprise hike in Swedish inflation

Hordes of fans travelled from overseas to see the shows, taking advantage of lower ticket prices and boosting demand for hotels and restaurants

Evening Standard

OPINION - ‘Worrying spike in mortgage costs but markets could turn for the better’

If the markets assess that inflation may fall back quicker than current expectations, then lenders may also consider bringing back better deals

Evening Standard

Markets Today: Stocks Fall on Hawkish Global Central Banks

Morning Markets June E-Mini S&P 500 futures (ESM2 3) this morning are down -0.50%, and June Nasdaq 100 E-Mini futures (NQM2 3) are down -0.79%. U.S. stock index futures this morning are moderately lower on concern major central banks will keep interest rates higher for longer to contain inflation. The...

Barchart

Inflation: why prices look likely to stay high in the UK and Ireland, and what that means for mortgages

The European Central Bank (ECB) has raised its three key interest rates by 0.25% to their highest levels in more than 20 years. The ECB’s “main refinancing rate” which dictates the cost of borrowing across much of Europe, including for people with tracker mortgages in Ireland, will rise from 3.75%…

The Conversation

UK regulator to ban ads for ‘misleading’ broadband and mobile deals

Information about mid-contract price increases must be made clear and upfront to consumers, says CAP

The Guardian - UK

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The Independent UK

Retail sales rose 0.3% in May despite pressure from higher inflation and interest rates

Americans increased their spending at retailers last month despite pressure from still-high inflation and rising borrowing costs

Evening Standard

European Central Bank hikes interest rates by quarter point with inflation “too high for too long”

It now expects inflation to be even higher than previously thought.

Daily Mirror

Mortgage mayhem explained: Why are rates rising and what should you do now?

Mortgage rates are rising, spelling more misery for millions of homeowners across the country - but why are deals getting more expensive and what should you do next?

Tribune News Service

Bankrate: What the Fed’s June rate pause means for homebuyers and sellers

The Federal Reserve is taking a break from its war on inflation. After raising rates 10 times in 10 meetings in 2022 and 2023, the central bank made no change during its latest meeting. Fed Chairman Jerome Powell announced no further increase in the federal funds rate on June 14…

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Insider UK

‘No alternative’ to interest rate rises for lowering inflation - Chancellor

Households are braced for a further increase in rates from the Bank of England next week

The Hindu

Data | Parsing the inflation story of the past year

The Ukraine-Russia conflict exacerbated an already fraught global trade and production system

Fortune

BlackRock's Larry Fink: A.I. will solve low productivity, high inflation

“A.I. has the huge potential to increase productivity,” BlackRock's CEO said on the company's investor day.

The Independent UK

The Fed has paused. How long will Europe's central bank keep raising rates in a shaky economy?

The U_S_ Federal Reserve has hit “pause.”

The Independent UK

Bills Bills Bills: Beyoncé blamed for Sweden’s shock rise in inflation

The Guardian - AU

Afternoon Update: Thorpe alleges being ‘inappropriately touched’ in parliament; NZ enters recession; and did Beyoncé bump Swedish inflation?

Thorpe tells Senate she had reported experiences to former Coalition government

The Guardian - AU

Beyoncé concert in Stockholm blamed for unexpectedly high Swedish inflation

Start of superstar’s world tour ‘seems to have coloured inflation’, says economist, after tens of thousands of fans flocked to the capital for concerts

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