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The Latest Breaking News from Inflation

WASHINGTON: Consumer inflation in the United States nudged down only slightly in April, the Labor Department said on Wednesday, despite strong efforts to cool the economy and rein in price increases.

Bangkok Post

Inflation stayed high last month, compounding the challenges facing the U.S. economy

Consumer prices in April were 4.9% higher than a year ago, according to the Labor Department. Prices rose 0.4% between March and April.

WEKU

The day after the night before - Chalmers and Taylor on the budget

Will the budget make inflation worse? Are its boosts to welfare payments just the first step for the Labor government? Could the projected one-off surplus be followed by another one or more? What (if any) of the budget measures will the Coalition oppose? There’s quite a bit about this budget…

The Conversation

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Federal Reserve’s strategy ‘appears to be working’ as US inflation dips to 4.9%

Inflation in the US came in slightly below expectations at 4.9% in April, offering a boost to investors’ views that the Federal Reserve is close to its goal of bringing prices under control, and may safely pause its cycle of rate hikes.

Evening Standard

US inflation beat forecasts in April but remained high at 4.9%

Annual rate has fallen sharply since hitting 40-year high last June but prices are still rising at a rate over twice the Fed’s target

The Guardian - US

Interest rates latest and what it means for your mortgage, savings, and bills with changes expected this week

Another increase to interest rates is likely this week – but there is hope on the horizon for struggling households

Wales Online

Will Turkey's economic crisis impede Erdogan's re-election bid?

He's the most powerful leader since Ataturk founded the modern Turkish republic a century ago. After three stints as prime minister, the highly divisive and populist Recep Tayyip Erdogan is seeking a third consecutive term as president in Sunday's elections. A champion of religious piety and low interest rates, his…

France 24

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Stock Index Futures Move Lower Ahead of U.S. Inflation Data, Debt Ceiling Worries Weigh

June S&P 500 futures (ESM23) are down -0.20%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.23% this morning as investors looked ahead to a crucial U.S. inflation report that could provide fresh clues on the future of the Fed’s monetary policy.

Barchart

Stock Index Futures Move Lower Ahead of U.S. Inflation Data

Barchart

Congress has no right to criticise Centre on inflation: FM Nirmala Sitharaman

Union Finance Minister Nirmala Sithraman, who cast her vote for Karnataka Assembly polls on May 10, expressed confidence about BJP coming back to power in the State with a full majority and criticised the Congress over inflation during UPA rule.

The Hindu

FTSE 100 Live: US inflation at 4.9%; John Lewis staff back boss; pound strongest in year; FTSE closes at 7732

ASOS shares are down sharply after the fast fashion chain reported a deeper half-year loss and said it faced a challenging trading backdrop.

Evening Standard

John Lewis boss Sharon White wins staff confidence vote; US inflation slows to 4.9% – as it happened

Staff criticise retail performance, as John Lewis boss pledges group will always remain employee-owned

The Guardian - UK

Stock market today: Asia dips ahead of US inflation report

Asian shares are declining in muted trading as investors await an upcoming report on U.S. inflation, an important indicator for where interest rates and global growth might go in the coming months

The Independent UK

Tim Martin blasts ‘lack of understanding’ by MPs on inflation as Wetherspoon sales hit fresh record

The JD Wetherspoon boss said a ‘lack of understanding’ among some senior politicians presented a ‘real threat’ to future prosperity

Evening Standard

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Evening Standard

Bank of England interest rate hikes: Is this the week they peak?

All eyes on Threadneedle Street at noon on Thursday as thousands of mortgages and loans track the base rate

The Guardian - AU

How Australia’s newspapers reacted to the 2023 federal budget

Cartoons of treasurer Jim Chalmers dominated front pages, while the budget works ‘a Chalm’ for the voter featured on the Daily Telegraph

The New Daily

Chalmers defends budget’s ‘meaningful’ help amid split on interest rate risks

Treasurer Jim Chalmers has defended his second budget as offering "meaningful relief to households" – while not contributing to inflation.

The Independent UK

Americans likely saw little relief from inflation in April

After steadily declining for nearly a year, consumer price data to be released Wednesday will likely show that U.S. inflation remained stubbornly high in April, a sign that it might be entering a newer, stickier phase

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Bristol Post

Extra £8m support for Bristolians ‘most in need’ struggling with rising cost of living

Inflation has been in the double digits since last July, leaving many in Bristol struggling to pay the bills

The Guardian - AU

Economists say federal budget unlikely to have much effect on interest rates

While the 2023 budget is unlikely to budge the RBA, experts are watching for inflationary pressure from a population boom and energy prices

Reuters

Australian government rejects concerns budget may worsen inflation

Australia's Labor government said on Wednesday the billions in cost-of-living relief unveiled in the federal budget for families and businesses will not worsen inflationary pressures and put more pressure on the central bank to lift rates further.

StockNews.com

Why Steve Reitmeister is Becoming More Bearish

40 year investment veteran Steve Reitmeister unveils new clues that point to increased odds of bear market and new lows on the way for the S&P 500 (SPY). Get his updated market outlook, trading plan and top picks in the article below.

The New Daily

PM defends budget spending, denies inflation fears

Prime Minister Anthony Albanese says the budget reflects Labor's responsible economic management and at the same time doesn't leave struggling people behind.

The Guardian - AU

PM maintains ‘we’re the party of aspiration’ – as it happened

This blog is now closed.

ABC News

Federal budget 2023: Does a budget focused on the cost of living mean inflation and interest rates could get worse?

Treasurer Jim Chalmers is adamant that his budget will not make inflation worse and force the Reserve Bank's hand on interest rates — but economists are divided, with some saying it paves the way for a rate hike in the coming months.

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