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The Latest Breaking News from Inflation

Households 'need to accept' they're poorer, says Bank of England economist

HOUSEHOLDS and businesses across the UK “need to accept” they are poorer and stop looking for pay increases and pushing prices higher, a chief…

The National (Scotland)

Inflation has fallen, but one or two more interest-rate rises are still likely

Australia’s inflation rate has fallen from its 30-year high of 7.8% in the December quarter of 2022 to 7.0% in the March quarter of 2023. But it’s still likely the Reserve Bank of Australia will push up interest rates again before the end of the year to drive inflation back…

The Conversation

Latest economic figures show Australia’s inflation easing ahead of RBA interest rate decision

The consumer price index for the first three months of 2023 has come in at an annual rate of 7%, down from the 32-year high of 7.8%

The Guardian - AU

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Inflation eases to 7 per cent – but still too high for RBA

Official inflation data shows consumer prices rising seven per cent annually in the March quarter, down from 7.8 per cent in the previous quarter.

The New Daily

Inflation falls from peak, but still more than twice the top of the Reserve Bank's target for interest rates

Australia's inflation rate is falling from its December peak, with prices increasing over the March quarter at the slowest pace in more than a year.

ABC News

Pret’s five-coffees-a-day subscription rises to £30 a month

Chain raises price amid' ‘inflationary challenges’ but adds in 10% off food, as part of Club Pret rebrand

The Guardian - UK

ASX slips as inflation slows, Wall Street sinks on recession fears as First Republic Bank plunges 49pc

The Australian share market closed slighlty lower after the latest ABS figures showed that inflation fell from its December quarter peak, while Wall Street suffered its biggest falls in a month as fears of a banking crisis resurfaced, leading to shares of First Republic Bank plunging 49 per cent overnight.

ABC News

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Brits must accept they're poorer and stop demanding pay rises says Bank of England chief

Chief economist Huw Pill said there was a game of 'pass the parcel' taking place over the economic pain - and said workers asking for higher pay and firms putting up prices were fuelling inflation

Daily Mirror

Quarterly inflation is expected to ease, but the Reserve Bank may still lift interest rates

Even if inflation eases, a leading economist and strategist believes today's consumer price index figures will give the Reserve Bank of Australia reason to resume its rate-hiking cycle at its next meeting.

ABC News

Why is the UK’s inflation rate still higher than other wealthy countries?

The UK’s 8.7% CPI figure in March compares with 6.1% in the eurozone and 4% in the US

Evening Standard

Households should ‘accept’ being poorer, Bank of England’s top economist says

Huw Pill said workers asking for higher pay and shopkeepers putting up prices is ‘self-defeating’ as it fuels inflation

The Independent UK

Britons ‘need to accept’ they’re poorer, says Bank of England economist

Chief economist Huw Pill says workers and firms should stop trying to pass on rising costs by hiking prices or demanding better wages

The Guardian - UK

Bank of England deputy governor: Pandemic support isn’t to blame for inflation

Broadbent pointed to supply chain disruption and the War in Ukraine as the factors that best explain the cost-of-living crisis

Evening Standard

Gen Z is making a ‘Diet Coke break' the new smoke break as a way to escape work

In an era of inflation and disillusionment with work, younger workers are forgoing coffee and smoke breaks for soda breaks instead.

Fortune

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The Guardian - UK

Britons turn to stores’ bargain ranges as grocery price inflation stays above 17%

Cost of living squeeze continues, led by price rises for eggs, milk and cheese, say analysts Kantar

Kiplinger

Is Inflation a Big Retirement Worry? How to Protect Savings

Concerns about how inflation eats into your resources or limits your ability to save sufficiently for retirement are real, but there are four things you can do to cope.

Insider UK

Food and drink firms demand support from Humza Yousaf

Warning that soaring inflation is hitting the industry

The Guardian - UK

UK government borrowed £13bn less than expected last year

Better than expected figures could give Jeremy Hunt wriggle room to cut taxes or increase spending

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Evening Standard

Primark’s parent says price rises ‘nearly through’ as cost-of-living crisis hits profit

Budget fashion chain adds to hopes inflation has peaked as it looks ahead to future price cuts

Daily Mirror

Grocery price inflation dips - but shoppers still paying 17.3% more in supermarkets

Analysts at Kantar today revealed grocery price inflation dropped slightly to 17.3% for the four weeks to April 16 - down marginally from a record 17.5%

The Guardian - UK

Brits ‘need to accept’ they’re worse off and stop pushing wages and prices higher, says BoE chief economist – as it happened

Huw Pill says someone in UK needs to accept that they’re worse off and stop trying to maintain their real spending power through higher wages or prices

Chronicle Live

Concern about Northumbria Police's proposed cuts after spate of crime in Prudhoe

More than 100 community support officer roles are being cut due to inflationary pressures

The New Daily

Analysis outlines pathway to a balanced budget

Returning the federal budget to balance in less than a decade is possible, according to PwC modelling, but will take dogged commitment to budget repair.

Bangkok Post

Bank of Thailand puts stability above stimulus

Amid the ongoing recovery pace, the economy no longer requires any stimulus measures, but the country requires normalisation and the implementation of economic measures to support economic stability and potential growth for the longer term, says the governor of the Bank of Thailand.

The Conversation

It might be tempting to blame inflation on profits, but the reality is still about high demand and short supply

Despite the latest inflation figures for New Zealand coming in slightly lower than expected by many economists, the rate remains stubbornly high. At 6.7% for the year to March 2023, the inflation rate is more than double the Reserve Bank’s target range of 1-3%.

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