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The Latest Breaking News from Inflation

Inflation-beating pay rises can’t be widespread: RBA

RBA governor Philip Lowe says the lowest-paid workers need to be insulated from high inflation but a surge in wages across the board could be a problem.

The New Daily

Struggling Australians can cut back spending or work more to get into ‘positive cash flow’, Philip Lowe says

The Reserve Bank governor says rates will keep being lifted if necessary, despite ‘significant financial pressure’ for some

The Guardian - AU

Inflation declines to 21-month low

The country's rate of inflation last month plunged to a 21-month low attributed to decreasing fuel prices and electricity bills as well as a high price base in May last year, with the rate expected to continue easing in June.

Bangkok Post

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Michael Pascoe: Is the RBA acting out of spite or just lost the plot?

Passing without notice in April, the Reserve Bank pulled a neat little trick, apparently making multiple billions of dollars in losses “disappear”. I’ve

The New Daily

1 Must-Buy Retailer Stock, 2 to Sell

Despite persistent inflation, consumer spending has remained robust lately, boosting the retail industry’s growth prospects. Therefore, retailer stock Build-A-Bear (BBW) could be a wise investment due to its solid fundamentals and bright growth outlook. However, struggling retailer stocks SIGNA Sports (SSU) and Rent the Runway (RENT) might be best avoided…

StockNews.com

3 Luxury Stocks to Invest In

Despite the uncertain macroeconomic conditions, the luxury industry has remained resilient. As inflation continues to ease and consumer spending remains strong, it could be wise to invest in fundamentally strong luxury stocks, TJX Companies (TJX), Weyco Group (WEYS), and J.Jill (JILL). Keep reading.

StockNews.com

Buy, Sell or Hold? Nike (NKE) and Foot Locker (FL)

Sticky inflation, the Fed’s aggressive rate hikes, and the US banking sector turmoil is paving the way for a recession this year. Thus, I think this is not the right time to consider investing in Foot Locker (FL) and NIKE (NKE). Read on.

StockNews.com

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A.P. Secretariat CPS Association demands govt. to revert to Old Pension Scheme

The Andhra Pradesh Secretariat CPS Association has demanded that the State government restore the Old Pension Scheme (OPS) and do away with the Contributory Pension Scheme (CPS) instead of the proposed Guaranteed Pension Scheme (GPS). In a letter submitted to the Principal Secretary (HR), Finance Department, on June 6 (Tuesday),…

The Hindu

Economists warn worst is yet to come after June interest rates rise

The June interest rates hike might not be the last, either, with RBA boss Philip Lowe saying more may still be needed.

The New Daily

Futures are Signaling a Muted Open for Wall Street as Investors Weigh Economic Outlook

June S&P 500 futures (ESM23) are down -0.08%, and June Nasdaq 100 E-Mini futures (NQM23) are down -0.06% this morning after three major U.S. benchmark indices finished the regular session lower as weaker-than-expected U.S. economic data stoked investor concerns about the health of the economy.

Barchart

Political point scoring over latest RBA rate rise won’t help those feeling the ‘painful squeeze’

How high must rates go to choke inflation? Blaming Labor’s budget, price-gouging businesses or the national wage increase isn’t an answer

The Guardian - AU

Sky-high egg prices are finally coming back down to earth

The industry is recovering from a massive bird flu outbreak and high inflation rates, but prices may not fall to what they once were.

WEKU

Why Reserve Bank Governor Philip Lowe wants to damage the economy further

Reserve Bank Governor Philip Lowe and his board have pushed up interest rates yet again – for the twelfth time in 14 months – because they want to damage the economy further.

The Conversation

Australian central bank boosts cash rate to 4.1% with 12th hike

Australia’s central bank has lifted its benchmark interest rate for a 12th consecutive time to 4.1% and warned further rises could follow

The Independent UK

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The New Daily

‘Difficult to understand’: Mortgage bills to rise again as RBA hikes interest rates in June

Australian households will be forced to endure a 12th hike in interest rates after the Reserve Bank moved to push up mortgage bills in June.

The New Daily

Interest rates hiked in June: RBA moves to 4.1 per cent amid fears about inflation plan

The Reserve Bank raised interest rates another 0.25 percentage points in June and has signaled more could be on the horizon.

The Guardian - AU

RBA interest rates: Reserve Bank increases cash rate by 25 basis points in attempt to quash inflation

RBA decision to raise Australia’s cash rate by another 25 basis points brings the official rate to 4.1%, its highest level in 11 years

ABC News

Official interest rates rise above 4 per cent as RBA hikes again

Interest rates climb above 4 per cent for the first time in more than 11 years, as the Reserve Bank moves aggressively to clamp down on inflation.

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Bangkok Post

Headline inflation lowest in 21 months

Thailand's headline inflation rate dropped to its lowest in 21 months in May due to falling energy and food prices and a high base in 2022, the Commerce Ministry said on Tuesday.

Liverpool Echo

Council's budget squeezed by inflation adding £5m to costs

The council's full expenditure for last year has been revealed

The New Daily

No signs of recovery among despondent consumers

Consumer confidence has not budged from its weak position, although mortgage holders have regained some optimism ahead of the next cash rate decision.

The Independent UK

Bank holidays fail to boost sales growth amid ongoing inflation worries

Total UK retail sales increased by 3.9% last month, below the three-month average growth of 4.7%, according to the BRC-KPMG Retail Sales Monitor.

ABC News

Angus Taylor says Australia's core inflation is higher than all the countries in the G7. Is that correct?

Shadow Treasurer Angus Taylor says Australia has higher core inflation than all of the countries in the G7. Is that correct? RMIT ABC Fact Check investigates.

Kiplinger

Inflation Causes Drivers to Switch Car Insurance Carriers

In a recent survey, 57% of drivers claimed their car insurance rate went up in the last 12 months, causing them to switch insurance carriers.

Barchart

Stocks Slip in Afternoon Trade

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.28%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.58%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.2%. After a morning rally, markets have moved into the...

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