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The Latest Breaking News from Inflation

Leaked EU plan reveals response to US and Chinese green subsidies

Draft plan to loosen state aid rules follows Joe Biden’s Inflation Reduction Act and Chinese subsidies

The Guardian - UK

Indian economy poised to do better, inflation to be well-behaved next fiscal: CEA Anantha Nageswaran

NEW DELHI: Indian economy is poised to do better and is expected to grow 6.5-7 per cent in the remainder of the decade, chief economic advisor (CEA) V Anantha Nageswaran said on Tuesday.

The Times of India

UK supermarket price inflation hits record high, adding £788 to annual bills

Milk, eggs and dog food were grocery items with fastest price rises, figures from Kantar show

The Guardian - UK

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Eight key money changes in February - Universal Credit, passports, interest rates and more

Here are some of the key dates and changes next month including from the DWP - and how they could affect you

Nottingham Post

Europe scrapes out economic growth by dodging gas disaster

Europe’s economy has scraped out meager gains at the end of last year as galloping inflation fed by high energy prices and Russia’s invasion of Ukraine deterred people from spending in shops and restaurants

The Independent UK

Demand for gold soars on “colossal” central bank buying

The price of gold is soaring as demand for the precious metal from both central banks and small investors rockets.

Evening Standard

'I repeated an Asda Just Essentials shop a year later - and these items were pricier'

Shopping Writer Rachel Williams repeated her big Asda Just Essentials shop from August 2022 - and noticed a few items had increased in price.

Daily Record

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Economy to grow by 7% in FY23; current account deficit may widen: Highlights of Economic Survey 2023

Chief economic advisor (CEA) V Anantha Nageswaran on Tuesday unveiled the Economic Survey 2022-23 and said that the Indian economy is poised to do better on the back of reforms undertaken by the government.

The Times of India

'It really disturbs me to say this, but I think I agree with Larry.' Paul Krugman sides with frenemy Larry Summers on inflation fight.

Both economists think the U.S. Federal Reserve is just as likely to overestimate inflation as underestimate it.

Fortune

Supermarket shoppers face £788 increase in food bills as grocery inflation hits 16.7%

New analysis by Kantar shows grocery inflation has hit 16.7% - the highest since their records began in 2008 - as shoppers continue to feel the squeeze of the cost of living crisis

Daily Mirror

Annual food shop bills soar by £788 as grocery price inflation hits record 16.7%

Latest figures come amid soaring bills as cost of living crisis deepens

The Independent UK

Family food bills up by £800 a year

Record 16% surge in shopping prices, Kantar survey shows

Evening Standard

Nirmala Sitharaman tables Economic Survey 2022-23 in Lok Sabha: Highlights

NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday presented the Economic Survey in Parliament ahead of the Union Budget to be presented on Wednesday.

The Times of India

AG Barr reports 17% revenue rise, but warns over DRS impact

Recently-acquired drinks brands add to revenue growth, masking cost pressures from rising inflation

Insider UK

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The Independent UK

Asian shares fall in muted trading ahead of Fed meeting

Asian shares are mostly lower in muted trading as investors await decisions on interest rates and on earnings reports from around the world

Asharq Al-Awsat

IMF Upgrades Outlook for the Global Economy in 2023

The outlook for the global economy is growing slightly brighter as China eases its zero-COVID policies and the world shows surprising resilience in the face of high inflation, elevated interest rates and Russia's ongoing war against Ukraine. That's the view of the International Monetary Fund, which now expects the world…

The Guardian - UK

Tuesday briefing: What needs to change to end homelessness

In today’s newsletter: Soaring inflation pushes more people to the streets as shelters struggle and budgets are slashed. How far are we from ending the crisis – and is anywhere doing it right?

Axios

IMF says recession "not in our baseline" as it raises global growth forecasts

"2023 could be the year of turning points, with growth bottoming out and inflation decreasing," IMF chief economist says.

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news in one place.

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The Independent UK

IMF warns UK economy is set for sharp contraction in ‘weakest performance among G7’

IMF predicts UK economy will contract by 0.6% in 2023 as Britain looks set to suffer more than most from soaring inflation

Wales Online

UK tipped to be weakest major economy in world as cost-of-living crisis hits households hard

The IMF has predicted UK output to shrink by 0.6% this year

The Independent UK

UK economy to shrink more than Russia, predicts IMF

The forecast leaves the UK economy languishing behind sanctions-hit Russia

The Independent UK

IMF upgrades its outlook for the global economy in 2023

The Guardian - UK

Britain the only G7 economy forecast to shrink in 2023

IMF says UK economy is likely to contract 0.6% as rising interest rates and higher taxes take toll

Daily Mirror

UK economy to go BACKWARDS in 2023 with worst performance of all major nations

The UK is set to see its economy contract 0.6% this year according to the International Monetary Fund which will be the worst performance of all the advanced nations

AAP

Global growth outlook slightly healthier, says IMF

The outlook for the global economy has improved marginally, with inflation likely past its peak and trending down over 2023 and 2024.

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