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The Latest Breaking News from Inflation

Twitter suspends accounts of journalists who cover Elon Musk

Journalists from The New York Times, The Washington Post and CNN are among those whose Twitter accounts have been frozen over accusations from the social network of them sharing real-time location data, including that of new owner Elon Musk. Also in the show: the EU prepares its response to what…

France 24

Over 15,000 in Brussels demand protection from high prices

Over 15,000 demonstrators have braved the bitter cold in Brussels to call for more measures to shield them from high energy prices and better pay to counter runaway inflation

The Independent UK

Why EU leaders are upset over Biden's Inflation Reduction Act

EU leaders are looking for ways to counter aspects of the US Inflation Reduction Act (IRA) that they fear will unfairly discriminate against European firms. With the IRA giving generous subsidies and priority access to American businesses, the EU is now considering a subsidy program of its own.

France 24

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Bank of Ireland hikes income growth expectations amid soaring inflation

Ireland's largest bank by assets employs thousands of people in its UK offices in Bristol, Belfast and London

Birmingham Post

Why Hot Wheels are one of the most inflation-proof toys in American history

Inflation, the curse of our pocketbooks and the Federal Reserve, has hit almost every good in the U.S. But the price of a beloved toy has managed to hover around $1 — for more than 50 years.

WEKU

Dole queue lengthens but Northern Ireland job market still healthy

The dole queue is around one fifth higher than March 2020 at 36,200 people

Birmingham Post

Inflation dampens otherwise bright small biz holiday season

In some ways, the bustling holiday shopping season feels like a return to pre-pandemic days: More people are out and about, shopping in groups and buying for themselves as well as gifts

The Independent UK

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Home prices, rents skyrocket in Turkey amid economic turmoil

Economic turmoil driven by inflation of 85% has plunged Turkey into one of its worst property crises

The Independent UK

Inflation, tax and hiring challenges causing concern for South West firms

Businesses across the region have faced a 'very tough year', according to chamber of commerce Business West

Birmingham Post

Asian shares decline after retreats on Wall Street, Europe

Asian shares have followed Wall Street and Europe lower, with markets jittery over the risk that the Federal Reserve and other central banks may end up bringing on recessions to get inflation under control

The Independent UK

US recession a growing fear as Fed plans to keep rates high

After scaling 40-year highs, inflation in the United States has been slowly easing since summer

The Independent UK

Labour wins Stretford and Urmston by-election in ANOTHER defeat for Rishi Sunak

New MP Andrew Western, the Labour leader of Trafford Council, was the winner in a blow to Rishi Sunak, who is suffering from pressure over strikes, the rising cost-of-living and inflation

Daily Mirror

NAB forecasts rocky road to slow growth

Higher inflation, rising interest rates and slower growth are starting to impact businesses and consumers, NAB says.

AAP

NAB sees slower growth in 2023

NAB says higher inflation, rising interest rates and slower growth are starting to impact both businesses and consumers.

AAP

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Fortune

Billionaire investor Bill Ackman says the Fed is ‘no longer credible’ on a key metric—and change is probably coming

Does targeting 2% inflation make sense in our current economic environment? Not if you ask Bill Ackman.

StockNews.com

3 Penny Stocks Under $4 to Buy Now

Even though easing inflation is raising consumer optimism, the Fed expects rate hikes to continue into next year. Amid this backdrop, investors could consider buying quality penny stocks trivago (TRVG), Yiren Digital (YRD), and Good Times Restaurants (GTIM), which are trading under $4, instead of the pricey names. Read on….

Fortune

Morgan Stanley’s chief investment officer says inflation has peaked, but next year will still be rough for stocks

Stock prices could tumble in 2023 because of poor earnings, Morgan Stanley's Mike Wilson said.

The Independent UK

Benefits uplift in Scotland welcomed but campaigners say more can be done

Deputy First Minister John Swinney set out the 2023/24 budget in Holyrood.

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news in one place.

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The Independent UK

Scotland in recession and household incomes set to decline – fiscal commission

The country’s official forecasters said the economy was already in a recession and may not return to pre-recession levels until 2025.

Wales Online

Why interest rates have gone up - and what impact it will have on households

Interest rates are at their highest point in 14 years after the ninth increase in a row by the Bank of England

Daily Mirror

How 'independent' is the NHS pay review body? We look at the facts

Nurses' union leaders have accused the Government of hiding behind the body, which made its recommendation in July - before energy bills rocketed and inflation hit its peak

The Independent UK

High inflation and efforts to tame it defined 2022 economy

At times, 2022 felt like the 1970s or early ’80s

Glasgow Live

Major East Renfrewshire leisure centre and theatre plan delayed due to costs

Councillors have made the decision due to rising inflation and volatile interest rates, but there are concerns the move could put the project at risk of further price increases.

The Independent UK

Working at 76: Inflation forces hard choice for older adults

Higher prices throughout much of 2022 have taken their financial toll on older adults in particular

WEKU

Retail spending dips as holiday sales bite into inflation

Retail sales declined 0.6% in November compared to October, the biggest decline in almost a year. For once, declining prices seem to be part of the story.

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Sristi Suman Jayaswal

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