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The Latest Breaking News from Inflation

EU expects recession to hit Europe as inflation hangs on

The European Union’s executive commission slashed its forecast for economic growth next year

The Independent UK

Migrant workers essential to key sectors of Italian economy

Our correspondents report from Italy, where migrant workers are essential to several key sectors of the economy. This comes amid a rift between Paris and the far-right government in Rome, after France allowed a migrant rescue ship to dock following a refusal by Italy. But first, we take a look…

France 24

Over 100,000 children not getting free school meals due to inflation

Government accused of ‘snatching school lunches away by stealth’

The Independent UK

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Jeremy Hunt plots new age of austerity with sweeping cuts to police and buses

Rishi Sunak and Jeremy Hunt are meeting again today as they look at slashing public spending growth by up to £25bn a year from 2025 - while county councils plan to slash bus routes and libraries and turn off street lights at night

Daily Mirror

Bank of England governor praises companies raising pay for lowest paid

On a visit to the North of England, Andrew Bailey said that efforts to bring inflation under control were likely to last another 18 months

Birmingham Post

Editorial: Poison pills: Trump, Roe and the Red Wave that wasn’t

Many a pundit predicted that in the first elections since the overturning of Roe v. Wade this summer, crime and inflation would overshadow abortion rights in turning people out to the polls. Tuesday night, Americans around the country proved them wrong.

Tribune News Service

Commentary: Slaying the inflation dragon

Elections are rarely about only one issue, but there’s no question that economic worries motivated voters this year. Polls, both before the election and exit polling, showed that inflation was their No. 1 concern.

Tribune News Service

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Financial expert predicts State Pension Triple Lock pledge will be scrapped at Autumn Statement this week

Speculation is mounting on whether State Pensions and benefits will rise in line with 10% inflation next April.

Daily Record

Sudan Raises Prices of Gasoline, Diesel

Sudan's energy ministry raised the price for car petrol to 620 Sudanese pounds ($1.07) per liter from 522 pounds per liter, it said in a statement on Thursday. It raised the price for diesel to 720 pounds per liter from 672 pounds, it said. The Ministry said the decision came…

Asharq Al-Awsat

Inflation will erode funding for early years care, finds IFS

Report foresees funding for childcare places in England falling by 8% over next three years

The Guardian - UK

FTX files for US bankruptcy protection, CEO Bankman-Fried resigns – as it happened

Cryptocurrency exchange FTX starts bankruptcy proceedings in US and Sam Bankman-Fried is resigning as chief executive officer

The Guardian - UK

Asian stocks surge after lower US inflation eases rate fears

Asian stock markets have surged after U.S. inflation eased by more than expected, spurring hopes the Federal Reserve might scale down plans for more interest rate hikes

The Independent UK

Alibaba Jumps 7%, Nio Surges 13%: Hang Seng Breaches 17,000-mark For 1st Time Since Mid-October

Hong Kong stocks rose on Friday, with the benchmark Hang Seng opening over 5% higher, as softer-than-expected inflation in the U.S. sparked optimism among investors and traders that price rises may have peaked out.

Benzinga

Dogecoin Soars, Bitcoin, Ethereum Recover Some Ground After Inflation Data: Analyst Says 'FTX Contagion Risks Remain Elevated'

Major coins regained buoyancy late on Thursday, after crashing a day prior, in wake of soft economic data released. The global cryptocurrency market cap shot up 8.85% to $880 billion at 8:41 p.m. EST.

Benzinga

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Tribune News Service

Homelessness among older people is on the rise, driven by inflation and the housing crunch

COLUMBIA FALLS, Mont. — On a recent rainy afternoon in this small town just outside Glacier National Park, Lisa Beaty and Kim Hilton were preparing to sell most of their belongings before moving out of their three-bedroom, two-bathroom rental home.

Daily Mirror

Stealth tax rises Rishi Sunak is plotting next week would raid £35bn a year from Brits

Experts the IFS said extending a freeze on Income Tax and National Insurance thresholds to 2028 would be a huge windfall - and leave families with 'lower living standards'

Fortune

Credit card interest rates soar to the highest they’ve been in 30 years

Driven by continual Federal Reserve rate increases, credit card APRs have hit 19.04%.

France 24

Is the US economy headed for a hard landing?

A strong performance by Joe Biden's Democratic Party defied predictions of a Republican "red wave" in the US midterm elections, despite consumers feeling the pinch of high inflation. Americans have seen wages and benefits increase, but the standard of living has not. Delano D'Souza asks Abigail Watt, US Research Economist…

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WEKU

Stock market surges after inflation report shows the pain of high prices may ease

Stocks experienced their biggest rally in two years after a report that inflation is currently running at 7.7%.

StockNews.com

3 Stocks to Buy Now for a Sound Investment Portfolio

October inflation report came in lower than estimates, indicating cooling inflationary pressures. Moreover, the market could soon be up for a significant rally as per historical trends. Given the backdrop, it could be wise to buy stocks of fundamentally sound companies, Coca-Cola (KO), Biogen (BIIB), and Sisecam Resources (SIRE), to…

Benzinga

Dow Jumps Over 700 Points; US Inflation Rate Falls In October

U.S. stocks traded sharply higher this morning , following the release of inflation data on Thursday.

Reason

Impersonators Are Already Running Amok Under New Twitter Rules

Plus: "you can't spoil what's already rotten," inflation stayed high in October, Election 2022 takeaways, and more...

Bangkok Post

US inflation shows signs of cooling

WASHINGTON: US inflation cooled in October by more than forecast, offering hope that the fastest price increases in decades are ebbing and giving Federal Reserve officials a chance to ease up on steep interest-rate increases.

Tribune News Service

US inflation slows more than forecast, gives Fed downshift room

U.S. inflation cooled in October by more than forecast, offering hope that the fastest price increases in decades are ebbing and giving Federal Reserve officials room to slow down their steep interest-rate hikes.

Evening Standard

US inflation rises by less than expected 7.7%

Cooling inflation raises hopes that interest rate rises may slow

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