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The Latest Breaking News from Inflation

Prices of supermarket basics soar by almost 30% - see full list of rises

The Which? inflation tracker highlighted a huge increase in prices at Aldi, Asda, Lidl, Ocado, Sainsbury's, Tesco and Waitrose

Chronicle Live

China reopening could lead to a global inflationary surge, Norway wealth fund executive warns

China's reopening has come as welcome news for markets, but it could also cause a global inflationary surge.

Fortune

ASX rallies despite Wall Street dropping on inflation and tech lay-offs

The Australian share market traded up on Thursday as jobs data was released showing the unemployment rate was steady at 3.5 per cent. Look back on how the day played out on the ABC News markets blog.

ABC News

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Even Larry Summers thinks we might avoid a recession after months of gloomy predictions: 'Soft landings are a triumph of hope over experience, but sometimes hope does triumph'

Former Treasury Secretary Larry Summers said in September that there was a 75% chance of a U.S. recession. But after the latest inflation data, he says he's a little more hopeful.

Fortune

Things may finally be looking up for middle class America

Persistent inflation has hit the middle class, minorities, and rural communities the hardest, according to new data from the NY Fed. But things are easing.

Fortune

'I tracked the supermarket food prices for three months - some items skyrocketed'

For the past three months, Mirror writer Danielle Kate Wroe has been tracking the cost of her weekly food shop to find out how prices have changed - some have risen over 30%

Daily Mirror

2 Tasty Fast Food Stocks to Buy Before a Potential Recession

As long as inflation stays above the Fed’s 2% target rate, a series of rate hikes could potentially tip the economy into a recession. However, fast-food stocks make safe investments due to their steady demand during times of economic distress. Hence, fundamentally sound fast food stocks, McDonald's (MCD) and Chipotle…

StockNews.com

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Fed's Mester: Rate hikes have begun to quell US inflation

Growing evidence that high inflation is finally easing shows that the Federal Reserve’s sharp interest rate hikes are working as intended, says Loretta Mester, a key Fed policymaker

The Independent UK

2 "Strong Buy" Stocks Flying Under the Radar Right Now

Cooling inflation has raised signals of a slowdown in the interest rate hikes. However, given the widespread recessionary concerns, the stock market could remain volatile for some time. Therefore, it could be wise to scoop up fundamentally strong stocks BHP Group Limited (BHP) and Centene Corporation (CNC), which are flying…

StockNews.com

Millions hit by broadband and mobile price hikes of up to 17.3% - how to cut costs

Under current rules, telecom companies are allowed to increase prices mid-contract in line with inflation, plus roughly 4% extra on top of this - here is everything you need to know

Daily Mirror

Food prices hit 45-year high despite inflation easing in the UK

The rate of inflation fell in December, mostly triggered by a drop in fuel prices, but food and drink price inflation soared again

Chronicle Live

UK inflation: What has caused the rate to fall to 3.9%?

Shoppers will be cheered by the news that inflation is closer to its target of 2%

Evening Standard

UK inflation: how everyday items and services shot up in price

Price rises of many goods outstripped December’s 10.5% inflation rate with bread up 20.5%, electricity 65.4% and hotels 18.1%

The Guardian - UK

Buying These 2 Stocks Would Be a Genius Move Right Now

Amid easing inflation and a strong labor market, investor sentiments have been improving, raising the odds of a ‘soft landing.’ Therefore, buying quality stocks Cisco Systems (CSCO) and Albertsons Companies (ACI) might be a genius move right now. Read on….

StockNews.com

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Reuters

Croatia clashes with traders over post-euro 'wild' price hikes

The Croatian government and businesses are at loggerheads as traders dismiss measures aimed at battling price hikes after the introduction of the euro by blaming inflation.

Evening Standard

Ministers hope Chancellor Jeremy Hunt will unveil tax cuts in the autumn before 2024 election

Ministers hope Chancellor Jeremy Hunt can announce tax cuts in the autumn ahead of a General Election a year later.

StockNews.com

3 Safe High-Dividend Stocks to Buy Right Now

While inflation pressures seem to be cooling, the Fed is expected to continue with its rate hikes, raising the chances of a recession this year. Hence, high-dividend stocks AbbVie (ABBV), Gilead Sciences (GILD), and Marine Products (MPX) might be solid buys for steady income amid current uncertainties. Keep reading.

StockNews.com

1 Semiconductor Stock You Should Buy Now

Despite facing inflationary headwinds and demand softness lately, semiconductor foundry major Taiwan Semiconductor Manufacturing Company (TSM) remains well-positioned to gain from the increasing demand for high-performance chips. Thus, we think it could be wise to buy the stock now. Read more….

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The Guardian - AU

The Reserve Bank of Australia should hold off on raising rates again next month. Here’s why

Allowing time for the impact to flow through would be sensible. Inflation is falling, it’s just not yet visible in official figures

The Independent UK

December retail sales fall 1.1% after slipping in November

Americans cut back on spending in December, the second consecutive month they’ve done so, underscoring how inflation and the rising cost of using credit cards slowed consumer activity over the crucial holiday shopping season

Daily Record

How inflation dip to 10.5% will impact your household budget, saving and spending next month

Pensions, mortgages and food shopping will also be affected by the December inflation figure.

The Independent UK

Wholesale inflation in US slowed further in December to 6.2%

Wholesale prices in the United States rose 6.2% in December from a year earlier, a sixth straight monthly slowdown and a hopeful sign that inflation pressures will continue to cool

Tribune News Service

States put grocery taxes on ice

As inflation soared in the past year, families in some states suffered a double whammy — paying food sales taxes on top of higher-priced groceries.

StockNews.com

These Are the 3 Best Stocks on Wall Street to Buy Now

Although inflation moderated for the sixth consecutive month in December, a recession is still likely as the Fed is expected to keep raising rates this year. Amid an uncertain economic backdrop, fundamentally strong and popular stocks on Wall Street, Microsoft (MSFT), Pfizer (PFE), and AT&T (T), could make ideal additions…

Manchester Evening News

Ten things that could cost more this year - from passports and council tax to beer and petrol

The cost of living crisis is being driven by soaring prices on a variety of goods

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