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The Latest Breaking News from Inflation

Restaurants’ post-COVID boom is winding down

After celebrating the end of COVID restrictions with an epic restaurant tab, diners are now hitting the brakes on eating out.

Tribune News Service

‘We need help now’: UK hospitality warns of ‘tidal wave’ of closures as crises loom

After lockdown closures, supply and staffing issues, inflation and high energy bills could be fatal for many businesses

The Guardian - UK

3 Stocks You Shouldn't Waste Your Money on in 2022

Raging inflation and the Fed’s hawkish stance to tame it have kept the stock market under tremendous pressure. Amid the growing economic concerns, fundamentally weak stocks Marvell (MRVL), Faraday Future Intelligent (FFIE), and Oblong (OBLG) could be best avoided. Read on….

StockNews.com

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Institute for Fiscal Studies warns against cutting spending on sixth forms

Thinktank says any reduction would ‘sit uncomfortably’ with pledge to focus on skills and economic growth

The Guardian - UK

Royal Mail has truly earned my stamp of disapproval

God knows, I don’t do many clever economy measures, but one was back in April when the price of first-class stamps went up by all of 10p to 95p, and I bought about five books of them, thinking that I was saving, ooh, six quid. I know, a pound for…

Evening Standard

Treasurer Jim Chalmers expected to reveal a $40 billion improvement to the federal budget bottom line

Treasurer Jim Chalmers says his first budget will show a multi-billion-dollar improvement on forecasts from the previous government's budget.

ABC News

Rishi Sunak now faces an economic battle he may not get credit for winning

Rishi Sunak is set to be our new Prime Minister and Tory dreams and fantasies may finally be coming to an end. For political parties, such bubble-bursting can be painful. Nigel Lawson’s boom in the late Eighties was followed by a prolonged bust. The “no more boom and bust” promises…

Evening Standard

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Is your fixed broadband bill about to go up? How to protect yourself from inflation-busting rate hikes

Inflation has caused the sharpest rise in food prices in the UK in 40 years, the latest official figures show. But it’s not just food costs that are soaring – or energy prices, for that matter. Consumer price inflation could also impact bills for services like internet and mobile phones.

The Conversation

Bernie: Dems must go on attack

"Incredible level of corporate greed" is driving inflation, says Sanders; Democrats must push "pro-worker" policies

Salon

DWP: 10 benefits could face 'permanent cut' - including Universal Credit and ESA

The Government has not committed to raising benefits in line with inflation

Nottingham Post

As inflation soars, it’s time to make your money work harder

After a decade in the doldrums, savings rates are finally on the up. But where best to put your cash and can it really come close to inflation?

The Guardian - UK

Migrants feel inflation's squeeze twice — at home and abroad

In nearly every corner of the globe, people are spending more on food and fuel, rent and transportation

The Independent UK

ECB again Eyes Jumbo Rate Hike to 'Tame Inflation Beast'

The European Central Bank is expected to set aside recession worries and deliver another jumbo interest rate hike this week to cool inflation, as Russia's war on Ukraine sends energy prices soaring. Inflation in the 19-nation eurozone climbed to an all-time high of nearly 10 percent in September, five times…

Asharq Al-Awsat

Australian budget 2022 preview: what we know so far

Treasurer Jim Chalmers is promising a ‘solid, simple and sensible’ federal budget for the times. Here’s a summary of what has already been flagged on spending, savings and tax

The Guardian - AU

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The New Daily

Petrol price spike looms for motorists, RBA comments on inflation

Motorists have a small window to fill up on cheaper petrol as many cities hit their first new fuel cycle after the fuel tax cut expired.

Pedestrian.tv

Previously-Secret Documents Reveal The Reserve Bank Reckons House Prices Are Set To Drop By 20%

The Reserve Bank of Australia predicts house prices could fall by 20% by the end of 2024, which would be the biggest drop since the 1980s.

Tribune News Service

Pelosi says she has no regrets on COVID aid that GOP links to inflation

WASHINGTON — House Speaker Nancy Pelosi said she doesn’t regret pandemic aid passed by Democrats to boost the U.S. economy and advised her party’s midterm candidates to focus on the Biden administration’s efforts to curb inflation.

AAP

Petrol price spike looms for motorists

Some retailers are already charging more than $2 a litre as cities move into the first new fuel cycle since petrol tax relief expired.

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Reuters

Thousands protest against PM Orban's government, "runaway inflation"

Thousands of Hungarians including teachers and students marched through Budapest on Sunday to protest against the government, demanding higher wages for teachers and a curb on surging inflation that is eroding incomes.

The Guardian - AU

Labor’s ‘rorts and waste’ audit to deliver $10bn in savings to federal budget

Government will also shuffle funds and axe Coalition projects to free up $11bn for their own policy priorities

Daily Mirror

Penny Mordaunt refuses to reveal basic things she'll do as PM in cringey TV interview

The third-placed candidate for Prime Minister - who seems unlikely to get 100 nominations by the 2pm Monday deadline - couldn't even say if she'd still raise benefits with inflation

Tribune News Service

Economy moves to front for Democrats trying to hold on in key midterm races

From hardscrabble mining communities to affluent New Jersey suburbs, GOP attacks on the economy are forcing Democratic House candidates in must-win Northeast districts to confront an issue that has bedeviled them.

The Conversation

Australia's growth downgraded and inflation drives massive rise in cost of pensions and payments in budget

Tuesday’s budget will point to a slowing Australian economy, with growth forecasts cut, and contain more than $21 billion of savings and decisions to redirect spending.

Evening Standard

Former Bank of England chief warns of ‘higher taxes for the average person’

Lord King of Lothbury outlined the challenge for the next prime minister to confront high inflation.

The Guardian - US

Democrats need to address economic fears now – or risk losing their majorities

Until Democrats tell it like it is, their electoral majorities will continue to be fragile

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