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The Latest Breaking News from Inflation

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

The Guardian - US

Former allies, Patty Murray and Tiffany Smiley face off for US Senate

SEATTLE — Sen. Patty Murray was locked in her office in the U.S. Capitol on Jan. 6 when she said she decided to run for a sixth term. If she wins she would be among the longest serving senators in U.S. history.

Tribune News Service

Australia will join Biden’s global pledge to cut methane emissions by 30% by 2030, Albanese confirms

Funding of more than $3bn will support agricultural methane reduction, clean tech initiatives and the commercialisation of seaweed feed supplement

The Guardian - AU

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Inflation, budget on watchlist this week

The latest consumer price index figures are set to be released after the federal budget is handed down on Tuesday.

AAP

Political toss-up: Luria, Kiggans are ‘deadlocked,’ poll finds

NORFOLK, Va. — A little more than two weeks before Election Day, one of Virginia’s most closely watched races is in a deadlock.

Tribune News Service

Treasurer Jim Chalmers reveals workers' pay will go backwards until 2024-25 ahead of federal budget announcement

Treasurer Jim Chalmers reveals workers' pay will effectively go backwards until 2024-25.

ABC News

Pelosi says ‘kitchen table’ issues should be focus of Democrats

House Speaker Nancy Pelosi advised Democratic candidates to focus on “kitchen table” issues and reducing inflation as her party heads into the final two weeks before the Nov. 8 midterm elections.

Tribune News Service

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Schools crippled by cost of living crisis as teachers unscrewing light bulbs to cut bills

Schools in England face a cash catastrophe driven by surging energy bills, rising inflation and unfunded pay deals. The Sunday People can reveal nine out of 10 will have run out of money by the next school year

Daily Mirror

Fed lines up another big hike while mulling eventual downshift

Federal Reserve officials are preparing to roll out another supersized interest-rate increase in early November, when they will also likely debate tactics for completing the most aggressive tightening cycle in four decades.

Tribune News Service

Gloomy backdrop for first Albanese budget

The Labor government is handing down its first budget at a time of economic turbulence. Here's why that matters.

AAP

Biden juggling long list of issues to please Dem coalition

With Election Day fast approaching, President Joe Biden is hoping to counter Republican momentum and he's trying to be everything to everyone

The Independent UK

Ilhan Omar on the critical issues of the midterm elections: ‘People understand what’s at stake’

From abortion rights to climate action, the Minnesota congresswoman outlines the work ahead for Democrats

The Guardian - US

UK economic outlook downgraded to 'negative' amid chaos after Liz Truss resignation

The ratings agency Moody's says the downturn is due to the political instability and high inflation in the aftermath of PM Liz Truss' resignation in a report published last night

Daily Mirror

Inflation protests across Europe threaten political turmoil

Across Europe, soaring inflation is behind a wave of protests and strikes that underscores growing discontent with the spiraling cost of living and threatens to unleash political turmoil

The Independent UK

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The Philadelphia Inquirer

Two polls show Republicans pulling ahead nationwide. What that could mean for Pa.’s top races.

PHILADELPHIA — National political trends are shifting in Republicans’ favor as inflation assumes an even more dominant position in voters’ minds, according to two recent polls — a potentially significant development for key Pennsylvania races that could be decided by just a few percentage points.

Bangkok Post

Equities move lower but SET outlook still good

RECAP: Asian and European stocks moved lower yesterday, as US Treasury yields held at the highest level since the global financial crisis of 2008 and investors weighed risks to Chinese markets.

Bangkok Post

Domestic tourist spending still tepid

Local tourism this year has been marked by a higher volume of short trips, with inflation and flooding affecting average spending per person, according to the Tourism Authority of Thailand (TAT).

StockNews.com

Fade the Friday Rally

Bull markets do not go straight up. There are plenty of down days, weeks and even months for the S&P 500 (SPY) added into the mix. Conversely bear markets do not go straight down. In fact, they have some pretty sizeable rallies that come along the way often clouding the…

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The Guardian - AU

Federal budget: no tax break for low- and middle-income workers as economic outlook worsens

Inflation set to peak higher than expected so workers earning less than $126,000 will not get a tax break, worth up to $1,500, beyond 2022

Axios

IRS increases 401(k), IRA contribution limits for inflation

The IRS is raising contribution limits to retirement plans, including 401(k) and IRAs, by a record 9.8% for 2023.

The Independent UK

LOCALIZE IT: How to tell inflation story for your audiences

EDITORS/NEWS DIRECTORS:

AAP

Inflation higher for longer: Treasury

Inflation is going to hang around for longer due to persistently high energy prices and floods in southeast Australia, Treasury forecasts say.

StockNews.com

Despite fears of another major interest rate hike by the Fed in response to the stubborn inflation data for September, stocks such as Microsoft (MSFT) and Biogen (BIIB) have shown remarkable stability. Hence, it may be the right time to invest in them for market-beating returns. Keep reading.

StockNews.com

These 2 Stocks Are Proven Long-Term Winners

Inflation is far from the Fed’s target, which might induce it to deliver more rate hikes in the coming months, increasing the likelihood of a recession. Amid this, we think investors should consider buying fundamentally sound stocks, Coca-Cola (KO) and United Parcel Services (UPS), which are proven long-term winners and…

Evening Standard

Tesco hikes price of meal deal due to rising costs amid soaring inflation

The meal deal – which comprises a sandwich, snack and drink – had sat at £3 for the past 10 years

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