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The Latest Breaking News from Inflation

IRS ups standard deductions, tax brackets due to inflation

Taxpayers will get fatter standard deductions for 2023 and all seven federal income tax bracket levels will be revised upward as the government allows people to shield more of their money from taxation because of persistently high inflation

The Independent UK

What is the triple lock and what impact does it have on pensions?

PRIME Minister Liz Truss has said she and her Chancellor remain “completely committed” to the triple lock on pensions.

The National (Scotland)

Jeremy Hunt ignored call from Liz Truss begging for help because he thought it was prank

The top Tory was on holiday with his wife and children in Belgium - and is thought to have laughed out loud when he got a text saying ‘Jeremy, it’s Liz Truss , please call urgently’

Daily Mirror

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States with poor climate policy ‘overlap’ with those seeking to limit rights, Kamala Harris says

SAN FRANCISCO — After a summer of national and global climate devastation, Vice President Kamala Harris made a stop at the Cowell Theater on Tuesday to tout Democrats’ progress on climate policy just weeks before the midterm elections.

Los Angeles Times

Campaigners urge Government to raise benefits in line with inflation now to protect poorest families

There are fears that many face a grim winter unless action is taken before next April

Wales Online

Climber Who Competed Without Her Hijab Apologizes as Protests Continue To Rock Iran

Plus: Bite mark analysis is a sham, tax code adjusted for inflation, and more...

Reason

Is inflation affecting travel points and miles?

Inflation has made the cash prices of flights and hotel stays skyrocket this year, but it’s having a surprising effect on a different currency — your airline miles and hotel points

The Independent UK

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3 Stocks Delivering Strong Results in 2022 to Buy Now

The central bank might deliver another big rate hike next month to tame the persistently high inflation. However, the corporate earnings season has been gearing up investors’ sentiments. We believe fundamentally sound stocks Bristol-Myers Squibb (BMY), Energy Transfer (ET), and Kroger (KR), which have consistently reported strong financials this year,…

StockNews.com

ASOS planning to open shop on the high street to sell clothes at a discount

Online-only clothes retailer ASOS could open a pop-up store to sell out-of-season clothes at a steep discount, as the firm announced big losses due to the cost of living crisis

Daily Mirror

How soaring inflation will affect your household budget and spending this winter

Inflation surged back to 40-year high of 10.1% in September after food prices soared.

Daily Record

Amount your State Pension could be cut by in April by Liz Truss despite triple lock rise

The pressure is on for Prime Minister Liz Truss to ensure that pensioners are not worse off

Liverpool Echo

Bosses in a pickle at Branston as workers strike outside Middleton HQ

Staff say they are being offered a 'real terms pay cut'

Manchester Evening News

UK motorists count cost amid rise in price of car parts, repairs and servicing

Three drivers and a garage owner explain how rising costs have affected prices

The Guardian - UK

Rising Inflation Keeps Pushing This EV Stock Further off the Road

Electric Vehicle (EV) maker Lucid Group (LCID) failed to translate its top-line growth to bottom-line improvement in the second quarter of fiscal 2022. While the company mentioned strong demand for its offerings, chip shortage, material price inflation, and supply chain challenges might weigh on its growth prospects. Shares of LCID…

StockNews.com

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Evening Standard

The Standard View: The Chancellor’s priority must be to get inflation under control

Political crisis and economic hardship often go hand in hand. Today, as Westminster watchers turn their attention to Prime Minister’s Questions, millions of families across the country are counting the cost of higher prices.

Daily Record

Liz Truss 'committed' to pensions triple lock just day after No10 indicated it could be ditched

The Prime Minister told MPs at PMQs earlier today that she and Chancellor Jeremy Hunt will be increasing pensions in line with inflation.

Daily Record

Full State Pension payments could rise to £203 each week from next April under Triple Lock rule

Prime Minister Liz Truss confirmed the UK Government's commitment to the Triple Lock rule during PMQs on Wednesday.

The Independent UK

Liz Truss contradicts Chancellor by announcing pensions triple lock will stay

But prime minister refuses to make similar commitment to avoid real-terms cuts to benefits

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Manchester Evening News

How rising inflation could impact pensions as PM says she is 'completely committed' to triple lock

Inflation has soared back to double digits which will result in economic consequences

Daily Record

Good Morning Britain's Susanna Reid left embarrassed after phone blunder live on air

Addressing viewers, Susanna continued discussing the news that inflation has now risen to 10.1% but the broadcaster was interrupted by her phone.

Daily Mirror

House prices soar AGAIN to nearly £300,000 - but experts say a fall is coming

The typical UK property costs a staggering 13.6% more than it did a year ago, but experts say a house price fall is still coming next year with predictions of a 10-15% drop

Evening Standard

Food price surge brings more cost-of-living pain

Inflation up with interest rates next

The Independent UK

Raise benefits in line with inflation before next April, Government told

Campaigners have warned leaders not to ‘abandon children when they need support the most’, with figures showing inflation reached 10.1% in September.

Nottingham Post

7 DWP money saving discounts and grants for Universal Credit claimants as cost of living hikes

Inflation has risen to 10.1% in the 12 months to September

The Guardian - US

Are Democrats messing up their midterm messaging? Our panel responds

Democrats have come under fire from critics like Bernie Sanders, who say the party isn’t focusing enough on the economy. Is that right?

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