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The Latest Breaking News from Inflation

With Californians distressed over inflation, how will it affect the vote?

LOS ANGELES — At the Winery Restaurant in Newport Beach, which has sweeping views of the harbor and a luxurious wine list, the chile-lime-rubbed mahi-mahi served with tropical fruit chutney and jasmine rice cost diners about $32 in early 2020.

Los Angeles Times

Working a 65-hour week and struggling to make ends meet: welcome to Phoenix

Residents plan to ‘pay double’ in the Arizona metropolis, which has the highest inflation rate in the US

The Guardian - US

UK to enter recession until summer 2023, experts warn

High energy prices, surging inflation, rising interest rates and global economic weakness to blame

Wales Online

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UN: Ukraine War Pushes 4 Million Children into Poverty

Russia's invasion of Ukraine and the resulting economic fallout have thrown four million children into poverty across eastern Europe and Central Asia, the UN children's agency said Monday. "Children are bearing the heaviest burden of the economic crisis caused by the war in Ukraine," UNICEF said. The conflict "and rising…

Asharq Al-Awsat

US shelters see increase in surrenders – and one animal ‘returned in droves’

Shelters are overwhelmed as pet owners grappling with inflation surrender their dogs, cats – and guinea pigs

The Guardian - US

ASX falls as miners, energy stocks drag; Star casino in trading halt; Adbri plunges as boss departs

Australian shares fall, dragged down by mining and energy stocks on weaker iron ore and oil prices, while persistent fears of a possible worldwide recession weighed on investor sentiment.

ABC News

UK to be plunged into recession until summer 2023, economists warn

Britain’s economy is expected to shrink around 0.2 per cent each quarter from October through to June next year

The Independent UK

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Goldman Sachs expects worse UK recession in 2023

Bank tips economy to shrink 1% in downgraded forecast, but also predicts lower inflation and interest rates

The Guardian - UK

UK economy to enter recession until summer 2023, financial experts warn

Britain’s economy is expected to shrink around 0.2% each quarter from October through to June next year.

The Independent UK

‘Lives will be lost’ if benefits and wages do not rise in line with inflation

The most vulnerable are “paying the price” of world events, Olivier De Schutter, UN Special Rapporteur on extreme poverty and human rights, will say.

The Independent UK

White House’s Rouse says Fed inflation push starting to work

The Federal Reserve’s interest-rate hikes to bring inflation under control are starting to work, while President Joe Biden is doing everything possible to support the U.S. central bank, two administration economic advisers said.

Tribune News Service

The Guardian view on central bankers: don’t put them in charge of the crisis

Editorial: The UN is right to warn that governments risk a worldwide recession precipitated by excessive rate rises

The Guardian - UK

Inflation and inadequate welfare fuelling Australia’s food insecurity crisis, Foodbank finds

The charity’s annual Hunger Report estimates about 500,000 households on any given day struggle with getting enough to eat

The Guardian - AU

Thousands take to the streets of Paris to protest soaring prices

Thousands of people took to the streets of Paris on Sunday to protest against soaring prices as weeks of strikes for higher wages at oil refineries spurred demands for a general strike.

Reuters

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The Independent UK

Small businesses brace for cautious holiday shoppers

Small businesses are stocking the shelves early this holiday season and waiting to see how many gifts inflation-weary shoppers feel like giving

Daily Mirror

Hundreds of thousands of teachers balloted for strikes - risking school closures

Teachers are up in arms over the Government's below-inflation pay offer, with three major education unions expected to formally ballot their members for strike action

Wales Online

Teachers threatening strikes told Welsh Government simply can't afford to pay what they want

Welsh Government education minister Jeremy Miles said the unions' 12% pay demand was 'reasonable' but the cash simply isn't there

The Independent UK

March against inflation turns up political heat in France

Protesters demanding wage increases, greater taxation of windfall profits and other steps to lessen the bite of rising inflation are marching in Paris, heeding the call of left-wing parties and trade unionists hoping to crank up pressure on the government of French President Emmanuel Macron

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The Guardian - US

Republicans are trying to win by spreading three false talking points. Here’s the truth

Republicans want midterm voters to believe lies about crime, inflation and taxes. This is what they’re claiming – followed by the facts

The Guardian - US

Latest US inflation data raises questions about Fed’s interest rate hikes

Experts say raising rates ‘isn’t working’ and that the real culprits are corporate pricing, energy costs and supply chain

The Guardian - UK

Yes, a new economic era was coming, but that made this act of self-harm even more idiotic

All advanced economies are facing a tough future as interest rates spike. But only one decided to add a heap of uncertainties of its own making

The Independent UK

Biden: Truss plan a 'mistake' amid 'worldwide inflation'

President Joe Biden is calling embattled British Prime Minister Liz Truss’ abandoned tax cut plan a “mistake,” saying he is worried that other nations’ fiscal policies may hurt the U_S_ amid what he calls “worldwide inflation.”

Tribune News Service

Craig, Kistner battle over economy, abortion in top-dollar U.S. House race

MINNEAPOLIS — The Twin Cities' southern suburbs and rolling rural communities that stretch toward Mankato have become a key front in the nationwide battle for control of Congress.

AAP

Govt defends big road and rail spending

The federal government hopes a near-$10 billion infrastructure investment won't do more to drive inflation as it prepares for October 25's budget.

StockNews.com

Bear Markets Are Never Easy….Not Even for Bears

Bear markets are never easy. Not even for bears. Today's action is a reminder of that, and why the POWR Stocks Under $10's charter is to remain at least 50% invested. In a way, it reminds me of what happened in February, when markets were sinking lower on the prospects…

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