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The Latest Breaking News from Inflation

Inflation is hurting retirees, but there are ways to protect your lifestyle

Australia is in the grip of inflation not seen since the late 1980s, making it hard for retirees to survive on savings and the age pension.

The New Daily

DWP warning as update provided on whether benefits will rise in line with inflation

Liz Truss faces mounting pressure to raise benefits in line with inflation

Liverpool Echo

Decision on whether to raise benefits in line with inflation to be announced next month

It comes just days after members of the Cabinet publicly urged Liz Truss to raise benefits in line with inflation

Manchester Evening News

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Kwasi Kwarteng bows to pressure and brings forward debt-cutting plan to Oct 31

Kwasi Kwarteng has bowed to pressure and brought forward the publication of a report from the Government’s independent fiscal watchdog.

Evening Standard

Commentary: OPEC’s move to raise oil prices is all about Russia

On Wednesday, OPEC+ announced a dramatic reduction in production quotas, by 2 million barrels per day. According to oil ministers, the goal is to boost crude prices and “encourage investment” in the sector — making it sound like they are doing the world a favor. In fact, this is an…

Los Angeles Times

Conor Burns suggests Liz Truss should not have sacked him before groping claim investigated – as it happened

Former trade minister criticises decision to ask him to stand down as PM hopes for reset following weeks of turmoil

The Guardian - UK

Benefits must rise with inflation, says Sajid Javid as Liz Truss warned she will be ‘forced to cave’

Senior Truss backer makes clear scale of Tory rebellion with intervention

The Independent UK

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Liz Truss to hold meetings with Tory MPs in bid to woo critics

With Parliament returning this week, the Prime Minister will meet groups of colleagues as she faces a growing rebellion over benefits.

The Independent UK

Truss must raise benefits in line with inflation, Javid says

Former Tory chancellor also calls on Kwasi Kwarteng to speed up release of OBR forecasts

The Guardian - UK

Inflation, rising prices causing 79% of holiday travelers to change their plans

The holiday season is an opportunity to slow down, connect with friends and family or even take a much-needed vacation. But according to a new Bankrate survey, a substantial portion of travelers are rethinking their excursions this year. Of the 43 percent of U.S. adults planning to travel this holiday…

Tribune News Service

Ghana and the IMF: debt restructuring must go hand-in-hand with managing finances better

Ghana is struggling with managing its debt, 20-year high inflation, a weak currency, and rising inequality. For example, inflation rose to 33.9% in August 2022 from 9.7% a year earlier, while the cedi has depreciated by 41% year-to-date against the US dollar. These vulnerabilities have been worsened by the aftershocks…

The Conversation

America’s ‘weird’ economy isn’t working – can Democrats convince voters they can fix it?

Economy in focus: Phoenix’s economy appears to be booming – but wages are failing to keep up, and prices are spiralling. How do voters see it?

The Guardian - US

Scottish business activity falls for second month running

Private sector activity falls for second month running, amid sharper falls in new work

Insider UK

Asian shares extend losses as specter of recession looms

Asian shares have fallen, with Chinese markets logging moderate losses after reopening from a weeklong holiday

The Independent UK

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The Independent UK

Nevada Senate race tests potency of abortion focus for Dems

Democrats predicted abortion would be Sen. Catherine Cortez Masto’s saving grace

The Independent UK

Truss tells Tory rebels she’s ‘ready to listen’ in row over benefits

Speculation grows PM is getting ready to give in to Cabinet pressure to increase benefits in line with inflation

The Guardian - UK

Thousands of salaried Tesco workers forced to take real-terms pay cut

A 3% pay rise for team managers amid 10% inflation comes after a string of wage rises for hourly staff

Birmingham Post

Economic uncertainty and high inflation cause South West business activity to fall

Companies reported increases in costs, as higher payments for energy, wages and raw materials pushed up expenses

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news in one place.

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Bangkok Post

Bumpy road to recovery

Even as Thailand continues on its path to economic recovery in the fourth quarter, buoyed by tourism and domestic consumption, businesses are still unnerved by pressing challenges, including high inflation, a weaker baht, surging energy prices and flooding, which could hamper the rebound.

Daily Mirror

'Poor must not pay the price for the Truss government's economic incompetence'

Liz Truss will be condemning 200,000 children to poverty if she fails to raise benefits in line with soaring inflation - a move made because she lost control of the UK's finances

The Guardian - UK

Liz Truss on verge of major U-turn on real-terms benefits cut

Exclusive: Tory MPs warn PM she would lose vote on increasing benefits only in line with earnings rather than inflation

The Independent UK

Biden preaches patience to voters spooked by economic tumult

When it comes to reassuring Americans about an economy that's an election-year challenge to his party, President Joe Biden is telling the country to hold on

Newsroom.co.nz

Central banks stay the course as markets grow increasingly nervous

Oil prices surge 13 percent after dramatic supply cut by oil producing nations, putting new pressure on inflation and interest rates.

The Hindu

India will stand out with 7% growth rate in FY23 amid global gloom, says EAC-PM member Sanyal

New Delhi Amid fears of the world slipping into recession, India will perhaps emerge as the stronges

Daily Mirror

Cabinet to 'ambush' Liz Truss over benefit cut that'd put 200,000 kids in poverty

The PM is being warned she won't get the cut through as Tories plot with Labour in a civil war - and an ex-Sainsbury's boss warns the crisis is the worst since the 1970s

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