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The Latest Breaking News from Inflation

Lower gas prices stoke hopes for a brighter inflation outlook

UK wholesale gas prices remain significantly under the peak levels touched in August

Evening Standard

UK Government urged to give assurance DWP benefits will be uprated next April to match inflation

The Work and Pensions Committee has pressed the Chancellor for a commitment to the benefits uprating for 2023/24.

Daily Record

Scottish Tory leader urges party to unite as he backs under-fire PM

Douglas Ross also called for benefits to be increased – but refused to say if that should be in line with inflation.

The Independent UK

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Glasgow families to spend more than £150 on weekly shop by 2030

By the year 2030, households in Glasgow could be spending more than £150 on average on their weekly shopping according to new research — an additional £8,000 a year

Glasgow Live

Universal Credit claimants who already have a job 'should be working', top Tory moans

In eyebrow-raising claims, Suella Braverman, the Home Secretary, said people who 'should be working' instead 'choose to top up their salaries with tax credits'

Daily Mirror

‘National uprising’ if benefits not hiked with inflation, says Gordon Brown

Liz Truss would be ‘immoral’ to make poor pay price of economic plan, says former Labour PM

The Independent UK

Economy seen up 3.0 to 3.5% this year, says finance minister

The Thai economy is still expected to grow 3.0 to 3.5% in 2022, while a weak baht is helping exports, Finance minister Arkhom Termpittayapaisith said on Wednesday.

Bangkok Post

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FTSE 100 Live: Tesco profits fall, OPEC considers oil output cut

Tesco’s half-year profits have fallen 10% as the supermarket giant grapples with the impact of “significant” cost inflation.

Evening Standard

Tesco to cut 300 head office jobs while raising pay for shop workers

Supermarket aims to make £500m of savings but will freeze prices on more than 1,000 products until 2023

The Guardian - UK

Hong Kong shares soar 6%, leading Asian market gains

Hong Kong's share benchmark has soared more than 6% as Asian shares track gains on Wall Street

The Independent UK

White House ‘disappointed’ as Opec+ cuts production by 2m barrels per day – business live

Oil cartel and allies including Russia make biggest cut in output since the start of the pandemic, despite pressure from the White House

The Guardian - UK

Liz Truss confirms State Pension to increase with inflation next April but other benefits not yet confirmed

DWP boss Chloe Smith will make the decision on the benefit uprating this autumn

Chronicle Live

Headline CPI rises 6.41% y/y in Sept, less than forecast

Thailand's headline inflation rate in September slowed from the previous month and less than expected, data showed on Wednesday, but above-target consumer prices reinforced expectations of further interest rate hikes.

Bangkok Post

Liz Truss - live: PM to say UK ‘needs to do things differently’, admits causing ‘disruption’

Fall-out over abandoned tax cut could continue over whether to increase benefits in line with inflation

The Independent UK

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Bangkok Post

Economists urge caution for gloomy 2023

Thailand needs to prepare for global economic difficulties as they will intensify next year, according to economists.

The Independent UK

US starts fiscal year with record $31 trillion in debt

The nation’s gross national debt has surpassed $31 trillion, according to a U.S. Treasury report released Tuesday

Tribune News Service

Job openings in Washington grew rapidly this summer. That's not good news

This summer, more companies posted job openings in Washington state than almost anywhere else in the U.S., indicating inflation is likely to persist as labor shortages continue.

StockNews.com

How Long Will This SUCKERS Rally Last?

As quickly as the S&P 500 (SPY) fell in September it has bounced as quickly to start October. Yet with inflation still raging, and the Fed likely to keep raising rates that also harms the economy...it becomes hard to get long term bullish at this time. So let’s discuss what…

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Daily Mirror

Families queue for emergency food five miles from Tories drinking Champagne at conference

Hungry households urged Conservatives descending on Birmingham to throw them a lifeline - with inflation running at 9.9 per cent, food prices rocketing and banks scrapping mortgage deals, many fear their plight will deepen

Benzinga

Major Drop In US Job Openings, Will The Fed Now Pivot? Don't Bet On It

Global bonds and equities are rising in anticipation that the Federal Reserve will reconsider the aggressive tightening of monetary policy that some fear may contribute to the start of a global recession, but history says the Fed may do

ABC News

The Aussie dollar is dropping against the US currency, but it’s not all bad news

A higher US dollar isn't great news for global trade, but some Australian businesses are able to benefit and travellers have reason to smile as well.

The Independent UK

‘These things take forever’: Kwarteng says public spending review is too much bother

Chancellor dismisses fears of rampant inflation – arguing state services are not like public who ‘buy shopping in Sainsbury’s’

The Independent UK

Haiti at breaking point as economy tanks and violence soars

Haiti, the poorest country in the Western hemisphere, is in the grips of an inflationary vise that is squeezing its citizenry and exacerbating protests that have brought society to the breaking point

The National (Scotland)

'My rent has doubled but my wages haven't': Scot struggles to keep up with rising prices

RONNIE Carroll has seen his rent more than double in the 15 years he’s stayed in his Edinburgh flat.

Daily Mirror

Liz Truss MUST ditch welfare cuts to prevent a 'benefits bloodbath', says Gordon Brown

Writing for the Mirror, former Prime Minister Gordon Brown says Liz Truss must raise benefits by inflation - 'and worry more about millions on the breadline than millionaires in the boardrooms'

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