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The Latest Breaking News from Inflation

Inflation could almost double to 18.6% - as experts warn energy bills will top £5,800

Experts warn that inflation may rise by even more than the Bank of England fears, with energy bill rises pushing up the overall cost of living for millions of households

Daily Mirror

UK inflation set to ‘enter the stratosphere’ and hit 18.6% by January as gas prices continue to surge

Dire new forecast says energy bills will reach £5,816 in April

The Independent UK

Cost of living crisis 2022: How to cope with the rise in prices

Millions of Britons are struggling as the price of everything soars amid rising energy prices and inflation. Kate Ng turns to financial experts for advice on how to deal with it all

The Independent UK

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Cost-of-living crisis: Shock warning on 18% inflation

City experts’ fears over energy price surge and claim rates could hit 7%

Evening Standard

As inflation soars, access to Indigenous foods declines

Traditional Indigenous foods — like wild rice, bison, fresh vegetables and fruit in the Midwest — are often inaccessible for Native families with low incomes in urban areas, and the recent inflation spike has propelled these foods even further out of reach

The Independent UK

Inflation will hit 18.6 per cent in January, investment bank predicts

INVESTMENT bank Citi has predicted that UK inflation is on course to rise to 18.6 per cent in January – the highest peak in almost half a century.

The National (Scotland)

Business economists give soft landing the side-eye

Private-sector economists are skeptical the Fed can end inflation without causing a recession, survey shows.

Axios

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Are 87,000 New IRS Agents Coming for Your Tax Dollars?

Billions in funding for the IRS has some people worrying about IRS agents and audits.

Kiplinger

How do interest rates affect inflation?

Borrowing costs already at their highest level in 13 years

The Independent UK

What does inflation mean for you?

Cost of living crisis continues to bite as energy bills, fuel and food prices climb

The Independent UK

What does the rising rate of inflation mean for you?

Cost of living crisis continues to bite as energy bills, fuel and food prices climb

The Independent UK

Truss poised to plunge UK economy into ‘inflation spiral’, says Sunak

Truss cannot deliver £50bn tax cuts and support packages without pushing debt to dangerous levels, says Tory leadership rival

The Guardian - UK

‘The world flipped upside down’: will end of Roe galvanize Democrats’ base in midterms?

Democrats believe a brewing backlash after June ruling will reshape the battle for control of Congress and statehouses this fall

The Guardian - US

Union calls for universities to use £3.4bn surplus to raise staff pay, or face strikes

Sector needs to invest in people rather than ‘shiny new vanity projects’, says UCU general secretary

The Guardian - UK

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The Independent UK

Asian stocks mixed before Fed meeting after China cuts rate

Asian stock markets are mixed after China cut an interest rate that affects mortgage costs

Irish Mirror

George Hook says debt nearly destroyed marriage and believes recession 'inevitable'

And he believes a recession is inevitable after such a rise in inflation.

Tribune News Service

Powell has chance to reset market expectations at central bankers' gathering

Federal Reserve Chair Jerome Powell will have a chance — if he wants to take it — to reset expectations in financial markets when central bankers gather this week at their annual Jackson Hole retreat.

Daily Record

Warning 'toxic cocktail' of energy bills and inflation will leave Scots freezing or starving

The Citizens Advice service warned that the huge increase it has seen in Scots seeking help to meet basic food and heating costs will get worse.

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The Times of India

Rs 70,000 crore pulled out from debt MFs in June quarter

NEW DELHI: Investors continued to withdraw from mutual funds focused on investing in fixed-income securities for the third consecutive quarter and pulled out over Rs 70,000 crore in April-June due to high inflation and an increasing rate cycle.

The Independent UK

Liz Truss will cause inflation spiral with ‘dangerous’ tax cuts, Rishi Sunak warns

Tory leadership contest rattles on as Labour poll lead grows

The New Daily

Where do the RBA and economists now stand on wages growth?

Decision makers are torn between wanting to lift wages for fairness and consumption, and wanting to keep wages down to control inflation.

Newsroom.co.nz

The Reserve Bank and the war on inflation

Why is the Reserve Bank facing flak from every angle over its economic handling of the pandemic?

Nottingham Post

Sainsbury's record price for pint of milk amid cost of living crisis

Higher dairy prices have been one of the biggest drivers of food inflation

Reuters

Germany considering follow-up to 9-euro monthly transport pass - Scholz

German Chancellor Olaf Scholz on Sunday called the monthly 9 euro ticket for public transport that his government introduced to help offset soaring inflation a "big success" and announced talks for a follow-up scheme.

The Guardian - UK

How to tackle the UK cost of living crisis – the main economic ideas

Our writers assess and cost the key ideas floated so far, from targeted help to the most vulnerable to a new windfall tax

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