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The Latest Breaking News from Inflation

All you need to know about rising interest rates including savings and mortgages

The Bank of England has increased its base rate from 1.25% to 1.75% - a rise of 0.5 percentage points. It argues that raising rates now will bring inflation under control sooner

Daily Mirror

Millions of people who claim these benefits to receive £150 cost of living payment in September

The announcement comes as the Bank of England warns that the UK faces a bleak year with inflation hitting 13%

Wales Online

Boris Johnson and Keir Starmer both on holiday as economy crumbles

BORIS Johnson has come under fire for being on holiday while the UK is forecast to go into recession amid rising interest rates and inflation.

The National (Scotland)

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Walmart is cutting 200 corporate jobs as profits fall with inflation

The company warned last month that as Americans tighten their belts on general merchandise to cover basic necessities, profits are expected to decline

The Independent UK

Council shares auditor concerns over looming financial challenge

Cllr Paul Brant said inflation was hitting Liverpool Council hard

Liverpool Echo

Liz Truss and Rishi Sunak tear into each other as Britain heads for recession

Both candidates to be the next Prime Minister questioned the other's approach as Labour warned that the Tories "have lost control of the economy"

Daily Mirror

Are the Inflation Reduction Act's Climate Goals Plausible?

A 40 percent cut in U.S. greenhouse gas emissions by 2030 is possibly achievable.

Reason

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Hundreds of Amazon workers down tools at Essex warehouse over ‘pathetic’ 35p an hour pay rise

Pay protest comes as inflation is expected to peak at 13% this year

Evening Standard

Long-term mortgage rates under 5% for 1st time in 4 months

The average long-term U.S. mortgage rate fell below 5% for the first time in four months this week, just after the Federal Reserve jacked up its main borrowing rate in an aggressive effort to get inflation under control

The Independent UK

Bank of England raises interest rates in bid to tame inflation

UK’s central bank hikes key interest rate to 1.75 percent, its highest level since 2008, and warns of recession ahead.

Al Jazeera

What rise in interest rates mean for first-time buyers - and your mortgage payments

THE UK is set to fall into its longest recession since the financial crisis and inflation will peak at more than 13 as gas prices soar, the Bank…

The National (Scotland)

How will inflation affect me as it rises again to 1.75 per cent

The Bank of England today voted to raise interest rates to their highest level since 2008. This is also the single-biggest rise since 1995.

The National (Scotland)

Interest rates rise to 1.75%, with UK set to enter recession this year

Bank of England hikes rates to their highest level since January 2009

Insider UK

French MPs poised to approve €20bn inflation relief package

Cost of living measures include pension rises, a cap on rent increases and a civil service pay rise

The Guardian - UK

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Daily Record

Ofgem confirms energy price cap to be reviewed every three months as inflation predicted to hit 13.3%

Energy bills are not expected to start coming down until then end of 2024 or early 2025.

The Conversation

Inflation rates are rising in the US – an economist explains why

Consumer prices in the U.S. are rising due to inflation at the fastest rate they have in decades. Earlier this summer, SciLine interviewed Martha Olney, a teaching professor emerita of economics at the University of California, Berkeley, about what’s causing prices to rise and what the government can do to…

Wales Online

The UK is facing the worst recession since the financial crisis, warns the Bank of England

UK faces a bleak year as living standards plunge and inflation is set to hit 13% and the UK faces the longest economic downturn since the 2008 financial crisis

The Independent UK

Advocates: Senate bill means environmental health, also harm

Billions of dollars in climate and environment investments from the Inflation Reduction Act could flow to communities in the United States that have been plagued by pollution and climate threats for decades

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Manchester Evening News

Bank of England says UK to enter recession lasting more than a year with inflation hitting 13.3%

The Bank has stated that the UK's "growth is very weak by historical standards"

The Guardian - UK

As recession looms, the Bank of England’s independence is under threat

Analysis: The monetary policy committee has been accused of being asleep at the wheel amid cost of living crisis

The Guardian - UK

Bank of England hikes rates as it predicts 13% inflation and long recession

Base rate raised by 0.5 percentage points to 1.75%, as Bank says inflation will hit 13% in October

Evening Standard

Bank of England warns of long recession in 2023 as it hikes interest rates

Economists say bleak new GDP and inflation forecasts are a “horror show.”

Manchester Evening News

Bank of England raises interest rates to 1.75 per cent - the biggest hike in 27 years

It comes after experts warned that inflation could peak at 15 per cent

Daily Mirror

Bank of England doomsday forecast of recession, interest rates and 13% inflation

The dire economic conditions will see real household incomes drop for two years in a row, the first time this has happened since records began in the 1960s, according to the Bank's forecasters

The National (Scotland)

UK economy to fall into recession, predicts Bank of England as interest rates hiked

THE Bank of England has made its biggest increase in UK interest rates in 27 years while inflation is expected to peak at 13.3 per cent in October.

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