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The Latest Breaking News from Inflation

Costs for Australian businesses rose 5.6 per cent in the 12 months to June 30, their biggest increase since December 2008.

AAP

Here’s why the US economy shrinking in the 2nd quarter may not be so bad

WASHINGTON — In the most aggressive back-to-back interest rate increases since the early 1980s economic crisis, the Federal Reserve on Wednesday announced another hike of three-quarters of a percentage point and signaled more to come in its effort to beat back inflation despite the risk of a recession.

Los Angeles Times

US recession fears deepen as economy contracts for 2nd straight quarter: What about India?

NEW DELHI: World biggest economy contracted for the second quarter in a row on Thursday, triggering fears of recession.

The Times of India

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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

Obama praises Biden breakthroughs on climate, drug prices and economy in rare remarks

Ex-POTUS praises historic investment in efforts to fight climate change and inflation

The Independent UK

A Lot Of Smart People And Jim Cramer Read Inflation Situation Wrong, Comedian John Oliver Says

A late night comedian has taken aim at CNBC host and stock market personality Jim Cramer over his flip flopping on inflation and being wrong on how bad things really are. Here’s what John Oliver had to say.

Benzinga

A Historical Analysis of Commodity Cycles from the 1970s to 2020s

The global economy periodically experiences steep movements in commodity prices, causing cyclic booms and busts. These are called commodity cycles, a complex process emerging from macroeconomic shocks, supply chain bottlenecks, and policy failures.

Benzinga

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Volume of retail sales down 1.3% in Ireland in June amid rising inflation

The largest increase in sales was in furniture and lighting, at a rise of 25.9% compared to the previous month

Irish Mirror

Schumer rallies Democrats after surprise deal with Manchin

Senate Majority Leader Chuck Schumer has told fellow Senate Democrats they now have an opportunity to achieve two “hugely important” priorities on health care and climate change after the deal he struck with Sen. Joe Manchin

The Independent UK

People with new jobs are making way more money

60% of job-switchers are making more money, even with inflation

Axios

US economy shrinks for a second quarter, fueling recession fears

The drumbeat of recession grew louder after the U.S. economy shrank for a second straight quarter, as decades-high inflation undercut consumer spending and Federal Reserve interest rate hikes stymied businesses and housing.

Tribune News Service

Homebuilder Sentiment Hit Lowest Level in 2 Years — Is It Time to Sell These 3 Stocks?

Home builder sentiment has hit a record low due to concerns about the rising inflation and recession possibilities. Moreover, affordability is taking a toll on buyer traffic. So, should you drop homebuilding stocks Five Point Holdings (FPH), Howard Hughes (HHC), and LGI Homes (LGIH)? Keep reading to learn our view….

StockNews.com

Nestle reports higher sales even as it raises prices

Global food giant Nestle has reported higher sales in the first half of the year, even as it increased prices by 6.5% as inflation soared around the world

The Independent UK

What Does The New Senate Deal Mean For Tesla, Toyota And Other Automakers?

Senate Majority Leader Chuck Schumer and Democratic Sen. Joe Manchin have agreed to vote on the “Inflation Reduction Act of 2022,” which has at its core measures to tackle inflation including paying down national debt and lowering energy and healthcare costs.

Benzinga

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The New Daily

Why some economists believe the Treasurer is being too pessimistic

Millions of Australian households are facing a “difficult” year ahead as the cost of living soars. But some believe the Treasurer is over-egging inflation.

The New Daily

Federal Reserve’s dovish tilt and mega-tech earnings dominate markets this week

In this week's top market news, the Federal Reserve indicates it could ease its foot off the brake pedal as US tech companies perform better than expected.

The Guardian - UK

Nestlé raises prices by 6.5% in first six months of the year

Swiss food and beverage group says sales rose 9.2% driven by price increases, beating expectations

Daily Mirror

Co-op Bank gives staff £1,000 pay rise to help with cost of living and rising bills

Employees at the Co-operative Bank are to receive a £1,000 pay rise to help them with rising bills from this September. Around 95% of its employees will be eligible for the boost

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The Conversation

Grattan on Friday: Jim Chalmers is a good performer, but can he hold the public's trust through hard times?

Jim Chalmers delivers bad economic news well, which is a good thing because there’s a great deal of it about, with a lot more to come.

Evening Standard

Conservative leadership: Pragmatic Prime Minister is needed to navigate recession

City Voices: Candidates for PM must drop dogmatic approach to tax

The Conversation

The Chalmers graphs: 7.75% inflation, plunging real wages, weak growth

As he had promised to do almost since the day he became treasurer, Jim Chalmers has presented a gloomy set of forecasts for the Australian economy in his first formal economic statement to the new parliament on Thursday.

Benzinga

Biden's Plan To Tackle Inflation Gets A Fresh Lease Of Life As Manchin Comes To Terms With Democrats

Senator Joe Manchin III (D-WV) said in a statement Wednesday that he would vote for the Inflation Reduction Act of 2022 — the name of a law that addresses inflation, lowering energy and healthcare costs.

Wales Online

Money-saving hacks to ease grocery bills as food price inflation hits 13-year high

Data suggests families are set to see their annual grocery bills jump by £380 this year and many households are feeling the pinch

The Independent UK

Cost of living – Martin Lewis warns government to take ‘urgent action’ as energy bills soar

Oil and gas companies report landmark earnings as households crippled by price caps

ABC News

The Loop: Neighbours comes to an end, the Treasurer warns inflation will get worse, and a Sydney climber's body found on a mountain

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