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The Latest Breaking News from Inflation

IMF Cuts Global Growth Outlook, Warns High Inflation Threatens Recession

The International Monetary Fund cut global growth forecasts again on Tuesday, warning that downside risks from high inflation and the Ukraine war were materializing and could push the world economy to the brink of recession if left unchecked. Global real GDP growth will slow to 3.2% in 2022 from a…

Asharq Al-Awsat

Goodbye, Choco Taco. Hello, Expensive Household Goods - How Unilver Is Handling Inflation

Chaco Taco has gone the way of Jell-O Pudding Pops and Flintstone Push-Ups. Household item conglomerate Unilever PLC (NYSE: UL) is discontinuing the beloved ice cream snack, first invented in Philadelphia in 1983.

Benzinga

US consumer confidence falls for third consecutive month as recession fears loom

Inflation and rate hikes expected to create further headwinds in coming months as midterm elections move closer

The Independent UK

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Spain raises inflation forecast for 2022, lowers GDP growth target for 2023

Spain raised its inflation forecasts for 2022 and 2023 and lowered its economic growth target for 2023, Economy Minister Nadia Calvino said on Tuesday, citing the war in Ukraine for its continued negative impact on European economies.

Reuters

World is 'teetering on the edge of recession' as UK set to be weakest G7 economy

The outlook from the IMF isn't rosy

Wales Online

Biden fights talk of recession as key economic report looms

President Joe Biden wants to convince a skeptical public that the U.S. is not, in fact, heading into a recession

The Independent UK

US economy sending mixed signals: Here's what it all means

The U.S. economy is caught in an awkward, painful place

The Independent UK

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DWP confirm Universal Credit claimants could see rise in payments from April 2023

A Minister from the Department of Work and Pensions (DWP) has confirmed that claimants will find out if their Universal Credit will increase in November. But if it does increase in line with inflation, they won't see it until next year.

Glasgow Live

UK growth forecast downgraded AGAIN as IMF makes gloomy prediction

THE UK’s economic growth is slowing even more due to rampant inflation and it is set to be the weakest economy among the G7 nations next year, the…

The National (Scotland)

Unilever hikes prices for products but expects strong sales

Unilever says it raised prices by more than 11% between April and June as inflation surged

The Independent UK

‘Dangerous’: ATO hands out $5.7 billion in tax refunds in July as inflation soars

The federal government has paid out $5.7 billion in tax refunds to households in July amid warnings the stimulus will worsen soaring inflation.

The New Daily

The 3 Best Stocks to Hedge Against Inflation

With inflation at a multi-decade high and the Fed’s aggressive interest rate hikes increasing the odds of a recession, the stock market is expected to remain highly volatile in the upcoming months. So we think investing in fundamentally sound stocks Coca-Cola (KO), Marathon Oil (MRO), and Weis Markets (WMK) could…

StockNews.com

Brazil inflation data paints rosier picture after fuel tax cuts

Brazilian consumer prices increased slightly less than expected in the month to mid-July, the country's statistics agency said on Tuesday, posting the lowest monthly increase in two years following a wave of government anti-inflation measures.

Reuters

As prices rise, the push to end diaper taxes grows

To help inflation-plagued and struggling families ease the burden of buying necessities, several states are scrapping the sales tax on infant and adult diapers.

Tribune News Service

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The Guardian - UK

IMF says global economy is edging towards recession

Fund cuts forecasts as US, China and eurozone stall and inflation beats expectations

Al Jazeera

Unprecedented price hikes put the squeeze on Iranian tenants

Authorities are planning to build more homes and control tenancy contracts to help ease the pressure.

The Guardian - UK

Marmite maker Unilever raises prices by 11% as inflation increases costs

Consumer goods group reports sales growth despite falling volumes of goods sold

Evening Standard

Soaring inflation helps Compass Group as ‘first-time outsourcers’ scramble to cut costs

FTSE 100 caterer to Wimbledon, the Oval and London offices also boosted by the return of workers

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Birmingham Post

Cost of Living: List of firms helping staff with bonus payments

A growing band of firms from banks to law firms are helping put staff with one-off payments to help them meet rising costs - we take a look at what's on offer

The Independent UK

Global stocks mixed ahead of expected US rate hike

Global stock markets are mixed as investors brace for another sharp interest rate hike by the Federal Reserve to cool inflation

Evening Standard

Unilever braced for tighter margins as inflation hits company profits

Unilever boss Alan Jope said product prices had not kept up with inflation

Al Jazeera

Zimbabwe launches gold coins to stem inflation

Authorities are struggling to pull Zimbabwe from the grip of an economic crisis characterised by rising prices.

Wales Online

TSB giving £1,000 cost of living bonus to 4,500 staff

Comes as some economists believe inflation may reach around 12% in October.

Wales Online

DWP to announce increase in Universal Credit just before Christmas

The changes could mean an extra £600 a year

Chronicle Live

Amazon announces price rise for Prime delivery and TV

Giant company blames 'inflation and operating costs' for rise from £79 to £95 per annum

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