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The Latest Breaking News from Inflation

Thai stock investor mood at 11-month low on Fed, inflation

Investor confidence in the Thai stock market has hit an 11-month low on concerns about the US Federal Reserve's fast monetary tightening policy, global inflation and Covid-19 infections, a capital markets group said on Thursday.

Bangkok Post

FTSE 100 Live: JP Morgan earnings fall short, big US rates rise expected

Financial results from JP Morgan Chase and Morgan Stanley fell short of expectations as inflation and interest rate pressures hit the US economy.

Evening Standard

Shares, pound and oil slide as recession fears mount – as it happened

Anxiety over global slowdown knocks sterling to a two-year low, as oil falls to its levels when the Ukraine war began

The Guardian - UK

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Poll: Asian FX bear market firms, short bets rise on Thai baht

Bearish bets on nearly all Asian currencies firmed to new multi-year highs, as fears of an impending recession from rapidly rising interest rates to rein in sky-high inflation dampened sentiment, a Reuters poll showed on Thursday.

Bangkok Post

Canada has raised interest rates by 1 percentage point. Could Australia follow?

As central banks scramble to fight inflation, with Canada's 100-basis-point interest rate rise the latest and largest move, a leading economist warns they may push the world into recession.

ABC News

Asian stocks up after US inflation fuels rate hike fears

Asian stock markets are higher after a rise in U.S. inflation stoked expectations of more rate hikes that investors worry will chill economic growth

The Independent UK

Biden, on Middle East tour, is battered by inflation and low approval ratings at home

The sobering numbers, caused by high energy prices, will be top of the agenda as president visits the Middle East

The Guardian - US

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Singapore, Philippines tighten monetary policy on inflation fears

Moves come after interest rate hikes by South Korea and New Zealand a day earlier.

Al Jazeera

With tax cuts pledges galore, the Tories are out of touch with economic reality

Labour would never be allowed to get away with the fantastical rhetoric of these Conservative leadership contenders, says Guardian economics editor Larry Elliott

The Guardian - UK

Oil Prices Rise Ahead of Potential Large US Rate Hike

Oil prices rose on Thursday, with Brent breaking above $100 a barrel, as investors weighed tight supplies against the prospect of a large US rate hike that would stem inflation and curb crude demand. Brent crude futures for September climbed 68 cents, or 0.7%, to $100.25 a barrel by 0400…

Asharq Al-Awsat

Global recession risk rising as economic outlook ‘darkens significantly’, IMF says

Cost-of-living crisis ‘only getting worse’ says IMF chief Kristalina Georgieva, predicting a tough 2022, and ‘even tougher 2023’

The Guardian - AU

Philippines surprises with big rate hike to cool inflation

The Philippine central bank unexpectedly raised its key interest rate by 75 basis points, after policy makers previously downplayed the need for large hikes to quell the fastest inflation in nearly four years.

Bangkok Post

Rupee hits fresh low of 79.64/$ at close as FIIs continue to exit

MUMBAI: The rupee weakened by four paise to close at a new low of 79.63 in the foreign exchange market on Wednesday. The currency opened strong at 79.55. Dealers said that June inflation numbers coming in at 7.01%, which was better than expected, was a positive.

The Times of India

Reconciliation talks complicated by ‘SALT’ tax hurdle

WASHINGTON — Democrats’ demands for changes to the tax code are threatening to complicate efforts to pass a slimmed-down budget reconciliation package by the August recess, as warring positions on a deduction for state and local taxes reemerge as a potential roadblock.

Tribune News Service

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The Times of India

Mumbai: Auto union for fuel subsidy, not fare hike

MUMBAI: The biggest autorickshaw union of Mumbai, Mumbai Autorickshaw men's Union, on Wednesday announced that it was against a hike in autorickshaw or taxi fares as citizens were already burdened with inflation.

The Guardian - AU

A recession is not inevitable in Australia – and certainly not necessary

The level of inflation we have and its causes do not require a recession to reduce them. Such talk is foolish

Benzinga

Bitcoin, Ethereum, Dogecoin Surge Despite Red Hot Inflation: Is Apex Crypto Showing Signs Of Stabilizing?

Bitcoin and other major cryptocurrencies rose Wednesday, brushing off hotter than expected inflation, as the global cryptocurrency market cap rose 4.6% to $902.7 billion.

France 24

US inflation rises again, squeezing wallets and dogging Biden

U.S. inflation surged to a new four-decade high in June because of rising prices for gas, food and rent, squeezing household budgets and pressuring the Federal Reserve to raise interest rates aggressively—trends that raise the risk of a recession.

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Reuters

Brazil Congress approves major spending bill, lifting Bolsonaro re-election hopes

Brazil's Congress on Wednesday approved a major spending package that President Jair Bolsonaro is banking on to lift his flagging re-election hopes, despite expectations it will fan double-digit inflation and hurt Brazil's exchange rate.

Evening Standard

Brits tighten their belts as inflation erodes household budgets

Brits are cutting back their spending as soaring inflation takes its toll on household budgets.

The Guardian - UK

Cost of living crisis widens north-south divide in England and Wales by 30%

Inflation gap highlights need for Boris Johnson’s successor to stick to levelling up agenda – thinktank

The Independent UK

Share of children in material deprivation ‘fell by a quarter before pandemic’

Relative child poverty rose over the same period, the Institute for Fiscal Studies found.

Bangkok Post

TAT cautiously upbeat on domestic trips

Inflation and volatile oil prices remain the key factors hitting domestic trips, despite positive travel sentiment during the five-day weekend for government employees, according to the Tourism Authority of Thailand (TAT).

Bangkok Post

Subdued spending in second half

Most industry chiefs believe private consumption in the second half is expected to remain flat, limited by pressure from high energy prices and the prolonged pandemic.

ABC News

ASX rises; US annual inflation rises 9.1 per cent, posting largest increase since 1981

Australian shares have risen on Thursday, lifted by mining and gold companies after a sharp rebound in commodity prices, although worries over hot US inflation data and an impending rate hike capped gains.

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People

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