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The Latest Breaking News from Inflation

Londoners face biggest mortgage hit after interest rate rise

London homeowners will be hardest hit by this week’s rise in interest rates, according to new research released on Friday.

Evening Standard

‘Four chips on a plate’: Ministers told to boost school meal funding as children ‘getting smaller portions’

Caterers are switching to cheaper products as food costs rise

The Independent UK

Markets fall for 6 straight sessions: Sensex, Nifty suffer biggest weekly drop in over 2 years

NEW DELHI: Equity indices continued to reel under pressure from global markets as both sensex and Nifty logged their worst weekly fall in over 2 years.

The Times of India

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The latest Bank of England rate rise won't do much to tackle inflation - here's what could work

There wasn’t much dramatic tension as markets waited for the Bank of England’s latest decision on interest rates. The fifth monthly quarter-point hike in a row was largely expected, taking the base rate to 1.25% in June 2022. All the announcement really revealed, in fact, was what a mess UK…

The Conversation

Stock slump worsens as recession worries grow

The S&P's 2022 decline is now 23%, putting the index on track for the worst first-half performance since 1962.

Axios

Benzinga Before The Bell: SpaceX Fires Staff Critical Of Musk, Snapchat Tests Subscriptions And Other Top Financial Stories Friday, June 17

Reuters London’s Gatwick Airport To Fly Lesser Number Of Flights During Summer Season

Benzinga

Buy now, pay later clobbered by interest rate hikes and inflation fears

Buy now pay later firms have been the darlings of share markets in recent years but their shareholders are at last having to pay the cost

The New Daily

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Inflation Hits Anheuser-Busch, CFO Says Price Increase On Cards

Anheuser-Busch InBev SA/NV (NYSE: BUD) mulls raising prices for some of its beverages in an effort to manage inflation.

Benzinga

Foreigners pay more for gas in Hungary. It risks an EU fight

Hungary has placed price caps on fuel and some food and imposed special taxes on industries as the governments tries to ease an economic downturn and the highest inflation in nearly 25 years

The Independent UK

RBI not behind the curve; tolerance of high inflation was a necessity: Das

In March, the RBI felt that economic activity was above the pre-pandemic levels and decided to shift focus to curbing inflation, the central bank Governor said

The Hindu

Tunisia at standstill as general strike paralyses country

Tunisia has ground to a halt under strike action, with skyrocketing inflation and unpopular reforms sending tens of thousands into the streets. We hear more from our correspondent in Tunis. Also, many Nigerians who fled to neighbouring Niger under the tyranny of Boko Haram are being called on to return…

France 24

Shoppers face “unprecedented” cost of living pressures, warns Tesco

Tesco said customers are facing “unprecedented” inflation pressures and are trading down to cheaper items as it pledged to do everything it could to support those struggling most.

Evening Standard

London businesses ‘overwhelmed’ by soaring costs and staff shortages as ministers urged to cut taxes

The London Chamber of Commerce and Industry is demanding action from the Government to protect its members

Evening Standard

RBI not behind the curve, focus on inflation target could have been disastrous for economy: Shaktikanta Das

MUMBAI: Reserve Bank of India (RBI) governor Shaktikanta Das on Friday refuted criticism of the RBI being behind the curve in its policies, making it clear that the consequences of focusing on the 4 per cent inflation target would have been "disastrous" for the pandemic-hit economy.

The Times of India

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The Guardian - UK

Tesco shoppers buy fewer items amid ‘unprecedented’ cost of living squeeze

UK’s largest supermarket gains market share but reports ‘changing customer behaviour’

The Guardian - UK

Global stock markets head for steepest weekly fall since 2020 as recession fears rise – as it happened

Rolling coverage of the latest economic and financial news

Dublin Live

Dublin's children’s hospital costs to increase by €51million

The cost of building the hospital is expected to rise due to inflation

The Independent UK

Takeaways from AP interview: Biden on inflation, US psyche

President Joe Biden sat down with The Associated Press to discuss the state of the economy, his concerns about the national mood, and his commitment to standing up to Russia’s aggression in Ukraine

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Liverpool Echo

All you need to know about UK's interest rate hike, and what it means for you

Borrowers will see increases to their mortgages and could see hikes to overdraft and credit card rates

The Guardian - AU

Stock markets plunge again as flurry of interest rate hikes fuels recession fears

Investors wary as other central banks follow US Federal Reserve in raising borrowing costs

Daily Mirror

Brits warned UK 'may already be in recession' as inflation could climb to 11%

Experts have warned that Britain may be sliding into a recession as inflation continues to soar and the Bank of England is forced to raise interest rates for the fifth time

Wales Online

No tax cuts in England before inflation is tamed, ministers suggest

Rishi Sunak and Michael Gove appeared to indicate that fellow Conservative MPs pushing for tax cuts would have to wait as such measures could fuel runaway inflation

The Independent UK

Transcript of AP interview with President Joe Biden

A transcript of an Oval Office interview Thursday with President Joe Biden by AP White House reporter Josh Boak

Tribune News Service

Stocks get crushed with recession worries mounting: Markets wrap

Stocks tumbled around the globe as recession fears resurfaced, with the Federal Reserve struggling to get on top of inflation that has proved more persistent and widespread than officials anticipated.

WEKU

Despite warnings from economists, Biden says a recession is not inevitable

In an interview Thursday with The Associated Press, the president says the American people are "really, really down" after two years of pandemic, volatility in the economy and surging gas prices.

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