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The Latest Breaking News from Inflation

Govt allows duty-free import of 20 lakh tonnes per year of crude soyabean, sunflower oil

NEW DELHI: The government on Tuesday exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soyabean and sunflower oil, to ease domestic prices.

The Times of India

Slumping technology stocks pull Wall Street lower

Stocks fell in afternoon trading on Wall Street Tuesday, weighed down by a big decline in tech heavyweights over concerns about persistently rising inflation and its impact to their bottom lines

The Independent UK

Americans nearing retirement are unsettled by stock market’s slump, with some choosing to keep working

The skid has financial planners hearing more from anxious clients, some pushing back their retirement in hopes that will buy time for their investments to bounce back.

Chicago Sun-Times

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Unions angered by No 10 remarks about public sector pay stoking inflation

TUC says suggestion that higher pay for workers this year will push up inflation is ‘nonsense’

The Guardian - UK

45 holiday destinations that are now cheaper for UK travellers despite inflation

The UK's currency is now doing better in some countries.

Daily Record

Inflation impact: Pricey palm oil dents Manapparai murukku trade

Manufacturers are hit by shortage in supplies and increased cost

The Hindu

State Pension could rise by £1,000 next year as inflation soars

The new state pension amount could break the £200-per-week mark for the first time

Chronicle Live

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Data | Rural inflation peaks across States, except in Tamil Nadu and Kerala

The high prices of food and beverages was one of the primary drivers of rural inflation and within it, the prices of vegetables, oils and fats, and meat and fish increased the most

The Hindu

Public sector workers facing pay restraint as ministers warn of ‘inflationary spiral’

Ministers can overrule recommendations of independent pay bodies for teachers, police and NHS

The Independent UK

Wagamama owner warns food and drink inflation could hit 10%

The Restaurant Group says it still expects to meet full-year profit forecasts despite surge in costs

The Guardian - UK

Argentine bills strain wallets (literally) amid inflation drain

Argentine peso bills, devalued by years of inflation now soaring near 60%, are starting to cause a literal strain on wallets - with the largest banknote in circulation worth under $5 in commonly used exchange markets.

Reuters

Ministers warn over inflationary public sector pay awards

Ministers have warned that awarding public sector workers with big pay rises this year could fuel already spiraling inflation.

Evening Standard

Nio To Invest $32M Toward Vertical Integration Of Battery Manufacturing: Report

Nio, Inc. (NYSE: NIO) is pursuing vertical integration amid the supply crunch and input price inflation.

Benzinga

Stock market slump unsettling Americans eying retirement

Americans on the cusp of retiring are facing a tough choice as they watch their nest eggs shrink: Stay the course or keep working

The Independent UK

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Bangkok Post

Inflation still low 'compared with others': Arkhom

Thailand's inflation is still relatively low and manageable as the economy recovers gradually and more foreign tourists return, the finance minister said on Tuesday.

The Independent UK

Johnson focuses on inflation battle as Cabinet face PM lockdown photo questions

Senior ministers were asked whether the Prime Minister had let them down after a picture of him at a leaving do in November 2020 emerged.

Reuters

L'Oreal CEO says no inflation impact so far on beauty product consumption

French cosmetics group L'Oreal is not so far seeing any impact from inflation on purchases of beauty products, its chief executive told Reuters on Tuesday.

Chronicle Live

Supermarket items rising the fastest in price revealed in new research

Inflation has been rising with the Bank of England expecting it to hit a staggering 10%

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The Guardian - UK

More than a fifth of Britons struggling as grocery price inflation hits 13-year high

Nine in 10 people say they are worried about rising price of shopping, Kantar survey finds

Bangkok Post

Indonesia holds key interest rate but reins in banks

JAKARTA: Indonesia's central bank on Tuesday announced more aggressive hikes in the reserve requirement ratio (RRR) for banks, expecting inflation to rise slightly above its target band this year, but kept interest rates unchanged at a record low.

Axios

Larry Summers' new inflation target: Biden's "hipster" antitrust policies

Larry Summers is criticizing BIden's antitrust police on inflation, including the FTC and DoJ.

Chronicle Live

BT customers start noticing price rises on broadband bills as inflation soars

Some customers have reported a significant monthly price hike

Daily Mirror

Supermarket items rising in price revealed as food inflation hits highest level in 13 years

Prices are going up off the back of increased costs for food producers, including energy and fuel. The war in Ukraine is also pushing up costs, with Russia being one of the key suppliers of wheat and fertiliser

Asharq Al-Awsat

Saudi Finance Minister Expects 7.4% Growth in 2022

Saudi Finance Minister Mohammed al-Jadaan announced that the Kingdom expects a 7.4 percent growth in 2022. Speaking at a panel on the economic outlook for the MENA region at the World Economic Forum in Davos (WEF), Jadaan explained that Saudi oil GDP would grow 19 percent this year due to…

The Guardian - AU

Labor’s jobs summit to focus on pay deals and productivity in bid to lift wages

Expert says collective bargaining is a ‘minefield’ for employers and simplifying it should be a focus of the forum

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