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The Latest Breaking News from Inflation

Emergency DWP cash boost of £700 proposed from end of June for people on Universal Credit

Three options are being discussed, the other two being increasing work allowances back to their 2015 levels or bringing back a £20 a week uplift

Liverpool Echo

Consumers defy inflation to support economy. For how long?

With prices across the economy soaring at their fastest pace in decades, you might think Americans would tap the brakes on spending

The Independent UK

DWP Universal Credit claimants could get £700 emergency cash boost from end of June

The move would mean 4.2 million households would gain an average of £729 a year

Nottingham Post

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DWP emergency £700 cash boost proposed from end of June for those on Universal Credit

Other options put forward include bringing back the £20-a-week uplift paid during the pandemic

Chronicle Live

The food crisis is what happens when global chains collapse. We might need to get used to it

War in Ukraine is the latest threat to the whole intellectual edifice of globalisation

The Guardian - UK

Fear of 12% interest on student loans will put many off university, top Tories warn

Inflation-linked rise will deter poorer school-leavers from entering higher education in England and Wales, say former ministers

The Guardian - UK

Petrol, diesel to be cheaper from today in Gujarat

AHMEDABAD: Providing relief to consumers and industry reeling under high fuel prices and inflation which is at a multi-year high, prices of petrol and diesel will reduce a bit from Sunday.

The Times of India

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Gap between inflation rates for richest and poorest households at its widest in 16 years

With the poorest disproportionately hit by the cost of living crisis, senior Tories are demanding emergency action from Treasury

The Guardian - UK

French debt levels back in focus as government gets to work

France’s new government reaffirmed the country’s pledge to lower debt after the COVID-19 pandemic forced President Emmanuel Macron to carry out an unprecedented spending splurge to prevent the economy from crashing.

Tribune News Service

Cost of living gap between rich and poor is highest on record – report

Experts say that low-income families are 'at the sharp end of the squeeze'

Wales Online

Boris Johnson believes help for families would 'shovel cash to appease bleeding hearts'

Boris Johnson is reportedly resisting the idea of spending a windfall tax on energy firms on giving immediate help to families with the cost of living crisis, because it would be "here today and gone tomorrow"

Daily Mirror

More children to be pushed into poverty in city-region without government intervention, study says

The research comes as the cost of living crisis continues to hit families across the region.

Manchester Evening News

Off Target?

There was reason for optimism earlier in the week as the S&P 500 (SPY) advanced nicely after skirting bear market territory. But then on Tuesday WalMart had shockingly poor earnings which was easily ignored. Unfortunately the next day Target reported even worse results and the investment world took notice with…

StockNews.com

The Bank of England fears worker power, but most are taking a real-terms pay cut

Conditions have improved for a select few but on wages and flexible hours, the trend for employees is generally backwards. Can the rate-setters grasp that?

The Guardian - UK

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Daily Mirror

Sex Pistols drama charts rise and fall of punk band who mocked the Queen at Jubilee

They may have only last two and a half years before self-destructing but decades on the Sex Pistols' punk legacy lives on in an era eerily similar.

The Independent UK

Hundreds of staple grocery items cost 20 per cent more than they did in 2020, study finds

The availability of own-label budget ranges has also fallen

The Guardian - UK

What do Elon Musk and Jeff Bezos have in common? An unhealthy Twitter habit

They are two of the world’s richest people, and both are obsessed with space travel, but they use social media for very different reasons

The Guardian - UK

Iain Duncan Smith calls for benefits to rise in line with inflation

Tory MP says immediate increase in universal credit would provide ‘shield’ against cost of living crisis

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The Guardian - UK

Apocalypse now? The alarming effects of the global food crisis

The Bank of England governor warned last week of ‘apocalyptic’ food price rises. Yet war in Ukraine, climate change and inflation are already taking their toll all over the world

The Conversation

Election results update: Labor to form government as both major parties' primary votes slump

This article was updated on Sunday morning.

The Conversation

Albanese wins with a modest program – but the times may well suit him

Labor’s successful bid for government – only its fifth victory from opposition since the first world war – was based on an experiment that no one could have known would work.

The Independent UK

Iain Duncan Smith calls for benefits to be boosted in line with inflation

The former Tory leader said a raise in benefits would provide a ‘shield’ against the sting of mounting living costs

Evening Standard

Tory peer who helped set up Universal Credit calls for benefits boost

Baroness Philippa Stroud has also called for the £20 uplift to be restored having previously warned that its removal would plunge thousands into poverty

Salon

Billionaire bros turn on Biden

Both Bezos and Musks have curiously found their political voices at the same time — just as labor forces take hold

Reuters

UK government must help poor now, says senior Conservative lawmaker

Britain's Conservative government needs to take measures now to help those most effected by a worsening cost-of-living crunch, former party leader and senior lawmaker Iain Duncan Smith said on Saturday.

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