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The Latest Breaking News from Inflation

7 plans Rishi Sunak may have for your wallet after fury at cost of living 'dithering'

A business chief blasted 'what are we waiting for?' after Chancellor Rishi Sunak said 'the next few months will be tough' at a CBI dinner - and sources briefed out a flurry of unconfirmed tax changes

Daily Mirror

Philippines raises rate for first time since 2018

The Philippine central bank raised its key interest rate for the first time since 2018 to combat Southeast Asia’s second-fastest inflation.

Bangkok Post

Helping cash-strapped Britons won’t add to inflation, says CBI

Chief of business association calls for stimulus that aids ‘hardest hit’ with rising food and fuel bills

The Guardian - UK

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Minister orders police not to ignore shoplifters just because they are starving

Police forces had been advised to use discretion on whether to prosecute people during the cost of living crisis

Wales Online

Don’t ignore shoplifters, minister says, after watchdog urges ‘discretion’

Policing minister Kit Malthouse says officers should not turn a blind eye to stealing during the cost-of-living crisis.

The Independent UK

Partygate: Boris Johnson ‘told barefaced lie’, says Labour, as Covid victim group urges Tory MPs to remove PM – as it happened

PM told he won’t be fined again; Sue Gray report to be published ‘as soon as possible’; Emily Thornberry says PM lied to Commons; victim group reacts

The Guardian - UK

Inflation hits small firms: ‘Covid was a walk in the park compared to this’

As inflation hits 9%, four English businesses explain how they are negotiating soaring prices

The Guardian - UK

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House prices: Will rising interest rates cause a property market crash?

House prices jumped 9.9 per cent in the year to March 2022. With interest rates increasing, is a crash on the way?

The Independent UK

Global economy loses $1.6 trillion as world struggles to avoid a new cold war

LONDON: The ties that bind the global economy together, and delivered goods in abundance across the world, are unravelling at a frightening pace.

The Times of India

Royal Mail warns stamp prices will go up AGAIN amid cost of living crisis

The Royal Mail said rising inflation means it will have to hike its prices beyond those announced last month, worsened by the fact that Brits are sending more parcels and fewer letters

Daily Mirror

Police should use 'discretion' on shoplifters amid cost of living crisis

Andy Cooke, HM chief inspector of constabulary, said petty crime fuelled by the cost-of-living crisis would pose a challenge for policing as more people fall into poverty

Daily Mirror

Asian shares track Wall Street's inflation-fueled retreat

Shares are sharply lower in Asia after a broad retreat on Wall Street

The Independent UK

FTSE 100 slide as recession fears weigh on markets – as it happened

Rolling coverage of the latest economic and financial news, as European stocks drop after Wall Street’s worst day since 2020

The Guardian - UK

Police should use 'discretion' over prosecuting people stealing to eat in cost of living crisis, says top cop boss

Andy Cooke said he expects to see a rise in petty crime

Manchester Evening News

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The Hindu

India, fastest-growing major economy, projected to grow 6.4% in 2022: U.N.

The global economy is now projected to grow by only 3.1 per cent in 2022, down from the 4.0 per cent growth forecast

Asharq Al-Awsat

G7 Finance Ministers to Thrash Out Ukraine Aid Plan

G7 partners meet Thursday hoping to find a solution for Kyiv's budget troubles as the fallout from Russia's invasion of Ukraine continues to roil the global economy. Finance ministers from the Group of Seven industrialized nations are holding talks in Koenigswinter in western Germany to coordinate their response. "The bilateral…

Daily Mirror

Six things the Government is NOT doing to help Brits with cost of living crisis

Professor Richard Murphy says politicians are doing almost nothing to help people who are struggling because they believe the market can solve a problem better than anything the government can do

The Guardian - UK

Thursday briefing: Why we don’t have to balance the books

In today’s newsletter: As inflation hits a 40-year high of 9%, Archie Bland explores the causes of the crisis, and the potential solutions left out of the debate

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The Times of India

India, fastest-growing major economy, projected to grow 6.4% in 2022: UN

UNITED NATIONS: As the Ukraine conflict impacts the global GDP, India is projected to grow by 6.4 per cent in 2022, slower than the last year's 8.8 per cent but still the fastest-growing major economy, with higher inflationary pressures and uneven recovery of the labour market curbing private consumption and…

Newsroom.co.nz

One step forward or two steps back? MPs react to budget

A polarising Budget saw strong debates in Parliament this afternoon, as MPs from both ends of the political continuum laid out how they would have done things differently

Wales Online

Chancellor calls for business to invest and innovate to boost long-term prosperity

Rishi Sunak tells CBI that he stands ready to help families cope with the impact of rising inflation, but companies can do more to offset country's economic woes

AAP

NZ opposition savages 'backwards' budget

New Zealand's opposition says rising inflation will see Kiwis migrate to Australia, as it slams the government's fifth budget as "backwards".

The Independent UK

What the papers say – May 19

The threats of rising inflation and the cost of living continue to feature on the front pages.

The Independent UK

Boris Johnson - live: PM to face no further fines, as police end Partygate probe

Follow the live updates below

Daily Record

Winter coming with deathly chill as UK taken deep into the valley of poverty

Record View says what has been in terms of austerity in the last decade will have nothing what's to come.

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