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The Latest Breaking News from Inflation

Bank of England chief warns over ‘apocalyptic’ food price rises

Governor Andrew Bailey said he felt helpless as he defended the Bank’s monetary policy despite soaring inflation.

The Independent UK

Wheat Futures Rise On Exports Restrictions, Russia/Ukraine Crisis, Soaring Inflation: What's Next?

The Teucrium Wheat Fund (NYSE: WEAT) gapped up 3.34% on Monday. The fund, which tracks the price of wheat futures, shot up almost 9% between May 9 and Friday and has soared almost 70% higher since Feb. 3.

Benzinga

House Republicans make case for November victory at roundtable on inflation - Roll Call

House Minority Leader Kevin McCarthy on Monday convened a roundtable to highlight the impacts of record inflation and propose changes.

Roll Call

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Bank of England governor gives 'apocalyptic' warning about food prices due to Ukraine war

Andrew Bailey, the governor of the Bank of England, said he sounded 'rather apocalyptic' about the risk of foods like wheat and cooking oil being produced in Ukraine but unable to get out

Daily Mirror

Bank of England governor warns of ‘apocalyptic’ impact of global food prices

Andrew Bailey admits UK is in a ‘bad situation’ and faces potentially ‘apocalyptic’ food-price increases, as he’s grilled by MPs

The Independent UK

Hungary PM Orban warns of "era of recession" in Europe

Hungarian Prime Minister Viktor Orban on Monday raised the spectre of an "era of recession" in Europe as the continent grapples with surging energy costs and rising inflation due to the war in Ukraine.

Reuters

Greggs price rises are 'inescapable' warns Newcastle food-on-the-go firm's CEO

The company has warned of increasing costs and said customers should expect further price rises as a result

Chronicle Live

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Cost of living crisis: Greggs warns prices of pasties and bakes will rise

The prices of Greggs steak bakes, sausage rolls and other popular items could increase by up to 10p

Manchester Evening News

China’s economic activity collapses under Xi’s COVID Zero policy

China’s economy is paying the price for the nation’s COVID Zero policy, with industrial output and consumer spending sliding to the worst levels since the pandemic began and analysts warning of no quick recovery.

Tribune News Service

Tory MP admits benefits should go up 'immediately' after food bank visit

Michael Fabricant says 'people on the breadline cannot afford to wait'

Wales Online

Concerns raised over Nottinghamshire Fire and Rescue Service finances

There could be a £2m funding gap in its budget next year

Nottingham Post

EU growth forecast cut as war in Ukraine fuels inflation

European Commission downgrades growth prospects from 4% to 2.7%, while economy slows rapidly in China

The Guardian - UK

Tory MP decides he wants benefits raised immediately after visit to food bank

‘People on the breadline cannot afford to wait,’ says Michael Fabricant

The Independent UK

How to save money while not compromising the quality of your shop - these are one food editor's top tips

Inflation has risen at the fastest rate in three decades and experts are warning that cheap food is to become a thing of the past. Here are four simple ways to cut down on shopping bills.

Manchester Evening News

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Benzinga

Morning Brief: Top Financial Stories Dominating on Monday, May 16

CNBC Volkswagen CEO Shares Ambitious EV Ambitions For US Market

Reason

Bad Policy Creates Inflation and Opens the Door to Even Worse Ideas

When politicians break the economy, they hurt us in the short term but also create future opportunities to do harm in the name of undoing the damage they inflicted.

The Canberra Times

Independents success due to 'more insulated' communities, PM says

Prime Minister Scott Morrison has appeared on 7.30pm

Wales Online

Big overspend expected on the £734m South Wales Metro rail project

Wales' major rail electrification of project is being hit by soaring inflation

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WEKU

Eastern Standard Preview for May 19, 2022

From weeks trapped in a basement shelter in the devastated eastern Ukraine city of Mariupol to safety in Lexington: Valery Kaidanov on the odyssey of her 84-year old mother, Vera Lisen. | After inflation is taken into account, state employee wages have declined over a decade. An analysis of a…

The Times of India

Wheat export ban: India's extreme heat wave having ripple effects on world's food supply

NEW DELHI: In a surprise move, the government banned export of wheat, thereby pushing up prices to new record highs.

The Times of India

US at 'very, very high risk' of recession, says Goldman Sachs chairman Lloyd Blankfein

Goldman Sachs senior chairman Lloyd Blankfein urged companies and consumers to gird for a US recession, saying it’s a “very, very high risk.”

Wales Online

Inflation set to hit nine per cent this week - what it means for you

There is no let up in sight in the cost of living crisis

Axios

It's the year 2000 all over again in the economy and financial markets

That has big implications for recession risk as markets nosedive

Axios

The crazy housing market is finally slowing

But rising mortgage rates will continue to put the squeeze on buyers.

Irish Mirror

Could wage increases be on the way as inflation soars? Government told 'Ireland needs a pay rise'

Speaking on Newstalk's Breakfast, Ivana Bacik said the Labour Party agrees with the trade unions that workers must get pay increases that match inflation

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