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The Latest Breaking News from Inflation

Asda boss warns food prices will soar even higher and Tories must do more to help

Tory peer Lord Stuart Rose said prices 'are going to go higher' than 6%, will stay high 'for quite some time', and even he will be making choices about what he does and doesn't buy

Daily Mirror

Tensions over cost of living surface, as Kwarteng sets face against ‘arbitrary’ windfall tax on energy firms

Asda boss warns government has been ‘slow’ to react to rising prices

The Independent UK

Policymakers need data about us despite privacy fears

Governments need accurate and detailed information about citizens to tackle anything from Covid to climate change

The Guardian - UK

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Turkish police detain dozens in May Day demonstrations

Turkish riot police detained dozens of protesters trying to reach Istanbul's main Taksim Square for May Day demonstrations against economic hardship caused by raging inflation.

Reuters

Asda boss issues statement on the rising cost of food

The grocer's chairman Lord Rose was interviewed on Sunday morning

Wales Online

This is where inflation runs hottest in America. Just ask voters

Few places in the U.S. have felt the sting of inflation like Arizona’s largest city, Phoenix, an unwelcome problem for Democratic Sen. Mark Kelly as he wages a reelection bid that is crucial to his party’s efforts to keep control of Congress.

Tribune News Service

HDFC raises lending rate by 5 basis points; EMI to rise for existing borrower

NEW DELHI: Mortgage lender HDFC Ltd on Sunday raised its benchmark lending rate by 5 basis points, a move that will increase EMI for existing borrowers.

The Times of India

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Republicans return to politics of immigration as midterm strategy

Hearings with homeland security secretary about the US-Mexico border also revealed rifts within Democrat ranks

The Guardian - US

A gloomy May Day awaits Nigerian workers

Imagine you live alone and walk into a local food market in Lagos, the Nigerian commercial capital, to buy a week’s worth of basic food items. In less than 15 minutes, you would find that you’ve spent at least 10,000 Naira (or US$24 at the official exchange rate of US$1…

The Conversation

Nigerian workers struggle as cost of living outstrips incomes

Food inflation in Nigeria increased by 15% during the 11 months from April 2021 to March 2022, adding pressure on the cost of living for salary earners whose incomes have not risen for close to three years.

The Conversation

Australian opposition targets inflation in campaign launch

Australia’s opposition party has officially launched its election campaign with an emphasis on cutting costs of living for voters as inflation surges to its highest rate in 21 years

The Independent UK

Economic downturn likely, the Institute of Directors warns

Cost of living crisis, inflationary pressures and uncertainty about Ukraine mean the UK’s pandemic rebound is running out of steam

The Guardian - UK

Scotland suffering 'cost of living with Westminster crisis' amid stark Brexit report

SCOTLAND is suffering a “cost of living with Westminster crisis”, it has been claimed, after stark reports revealed the full impact of Brexit on…

The National (Scotland)

Cost of living crisis: PM's proposals to help drivers and parents cut back on costs

Liverpool Echo

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The Guardian - AU

Coalition criticises Labor’s housing policy because government could profit from price rises

Scott Morrison argues Labor is ‘looking to make money out of this’ as Anthony Albanese pledges to cut cost of some mortgages by up to $380,000

Bangkok Post

Argy-bargy on wages

Being paid 340 baht a day, according to Suthichai Pongpinijkul, 26, is not a sufficient wage to live on.

The Independent UK

Profit warnings surge as cost inflation hits UK firms

A record 43% of listed companies who warned prices could be lower than anticipated said it is due to rising costs.

ABC News

Fees for university arts courses rise '113 per cent' as education drives inflation surge

Students in the arts and humanities are paying up to 113 per cent more for their university courses as the economic impact of the federal government's changes to fees kicks in, adding another layer of stress for students.

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The Independent UK

Treasury gamble on households spending their pandemic savings to survive the cost of living crisis

Exclusive: Government has withheld financial support for squeezed households, thinking they could rely on savings, Whitehall sources say

Tribune News Service

Paying for Harvard just got cheaper with decades-high inflation

Parents paying the full cost of Ivy League tuition bills are getting a little relief — and they can thank inflation.

The Times of India

Himachal Pradesh CM takes decision only after receiving call from BJP national president: Congress

SHIMLA: Himachal Pradesh Congress election campaign committee chairman and screening committee member Sukhwinder Singh Sukhu has made a scathing attack on chief minister Jai Ram Thakur led government. He said that present government has discriminated against Hamirpur in the matter of development.

Asharq Al-Awsat

Turkey’s Trade Deficit Widens Amid Efforts to Attract Hard Currency

Turkey’s trade deficit surged 75% year-on-year in March to $8.17 billion, mainly due to a 30.7% rise in imports, data showed on Friday. According to the Turkish Statistical Institute, exports climbed by 19.8% to nearly $22.71 billion versus imports of around $30.88 billion. Turkey has launched a new economic program…

The Guardian - US

‘What am I going to do?’: soaring prices fuel calls for US government to step in

Large corporations are passing on higher-than-needed price increases to customers under the cover of inflation, war and supply chain squeezes, experts say

The Guardian - AU

Coalition pledges to cut medication costs; 53 Covid deaths – as it happened

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Tribune News Service

Loan forgiveness starting at $10,000

WASHINGTON — The White House is considering forgiving at least $10,000 in student loans per borrower through executive action, according to people familiar with the matter, with momentum increasing as President Joe Biden seeks ways to bolster voter enthusiasm ahead of the November midterms.

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