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The Latest Breaking News from Inflation

What are the biggest challenges for Macron’s second term?

Emmanuel Macron pulled off an impressive feat as he became the first French president in 20 years to win a second term in office – in face of fierce antipathy amongst large numbers of voters on the left and, in even bigger numbers, to his right. Macron will have to…

France 24

Australia’s prices surge at fastest pace in two decades

Soaring prices come as Prime Minister Scott Morrison fights a tough election campaign.

Al Jazeera

Treasurer Josh Frydenberg blames rising inflation on COVID-19, war in Ukraine

The Federal Treasurer Josh Frydenberg is blaming international volatility for Wednesday's inflation figures, which show the sharpest rise in cost-of-living pressures in more than two decades.

ABC News

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Post-Brexit trade barriers increase price of food imported from EU – report

Thinktank finds ‘clear and robust impact’ of Brexit on rising food prices, adding to cost of living crisis

The Guardian - UK

Winners and losers as DWP moves 2.6 million Brits to Universal Credit

The massive shake-up will begin on May 9 this year

Liverpool Echo

‘I’m alive, and that’s it’: rising cost of living puts pressure on people already struggling

Australia’s largest annual rise in inflation for decades compounds the suffering for those hit by the national rental crisis

The Guardian - AU

Labor promises crackdown on multinational tax avoidance would bring almost $2 billion in revenue

Labor has laid out its economic plan for the next term, saying it will focus on lifting wages, cutting wasteful spending and a crack down on multinational tax avoidance that would add almost $2 billion to government coffers.

ABC News

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Australia faces prospect of pre-election rate rise as inflation and consumer prices soar

Annual CPI rate rise to 5.1% was higher than expectations and reflects higher fuel and food costs, sparking fears of an interest rate rise

The Guardian - AU

Just 46 days in office, Chile’s leftist leader runs into trouble

Hailed as the face of a new Latin American left, Chile President Gabriel Boric was not only elected in a landslide, he embraced a constitutional rewrite to turn his nation from a neoliberal mining power into a model of humane green development.

Tribune News Service

Russia’s war on Ukraine heats up cooking oil prices in global squeeze

Global cooking oil prices have been rising since the COVID-19 pandemic began, and Russia’s war in Ukraine has sent costs spiraling, another rising cost as inflation soars.

Chicago Sun-Times

Teachers stage walkout of Sydney school ahead of visit by NSW Premier Dominic Perrottet

Tensions between the NSW government and its public school teachers reached a flashpoint this morning when 40 teachers walked out of a Sydney school moments before the arrival of Premier Dominic Perrottet.

ABC News

Brexit has caused UK food prices to rise 6% as cost of living crisis deepens, study says

Trade friction has ‘clear and robust’ impact on supermarket prices, say economists

The Independent UK

Food bank demand soars in pandemic with 830,000 parcels given to children as ‘life is nothing but struggle’

‘I have days when I’ve not even wanted to be here anymore because I don’t feel I can face life now,’ one new food bank user says

The Independent UK

Alphabet revenue falls short as YouTube and TikTok battle for users

Supply issues, inflation and war in Ukraine fuel Google parent company’s first-quarter struggles

The Guardian - US

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Evening Standard

Meal kit business Gousto says inflation won’t derail rapid growth

The boss of London-based meal kit subscription business Gousto believes his business can keep growing rapidly despite the soaring inflation that is squeezing customer budgets and putting up his costs.

StockNews.com

How Higher Rates Could Continue to Negatively Impact the Market

Last week, we noted that the S&P 500 (SPY) was "leaking" lower, but there were still some pockets of strength. Well this past week, those pockets of strength also got crushed. The bull case has been that the economy would be strong enough to withstand the negative effect of higher…

Liverpool Echo

Tesco confirms major change to Clubcard points and vouchers system

The supermarket's popular Clubcard system is undergoing a shake-up which will come into effect next month

The Independent UK

How should Joe Biden and Democrats address inflation before November? Experts respond

If president can’t get control of inflation and help working families, ‘Trump will have a certain “I told you so” vote’ in 2024

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The Guardian - AU

Labor says households face ‘triple whammy’ after CPI shock – as it happened

This blog is now closed

Tribune News Service

Teacher salaries dropped to lowest in decade during pandemic

As teachers navigated the daunting task of shepherding students through a public health and education crisis, their average pay dropped to the lowest in at least a decade.

Tribune News Service

Senate confirms Brainard as Fed vice chair but COVID-19 trips Democrats on Cook vote

The Senate voted 52-43 Tuesday to confirm Lael Brainard, a member of the Federal Reserve board, to become vice chair, but fell short of the votes needed to move forward with Lisa Cook’s nomination to join the board.

Bangkok Post

Tisco sounds recession alarm on Fed interest rate hikes

The Federal Reserve could raise interest rates to 3.5% by the middle of next year to curb spiralling inflation, tipping the world economy into a recession, according to the Economic Strategy Unit of Tisco Financial Group (Tisco ESU).

The Guardian - AU

Morning mail: rent increases outstrip government assistance, inflation set to hit 4.5%, life-drawing’s new era

Wednesday: Rental prices rise by up to 20.2%, while rent assistance increases only 4.5%. Plus: how life drawing became more inclusive

ABC News

The Loop: New country could be flashpoint in Ukraine war, inflation figure warning, and wholesome NBA moment

Here's your TL;DR for this morning's news.

Liverpool Echo

Primark warns shoppers ahead of changes to its autumn and winter clothes

The fashion retailer has warned it will increase costs on its autumn and winter collection

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People

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