5 things to know for May 12: Ukraine, Abortion, Inflation, Overdoses, California fire

Here’s what you need to know to Get Up to Speed and On with Your Day. (You can get “5 Things You Need to Know Today” delivered to your inbox daily. Sign up here.) 1. Ukraine Finland’s president and prime minister have announced their support for joining NATO, moving the Nordic nation — which shares … Read more

Poilievre says he would remove Bank of Canada Governor if he forms government

Candidate Pierre Poilievre makes a point at the Conservative Party of Canada English leadership debate in Edmonton, on May 11.Jeff McIntosh/The Canadian Press Conservative leadership candidate Pierre Poilievre said he would remove the Bank of Canada Governor if he forms government, a breach of the convention that separates the central bank from elected politics. Mr. … Read more

High inflation points to bigger Social Security COLA in 2023

Joe Raedle | Getty Images News | Getty Images Social Security beneficiaries could see another record cost-of-living adjustment in 2023, based on the latest government data showing persistent high inflation. But that increase may not be enough to pare the loss in buying power recipients have experienced over the years, according to a new analysis … Read more

Inflation dips slightly to 8.3% but remains near four-decade high

InflationĀ in the US hit 8.3 percent in April, falling slightly from the four-decade high it reached in March and breaking a streak of seven consecutive monthly increases in the annual rate of price increases. The latest inflation report marks a mixed bag of news for consumers, showing that grocery prices are rising at their fastest … Read more

Albanese’s bold move on wage rises leaves Morrison tiptoeing along an extremely delicate line

Even a stopped clock tells the time twice a day, and it is presumably due to a similarly randomized inevitability that the ambient theme of the campaign today was wages and the escalating cost of keeping body and soul together – something that real people actually care about. Huzzah! Albanese’s decision yesterday to put a … Read more

London pre-open: Stocks seen up ahead of US inflation data

London stocks were set for a positive open on Wednesday as investors eye the latest US inflation reading. The FTSE 100 was called to open 33 points higher at 7,276. CMC Markets analyst Michael Hewson said: “After a strong start yesterday, European markets gave back a lot of their early gains, although they still managed … Read more

Kudlow: This is responsible for most of the rise in gas prices – Fox News

Kudlow: This is responsible for most of the rise in gas pricesFox News Price spikes at the pump could ‘fizzle out’ after a few days: GasBuddy analystFox Business Stock plays to take advantage of higher gasoline pricesBNN Bloomberg Consumers lining up here for cheaper gasFox Business Gas prices are headed ‘substantially higher,’ says Goldman Sachs’ … Read more

China’s consumer prices climb as Covid prompts food stockpiling

Fresh vegetable prices rose by 24% year-on-year in April as consumers stocked up to prepare for potential stay-home orders. Pictured here is a delivery driver for Alibaba’s Hema Fresh supermarket in Beijing on May 10, 2022. Jade Gao | Afp | Getty Images BEIJING – China’s consumer and producer prices rose more than expected in … Read more

Biden says White House could drop Trump China tariffs to lower consumer prices

President Joe Biden said he could drop some of the tariffs imposed against Chinese imports to help control rising consumer prices in the US – just as Wall Street braces for another inflation report north of 8%. The White House is reviewing the penalties imposed under former President Donald Trump – which raised prices on … Read more

Inflation outlook for consumers falls from record, Fed survey shows

A worker stocks items inside a grocery store in San Francisco, California, May 2, 2022. David Paul Morris | Bloomberg | Getty Images Consumers grew a little more optimistic about inflation in April, though they still expect to be spending considerably more in the year ahead, a Federal Reserve survey released Monday shows. Inflation expectations … Read more