Evidence – And an Explanation – For the Recent Surge in Inflation Inequality

Lambert here: Prices rise because firms raise them. By Kunal Sangani, PhD student in Business Economics Harvard University. Originally published at VoxEU. Families across the UK are struggling with inflation. This column asks whether low-income households have been disproportionately affected, using micro-data on food products to examine the rate of inflation for different income groups. … Read more

Sen Blackburn calls for investigation into allegation controversial UN agency employee kept Israeli hostage

EXCLUSIVE – Sen. Marsha Blackburn, R-Tenn., demanded an investigation into allegations that a controversial United Nations agency’s employee detained one of the hostages kidnapped by Hamas during the Oct. 7 attack on Israel.  “The United States will not be complicit in propping up Hamas’ terrorism, and this report further proves why deep change is necessary … Read more

Today’s markets: Bitcoin is 150% up, gold flirts with new record

Investors are eyeing good news from the US economy while concerns of a broader Israel-Hamas war temporarily pushed the price of gold to new levels. ADVERTISEMENT Bitcoin has reached almost $42,000 as it rides a wave of momentum on expectations about US interest rate cuts and as traders anticipate the imminent approval of US stock … Read more

UK inflation highest for mortgaged households

Stay informed with free updates Simply sign up to the UK inflation myFT Digest — delivered directly to your inbox. Rising borrowing costs mean UK households with mortgages were hit by higher inflation than any other household group in September, according to official data that lays bare the uneven impact of the cost of living … Read more

Puka Nacua’s record-breaking effort helps Rams topple Browns

The ground was closer than Puka Nacua expected. Much harder, too. The Rams’ rookie wide receiver was able to fend off dehydration-related cramps to return during the second quarter of their game against Cleveland on Sunday, but it appeared his return would be brief when he fell with a thud after making an exceptional catch … Read more

Melbourne woman launches into wild rant over tram fare

Wild footage has captured the moment a woman ranted and swore at another commuter after a disagreement over whether she swiped her travel card on a Melbourne tram. In a video posted to Instagram account ‘browncardigan’ on Sunday, a woman dressed in all black is seen approaching a younger female who is seated quietly on … Read more