The Independent says MORE than nine in 10 people have seen their living costs rise over the past month, as the price of food, fuel and energy continues to surge, pushing inflation to its highest level in four decades.
The Metro says TIME IS RUNNING out to spend the last remaining £20 and £50 paper bank notes.
The Guardian says UK INFLATION has increased to 9.1%, the highest rate in 40 years amid record prices for petrol and the soaring cost of food.
The Guardian says the biggest rail strikes in three decades are due to start on Monday night, with trains cancelled across Great Britain for much of the week.
The Guardian says the global rout in stock markets, cryptocurrencies and other risky assets has gathered pace amid growing concern that out-of-control inflation, rising interest rates and slowing growth could combine to tip the world into recession.
Aljazeera says Elon Musk was sued for $258bn on Thursday by a Dogecoin investor who accused him of running a pyramid scheme to support the cryptocurrency.
The Guardian says food price rises in the UK could hit 15% this summer – the highest level in more than 20 years – with inflation lasting into the middle of next year, according to a report.
TRT World says the US Federal Reserve has raised its benchmark interest rate by 75 basis points, marking its biggest rate hike in 28 years.
The Independent says real pay has fallen at a record rate, with public sector workers seeing a particularly big hit to their earnings while bankers toasted “extremely high” bonuses, official figures show.
The Guardian says Average wages in the UK are falling at the fastest rate for more than a decade as annual pay growth fails to keep pace with the rising cost of living.
The Metro says the UK economy could be heading for a recession and the cost of living will rise even higher.
The Guardian says The UK economy unexpectedly shrank in April as soaring energy costs and supply chain disruption dragged down manufacturing amid the cost of living crisis, while the winding-down of the NHS test-and-trace service dragged on growth.
The Guardian says low-paid health and care workers are calling in sick because they cannot afford to fill their cars with petrol to travel to work, the head of the UK’s largest trade union has warned.
The Independent says Britain is on the brink of a painful recession as prices continue to rise rapidly and the economy records zero growth next year, according to new analysis.
BBC News says Rail firms and a major union have both said they want to negotiate to try to avoid strikes that could cause major disruption in June.
The Guardian says concerns have been raised over the City’s influence on Westminster, after a report found financial firms and individuals tied to the sector donated £15m to political parties and gave £2m to MPs during the pandemic.
The Independent says the UK property rental market is shrinking drastically, leading a new report to warn rents could be driven up.
Daily Mirror says Customers of 10 banks including Barclays, Halifax, Lloyds, Nationwide and Monzo have been locked out of their bank accounts this morning.
Sky News says shop prices grew at the fastest rate in more than a decade during May, spurred on by rapidly-accelerating food inflation.
The Guardian says Ministers have cancelled a contract with P&O Ferries after it sacked nearly 800 seafarers without notice in March.
The Daily Mirror says Barclays is closing another 27 bank branches, and will have closed 103 by the end of the year.
The Guardian says the average price of a UK home has topped £250,000 for the first time, but the proportion of sellers reducing their asking price and the time taken to sell a home have both increased, according to Zoopla’s latest market index.
The Guardian says Rishi Sunak will push the button on a controversial windfall tax on energy companies on Thursday, as he lays out measures to ease the pain of rising household bills.
The Independent says Average asking prices for UK properties have jumped £55,000 since the start of the pandemic, with no slowdown in the “frenetic” market despite the cost of living crisis, new figures show.
A handful of millionaires attendees gathered in Davos are calling on world leaders to push tax up higher for wealthy people (like themselves) to tackle the cost of living crisis.
The Guardian says Boris Johnson hopes to blunt calls for urgent action on the cost of living crisis by stressing that work is the best route out of poverty, as an energy firm boss warned that 40% of households could soon be in fuel poverty.
The Guardian says consumer confidence in the UK has fallen to the lowest level since records began in 1974 amid growing concern over the cost of living crisis.
The Independent says the director of a multi-million dollar ad campaign for a bitcoin exchange has said he has “no idea how cryptocurrency works” after being questioned about the recent market crash.
BBC Sport says ministers are facing growing calls to bring forward large increases in benefits and the state pension which will be paid from next April.
The Guardian says UK inflation soared to 9% in April – its highest level for more than 40 years – as the rising cost of gas and electricity pushed household energy bills to record levels.
The Guardian says the Bank of England governor has warned that “apocalyptic” food prices caused by Russia’s invasion could have a disastrous impact on the world’s poor.
The Guardian says Elon Musk has suggested that he could seek to pay a lower price for Twitter, as the social media company’s would-be owner expressed further concerns about the presence of fake accounts on the platform.
BBC News says some of the poorest households in England and Wales are struggling to access council tax rebates to help offset their soaring energy bills, a charity has warned.
Fast food giant McDonald’s has announced it will permanently leave Russia after more than 30 years and has already started selling its restaurants there.
Daily Mirror says Holidaymakers who had booked a P&O Cruises holiday to the Canary Islands were left disappointed when the firm isolated them for hours without enough food, heat or seating
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