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Inflation jumps to 4.6% in Australia as Iran war fuel shock begins to bite

about 23 hours ago
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Inflation jumped to 4.6% in the year to March, from 3.7% the month before, in what the treasurer, Jim Chalmers, warned was the start of an Iran war-linked fuel shock that will ripple through the economy over coming months.With consumer prices now growing at their fastest pace in two and a half years, financial markets and experts are betting the Reserve Bank will hike interest rates for a third straight meeting next Tuesday as officials struggle to manage the nightmare scenario of containing inflation even as growth is expected to slow sharply.The treasurer ahead of next month’s budget said “inflation is likely to peak higher than this”, even as he reassured Australians that the economy was well placed to navigate the fallout from the war.

“We’ve got low unemployment, we’ve got solid wages growth, and so we’ve got pretty good foundations as we confront this period of heightened uncertainty in the global economy,” he told reporters in Brisbane,The international oil price pushed back above $US110 a barrel overnight amid dimming hopes of an end to the US-Israel-instigated conflict that has closed the strait of Hormuz, a critical artery for the global flow of oil and other key commodities such as fertiliser,Fuel costs jumped by 33% in the month, according to the latest figures from the Australian Bureau of Statistics, although this was before the 26 cent cut to the petrol excise,Removing the impact of the large price swings – electricity prices were also up sharply on a year earlier as government rebates expired – showed underlying inflation was steady at 3,3%, an encouraging sign that inflationary pressures beyond the bowser eased in March.

Traders in response trimmed bets of an RBA rate hike next Tuesday to 68%, from 80% before the latest figures, according to NAB.But Josh Williamson, the chief economist at Citi, said the inflationary “headache” was “about to become a migraine”.Williamson said inflation would push towards 5.5% by the middle of the year as soaring fuel costs flow through to sectors such as construction and food services.“The RBA faces a difficult decision, but the persistence of these price shocks necessitates further tightening to manage inflationary expectations,” Williamson said.

The latest figures confirmed cost of living will be at the top of the government’s agenda in the 12 May budget,Rents increased by 3,7% over the year – faster than wage growth – while homebuilding costs were up 4,5% and likely to accelerate in the months ahead,Electricity prices dropped in March, but were 25% up on a year earlier when governments were subsidising power bills, the ABS data showed.

Labor has already halved the fuel excise for three months and announced a GST rebate on petrol and diesel that has helped cushion the blow on motorists from soaring pump prices,Economists, however, warn that further untargeted cost-of-living support risks complicating the RBA’s battle to bring price pressures back under control,Luke Yeaman, the Commonwealth Bank’s chief economist and a former senior Treasury official, said he expected the budget to include “some additional support for households”,“But we expect the government to resist the urge to make a big splash,This would risk adding fuel to the inflation fire and heap pressure on the RBA, at a time when the outlook is still very uncertain.

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Obesity a key factor for rising cancer rates in young people in England, study finds

Obesity is a key factor for the rising rates of cancer among younger people in England, according to a study.There are 11 types of cancer, including bowel and ovarian cancer, that are increasing among people aged 20 to 49 between 2001 and 2019, according to analysis by researchers from the Institute of Cancer Research and Imperial College London.Obesity is the only known behavioural risk factor that has been increasing in younger adults over this period, while more established risks such as smoking, alcohol, red meat and physical inactivity have all remained stable or in decline in England.This led researchers to conclude that the increase in obesity was a key factor behind the rising rate of cancer cases. Excess weight was associated with 10 of the cancers identified, including thyroid, kidney and pancreatic cancer, with oral cancer being the only exception

about 17 hours ago
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Stress from racism may help explain why black women more likely to die in childbirth, study finds

Stress from racism and deprivation could explain why black women are more likely to die during childbirth, a study has found.Researchers reviewed 44 existing studies that examined three physiological pathways associated with worse pregnancy outcomes: oxidative stress, inflammation, and uteroplacental vascular resistance, and found black women had higher levels of the three metrics.Such physiological differences are not the result of genetic differences, according to the researchers, but rather suggest that socioenvironmental stressors such as systemic racism and deprivation, which are known to have a measurable biological effect, may influence the body’s ability to function healthily during pregnancy.Grace Amedor, of the University of Cambridge, the first author of the peer-reviewed study published in the journal Trends in Endocrinology and Metabolism, said: “Pregnancy and childbirth put great stress on a woman’s body. Black women may experience additional strain due to factors including systemic racism, socioeconomic disadvantage and environmental stressors

about 19 hours ago
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Earlier specialised care could prevent 10,000 miscarriages a year, UK study finds

Giving women access to specialised care after their first miscarriage could prevent about 10,000 pregnancy losses a year across the UK, according to a study.Currently, women in England, Wales and Northern Ireland are eligible for specialist care on the NHS for early baby losses after they have had a minimum of three miscarriages.The charity Tommy’s has called for women to be eligible after one miscarriage, stating this could reduce the risk of future miscarriages and improve health outcomes for mothers.The graded model of miscarriage care proposed by Tommy’s is already available in Scotland and the charity is calling for its implementation across the whole of the UK.A study by Tommy’s National Centre for Miscarriage Research and Birmingham women’s hospital involving 406 women found a 4% reduction in the risk of future miscarriage for women on the graded model of care compared with the usual care, which would translate to a reduction of 10,075 miscarriages a year across the UK

about 21 hours ago
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Public toilets: more than a matter of convenience | Letters

In response to your editorial (Public spaces need public conveniences, 24 April), our research has found that one of the biggest barriers preventing the restoration of existing provision or building new provision of public toilets is our wider cultural taboo of bodily functions.Time and again we have found that regeneration documents refer to public toilets as “amenities”, “necessities”, or “facilities”. Our research has also found that while large percentages of the UK population want more public toilets, nearly the same percentage would not use a public toilet, because of the taboo reputation such provision also carries.It is not simply a question of “build them and they will be used”. There is also an education issue, to highlight how important provision is, and shift the sense of a dirty and unloved space that invites negative behaviours such as vandalism

1 day ago
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First teenage suicide linked to domestic abuse recorded in England and Wales

The first teenage girl has been identified as having been driven to kill herself after domestic violence, as police chiefs blamed violent pornography and “toxic” influencers for being behind a rise in teen abuse.Suicides after domestic abuse have outstripped homicides for the third year running, according to the Domestic Homicide Project, which records deaths in England and Wales after domestic abuse.Last year, there were 347 deaths, including 150 from suicide and 125 domestic homicides.Across the five-year dataset, victims were predominantly female (73%), and suspects predominantly male (79%). Over the five years, the project recorded 1,452 deaths in 1,410 incidents – 641 of these were domestic homicides, 553 were suicide after domestic abuse, 131 unexpected deaths, 86 child deaths and 41 deaths classified as “other”

2 days ago
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Call for UK gambling reform after ‘generous and caring’ woman takes her own life

A family is calling for wholesale reform of the gambling industry after an inquest heard details of the life and death of Ellen Mulvey, a “generous and caring” woman with a high-flying City job who also had a secret addiction.Mulvey’s family believe she lost hundreds of thousands of pounds gambling without their knowledge, first via mainstream operators and then on unlicensed platforms.An inquest heard that the 44-year-old took her own life and was declared dead at Macclesfield district general hospital on 7 November. Before she died, Mulvey wrote a note saying: “Addiction is the worst disease ever.”At work, Mulvey was the managing director of a global financial recruitment firm based in London

2 days ago
foodSee all
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A pasta bake and a sumac salad: Sami Tamimi’s prep-ahead sharing recipes

3 days ago
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The truth about cooking oils: 14 essential facts for healthier, cheaper meals

3 days ago
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The surprising boom in blouge wine: ‘It’s for 5pm, in the sun’

4 days ago
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How to make the perfect custard creams – recipe | Felicity Cloake's How to make the perfect …

4 days ago
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Impala, London W1: ‘Shamelessly, brilliantly too much’ – restaurant review | Grace Dent on restaurants

4 days ago
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Ifrah F Ahmed’s debut cookbook is a love letter to Somali cuisine, history and people

4 days ago