Newspaper headlines: Warnings of 'pain ahead' with inflation to hit 11%

1px transparent line
By BBC News
Staff
Many of the papers feature the Bank of England's forecast that inflation could surpass 11% later this year. The Daily Telegraph's lead story reports that it is the eighth time in a year that the Bank has revised its forecast and marks the biggest overshoot of its 2% inflation target on record.
The Times's headline says there will be "pain ahead" as it reports the comments of Levelling Up Secretary Michael Gove, who said the government cannot help everyone during the cost of living crisis. The paper quotes one anonymous cabinet minister questioning why the Bank of England only increased interest rates by a a quarter of a percentage point, when the US Federal Reserve increased them by three times as much.
"Now brace for pain of the big crunch" is the Daily Mail's headline, as the paper reports that Mr Gove appeared to urge the Bank to increase interest rates higher than 1.25%, saying it must "squeeze out the inflationary pressures". The paper quotes experts who say interest rates could hit 3.5% by the end of the year.
Metro's stark headline says "11% hell is on the way", as the paper says the interest rate rise means "piling more cost of living misery on millions".
Meanwhile, the i says ministers have ruled out cuts to personal tax rates until 2024, with Chancellor Rishi Sunak saying that bringing forward income tax cuts would stoke inflation further. The paper reports that campaigners have said the 13-year high in interest rates will not ease the burden on households.
The impact on food prices is the focus of the Daily Express front page, which says the 15% rise in prices forecast by industry leaders is a "shock". It will mean a typical family of four's monthly shopping bill could increase from £396 to £439.
The Guardian's lead story continues to follow the fallout from the resignation of Boris Johnson's ethics adviser, Lord Geidt. The paper says the prime minister is considering scrapping the role, prompting Labour's Angela Rayner to accuse him of being "content to further debase standards in public life".
AFP
Ghislaine Maxwell is branded a "deluded socialite" on the front of the Daily Mirror as the paper covers her forthcoming sentencing for helping the late financier Jeffrey Epstein sexually abuse teenage girls. The paper says she is urging the court to let her out of prison in two years, arguing she poses no danger - but prompting accusations that she thinks she is above the law.
A tragedy at Gatwick Airport is the lead story in the Sun, which says a disabled passenger became "the first victim of Britain's airport chaos" after he fell to his death from an escalator. The paper says the man had been waiting for assistance from an EasyJet flight but became frustrated by delays, prompting him to leave the plane into the packed terminal, where the accident occurred.
The Financial Times's lead story focuses on a pledge from France, Germany, Italy and Romania to back Ukraine for European Union candidate status, a precursor to joining the EU. The paper quotes French President Emmanuel Macron on the four leaders' visit to Kyiv saying: "Europe is at your side and will stay there for as long as it take."
"Weather killjoys" are the target of the Daily Star's ire on its front page, for urging the public not to drink too much alcohol on Friday, expected to be the hottest day of the year so far. Contemplating an order at the bar of "six pints of water and a packet of crisps, please", the paper says: "Yeah, right!"

Many of the papers reflect on the gloomy economic news. "Now brace for pain of the big crunch" is the headline in the Daily Mail. "Pain ahead," declares the Times.

Both lead on a warning from cabinet minister Michael Gove that the government won't be able to help everyone hit by the rising cost of living and higher mortgage payments.

The Mail adds that Mr Gove appeared to urge the Bank to increase interest rates even higher than the 1.25% level announced on Thursday.

The Times says other cabinet members privately questioned why the Bank's 0.25 percentage point rise was so much lower than the 0.75 percentage point increase announced by the US central bank.

The paper quotes a source as saying "either the Federal Reserve is wrong or the Bank of England is wrong".

Getty Images

The Metro front page concentrates on the Bank of England's inflation prediction - stating "11% hell is on the way". The paper says it will pile "more cost of living misery on millions".

The Daily Express focuses on a prediction from industry leaders that food costs are "set to rocket" by 15% this summer. It highlights what it calls a "hard-hitting report" from the Institute of Grocery Distribution, which says the cost-of-living pressures are the worst since the 1970s, mainly due to the war in Ukraine.

The inflation rate means no income tax cuts for two years, according to the i newspaper. It explains that ministers fear any boost in people's spending power could push up prices even more.

Sign up for a morning briefing direct to your inbox.

The Guardian leads on a suggestion that Boris Johnson may scrap the role of ethics adviser after the resignation of Lord Geidt - who, the paper says, accused the prime minister of "making a mockery" of his position overseeing standards in government.

The Guardian's interpretation is based on comments from Downing Street that Mr Johnson would not immediately look for a replacement, but would instead "review the system" of enforcing the ministerial code.

The Daily Mirror reports that the convicted sex-trafficker Ghislaine Maxwell believes she deserves to go free in two years when she's sentenced later this month for grooming girls for her friend, Jeffrey Epstein.

It says her lawyers believe she is not a danger to the public and are hoping for leniency.

But another US lawyer tells the paper that Maxwell is "delusional" and "thinks she is above the law". She could be jailed for 30 years under American sentencing guidelines.

Getty Images

The death of a disabled passenger at Gatwick airport is the main news for the Sun.

It says the unnamed man had been waiting for special assistance, but got frustrated at the delays and tried to navigate the North Terminal himself. He's reported to have died after falling down an escalator.

The paper describes him as "the first victim of Britain's travel chaos". EasyJet has said staff shortages were not a factor in his death.

The Daily Telegraph has a front page plea from the AA for charges for parking, congestion, and clean air zones to be waived for drivers during next week's rail strikes.

The motoring organisation says such measures would prevent cities turning into ghost towns, and would ease the burden on thousands of people who will have to drive to work.