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Inflation
How inflation has driven the UK’s cost of living crisis
The Office for National Statistics will release its April inflation statistics on Wednesday. It is expected that the data will show prices rising at their lowest rate since summer of 2021.
For economists a rate of inflation of around 2%…
World Bank warns that oil prices could reach $100 per barrel if the conflict in the Middle East…
The World Bank said that a serious increase in tensions in the Middle East could push the oil price to $100 (£80) per barrel, and reverse the recent decline in global inflation.
The Washington-based organization said that the recent drop…
The disappointment of a 3.2% inflation rate as the hopes for rate reductions fade
The Bank of England is more likely to delay cutting interest rates later in the year if inflation falls slower than expected. This is due, in part, to the higher fuel prices.
According to the Office for National Statistics, the pace of…
Hunt promises to reduce the benefits bill ‘further’ and ‘faster’
Jeremy Hunt warned that the costs of welfare benefits were rising uncontrollably. He pledged to cut the welfare bill "further, faster and more dramatically".
In an interview, the Chancellor said that he also wanted to reduce National…
Bailey says UK is on track to cut rates as US struggles with stubborn inflation
Andrew Bailey said that UK Interest Rates will continue to fall over the next few months, amid fears that the US rate cut may be delayed due to stubborn inflation.
The Bank of England Governor stated that he had "strong evidence" of…
After US inflation rose to 3.5%, markets slash their rate-cut bets
After US inflation exceeded expectations, traders slashed their bets on Federal Reserve rate cuts Wednesday. Joe Biden also acknowledged that there was still "more to be done" in combating price increases.
After official data revealed a…
Middle and high-income households are facing the worst living standards decline since 1960s
Tories presided over the largest setback in records since beginning
If the Conservatives are in power, the Institute of Fiscal Studies has warned that middle- and high-income households in Britain will experience the biggest decline in…
UK inflation drops to 3.4%, the lowest since two and half years.
The UK's inflation rate fell to just 3.4% in the month of February, the lowest it has been for over two years. This is because the pace of annual price increases began to slow down again after having stagnated the previous months.
The…
Top central banker warns: Cut borrowing or you will face a debt crisis
A top central banker warned that governments must stop "relentless borrowing" or they risk plunging into a global debt crisis.
Agustin Carlstens, the head of the Bank for International Settlements (BIS), a global club for central bank…
Bank of England Governor welcomes “good news” on inflation
The Bank of England governor has welcomed the "good news" about inflation but warned that it will not cut rates immediately if, as expected, prices fall to just 2 percent this spring.
Andrew Bailey responded to figures that showed the…
China exports deflation around the globe as its economy falls apart
Global investors expect falling prices in China to push down inflation rates worldwide this year, as excess capacity in its slowing economy prompts Chinese exporters to cut prices on goods they sell abroad.
Prices of Chinese exports have…
China’s rising prices create uncertainty amid the property crisis
The pace of inflation in China is the lowest since the financial crisis. This has led to concerns about the weakening demand in the second largest economy in the world.
According to the National Bureau of Statistics, China's consumer…
Primark boss warns of high inflation
Inflation in the UK will not return to levels seen before Russia's invasion of Ukraine because of rising wages, a senior executive at Associated British Foods has said.
Eoin Tonge, finance director at the food-to-fashion group that owns…
Paul Smith’s Fashion Empire Posts Loss for Fourth Year Running
Paul Smith's fashion company has warned about the impact of inflation after recording a fourth consecutive loss.
The 77-year-old designer's firm said that sales in its global business increased by 7.7pc, to £212.5m, compared to a year…
In 2024, the UK will cut its spending on affordable housing.
In response to budgetary pressures, housing associations in England cut their spending plans on new affordable homes for 2024. This could worsen the acute shortage of social houses in the UK.
According to Centrus, an adviser who works…
Inflation in the UK falls to 3.9% by November
UK inflation slowed sharply in November to 3.9 per cent, triggering a slide in the pound, a stock market rally and increased expectations of an interest-rate cut early next year.
Wednesday's number was well below the 4.4 per cent…
The rise in US core inflation highlights persistent price pressures
US core inflation increased last month. This supports the argument of the US Federal Reserve, that interest rates could need to be held for several months.
The US core price index rose by 0.3 percent in November. However, the core rate…
Investors warn that the Bank of England is lagging behind its peers in combating inflation.
Investors have warned that the Bank of England is facing a stubborn inflation problem which may prevent it from reducing interest rates as dramatically as its peers next year. The central bank is preparing for its final policy session of…