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Inflation
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…
Andrew Bailey says that Britain’s outlook for growth is the ‘worst’ he’s…
Andrew Bailey said that the economic outlook is the worst of all times, and Britain is struggling to increase low levels in growth.
The Bank of England Governor expressed concern over UK future prospects, just days after the Office for…
As the rich are squeezed by their spending, second-hand Rolex is expected to soar.
The UK's leading Rolex dealer expects a surge in the sale of second-hand luxury timepieces as inflation squeezes wealthy consumers' spending.
Watches of Switzerland, a retailer of upmarket watches, said Tuesday that used timepieces…
UK food inflation could be gone by Easter according to the boss of a major retailer
According to the owner, food inflation could be gone by Easter if there are no more shocks to global system.
George Weston, chief executive officer of Associated British Foods, which owns Primark, a budget clothing chain, stated: "Food…
Eurozone inflation drops more than expected, to 2.9%
The eurozone inflation rate fell to 2,9% in October, the lowest level for over two years. This has boosted expectations that European Central Bank won't raise interest rates any further.
This is the lowest annual increase in consumer…
Britain could be a tipping point in a global reckoning
Noel Quinn is the chief executive officer of HBSC - the seventh largest bank in the world. He says that "a global reckoning" could be on its way. After the 2008 financial crash, and then again during the Covid epidemic, government debts…
A new cloud is forming’ over the global economy following Hamas’ attack on Israel
The recovery is "limping along" amid the threat of another Middle East war
The International Monetary Fund's chief has warned that the Middle East conflict, triggered by Hamas' terrorist attack on Israel, is "a new cloud" over…
ONS: UK wages are not an unusually large driver of inflation
According to new research by the Office for National Statistics, rising salaries do not contribute to UK inflation more than usual. This could allay fears of a spiraling wage-price.
A measure of domestic price increased by 7.9% in the year…
BOE’s Catherine Mann calls for an ‘aggressive’ policy to combat inflation
Catherine Mann, a Bank of England policymaker, has expressed concern that the prolonged period of inflation above target could fuel future expectations of price increases.
Mann, speaking at the National Association for Business Economics…
Oil prices are surging, causing a ‘third wave’ of inflation.
Economists warn that a third wave of inflation could be on the way after oil price spiked in response to Hamas's deadly attacks against Israel.
Brent crude prices rose up to 5pc Monday, hitting $89 per barrel on fears that the war…
Grocers are driving down the UK food inflation rate
A new survey shows that food prices have dropped for the first two years, amid fierce competition between supermarkets.
According to the British Retail Consortium's and NielsenIQ's latest Shop Prices Index, the monthly grocery inflation…
Investors reduce bets after UK inflation drops to 6.7%
UK prices rose less than expected in August, lowering the annual rate of inflation to 6.7 per cent and putting pressure on the Bank of England to pause its long run of interest rate rises on Thursday.
The Office for National Statistics'…
Hamptons rents are soaring as high interest rates keep buyers away
Rents in Britain are at their highest level ever as interest rates rise, driving away potential buyers.
According to Hamptons, the average monthly rental cost is 12 percent higher than it was at this time last. It has risen by £140, to…
Andy Haldane: The’sandwich generation” is responsible for Britain’s crisis of…
Andy Haldane warns about the pressures of long term sickness on middle aged workers
Former Bank of England chief economist, David Lewis, said that Britain's "sandwich" generation is forced to pay for the inactivity of older and…
US inflation increases in August due to higher petrol prices
The Federal Reserve is struggling to control prices as rising energy costs have pushed US inflation to levels above expectations in August.
According to Bureau of Labor Statistics figures released on Wednesday, consumer prices increased…