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UK inflation
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…
IMF: Keep interest rates high to avoid a repeat of the inflation crisis from 1970s
The International Monetary Fund has warned that central banks need to keep interest rates at high levels for another 12 months in order to defeat inflation.
The Fund has called on central bankers "to pay the most attention" in order to…
Halfords warns that profits will fall amid a slump in sales of new bikes
Halfords warned that profits would be lower this Christmas as fewer people bought new bicycles.
The retailer's shares fell as much as 22% after it cut its profit forecasts. It said it would not be able to achieve a profit of £58m for the…
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…
Jeremy Hunt reduces national insurance, but taxes are at postwar highs
Chancellor Jeremy Hunt cut personal and business taxes by £20bn as part of his Autumn Statement aimed to boost growth. However, the UK's Budget Watchdog warned that taxes in general are still increasing at a high post-war level.
The…
Bank of England Governor warns the markets that inflation will not fall rapidly
Andrew Bailey warned the markets not to underestimate the UK's persistent inflation, and emphasized that he expects the Bank of England to keep interest rates at high levels for a long time.
The BoE Governor told MPs Tuesday that…
Hunt’s £10bn tax cut headroom at Autumn Statement is a significant amount, according to…
JP Morgan says that Jeremy Hunt can cut taxes by up to £10bn in the Autumn Statement next week, as the outlook of the economy improves while inflation slows down.
Allan Monks is an economist with JP Morgan. He said that he expected…
Data shows that UK grocery inflation has fallen to single digits, for the first time in 16 months.
According to data from the sector, UK grocery inflation is now at single digits after 16 months of steep increases. This will give households hope that food prices can normalise in the months to come.
Research company Kantar reported on…
Data shows that UK shop price inflation has fallen to its lowest level for more than a calendar…
According to new data, UK grocery inflation is at its lowest level in over a year. This is due to the falling price of locally grown food.
The British Retail Consortium announced on Tuesday that the annual shop price -inflation rate…
Bank rate-setter: Recession is imminent as the jobs market deteriorates
A Bank of England rate-setter warned that Britain was slipping into a recession as official data indicated signs of a weakening labour market.
Swati Dhingra said that there were "early indications" of a possible "over-tightening", as…
Boots owner to cut $1bn in costs despite UK sales increase
The owner of Boots is carving $1bn (£820m) of costs out of its business after a sales boost in the British pharmacy chain failed to buoy earnings as much as Wall Street expected.
Walgreens Boots Alliance unveiled plans to lower its…
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…
UK mortgage rates to drop after Bank of England’s knife-edge vote
After almost two years of increasing borrowing costs, the Bank of England is expected to lower UK mortgage rates further.
Since the middle of the summer, mortgage prices are declining as the markets react to better-than-expected …
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'…
Inflation and wage expectations of UK businesses eased in August
A monthly survey conducted by the Bank of England shows that UK businesses are expecting inflation and wage growth will ease. This is good news for policymakers as they prepare to make the decision on interest rates later in the month.…
Cost of living crisis stifles post-Covid recovery
Economists warn that a global recession is imminent as the rising interest rates and cost of living crisis are eating away at any remaining strength in the post-Covid recovery.
The British economy has suffered its worst slump in over…
Inflation is declining faster than expected
Inflation may be easing more quickly than first thought, the Office for National Statistics has found, providing a boost for Rishi Sunak, who has pledged to halve inflation by the end of the year.
Calculations released on Monday by the…
UK corporate profitability remains stable despite ‘greedflation’ claims
Official data shows that the profitability of UK non-financial private companies has remained unchanged in the first quarter 2023. This suggests that higher corporate profit margins do not push up inflation.
The Office for National…