Finance UK

UK inflation rate hits new 40-year high of 9.1%

Editorial Bureau June 22, 2022

London (UK)- Britain’s inflation rate hit a new 40-year high of 9.1% in the 12 months to May, figures showed Wednesday, as Russia’s war in Ukraine drove food and fuel prices ever higher. The Office for National Statistics said consumer price inflation rose slightly from 9% in April, itself the

UK

Pet collars and casual clothing mark pandemic shift in UK inflation basket

Editorial Bureau March 14, 2022

 London (Uk) – Pet collars and casual clothing are replacing takeaway doughnuts and men’s two-piece suits this year as Britain’s statisticians update their inflation calculations to account for pandemic trends. The biggest changes to the inflation basket for 2022 are around food after people ate more at home last year, and increasingly chose plant-based

UK

UK inflation hits decade high ahead of central bank meeting

Editorial Bureau December 15, 2021

LONDON — Consumer prices in the U.K. are rising at their highest rate in over a decade as a result of soaring energy costs and blockages in the supply chain, official figures showed Wednesday, a day before the Bank of England is set to next decide on interest rates. The Office for National Statistics found […]

UK

UK interest rates set to rise amid high inflation

Editorial Bureau November 4, 2021

LONDON — The Bank of England is widely expected to raise interest rates Thursday in order to combat rising inflation, a move that is likely to make mortgages and loans more costly. Financial markets think the bank is more likely than not to raise its main interest rate from the record low of 0.1% to […]

UK

UK inflation expectations show record jump in Sept -Citi/YouGov

Editorial Bureau September 22, 2021

LONDON (UK) – The British public’s expectations for inflation over the coming year have shot up by a record amount this month, raising the risk that the Bank of England will send a hawkish message soon, Citi said on Tuesday. The Citi/YouGov monthly inflation expectations survey showed that public inflation expectations for the next 12 […]

Business

UK inflation slows more surpassing expectations

Editorial Bureau August 18, 2021

LONDON (UK) -British inflation fell to the Bank of England’s 2% target last month in an unexpectedly sharp slowdown that economists said was most likely a blip as the reopening of the economy after lockdown drives prices higher. Economists polled by a prominent media had expected Wednesday’s official data to show a 2.3% rise in […]

Finance

Sterling surges after UK inflation reaches highest point in almost three years

Editorial Bureau July 14, 2021

LONDON (UK) – Sterling climbed against the dollar on Wednesday as UK inflation surpassed expectations to its highest in almost three years. This has putting the focus of the Bank of England’s plan to keep its huge stimulus programme in place. Inflation jumped in June further above the BoE’s 2% target to hit 2.5%, its […]

Business

UK govt data says Black Friday sales drove down inflation in Nov.

Editorial Bureau December 16, 2020

LONDON (UK) – According to official data of the UK on Wednesday, inflation in the country dipped by more than expected in November and it reflects Black Friday discounts as clothing and footwear prices dropped abruptly. In annual terms, consumer prices climbed 0.3%, after a 0.7% rise in October. A poll of economists had pointed […]

UK

UK inflation drops to lowest level since June 2016 in May

Editorial Bureau June 17, 2020

LONDON (UK) – Inflation in Britain fell to its lowest level since June 2016 last month as the coronavirus pandemic wiped out demand from the global economy and caused oil prices to tumble, leaving the Bank of England free to ramp up its stimulus programme again. Consumer price inflation slowed to 0.5% from 0.8% in […]

UK

Bumpy ride ahead for UK on inflation as COVID hits price data

Editorial Bureau May 6, 2020

LONDON (UK) – Britain will likely offer some volatile inflation readings in the months ahead because the coronavirus shutdown has prevented statisticians from getting any prices on a wide range of items including pints of draft beer, haircuts and holidays The Office for National Statistics said it had no data on prices in April that […]