Inflation news & latest pictures from ibtimes.co.uk

The Bank of England is expected to raise interest rates for a 14th time as it battles to rein in inflation that is the highest in the G7

Bank of England Warns of Potential Market Correction Amidst Economic Uncertainties

The House of Lords Economic Affairs Committee released a report that critiques the Bank of England's scope of operation amidst the current cost of living crisis.

UK Shoppers Anticipate Reduced Black Friday Purchases Amidst Cost of Living Crisis

The cost of living crisis has caused consumers to be more wary of buying non-essentials this Black Friday due to inflation after the pandemic.

Kingfisher Faces Profit Woes Amid French Market Struggles as UK Flourishes on 'Improve Not Move' Trend

The company's stock saw a sharp decline of six per cent, marking it as the top faller on the FTSE 100. The underlying issue, as Kingfisher explained, stemmed from ongoing weaknesses in their French market.

UK Inflation Plunges to Lowest Figure in 2023 At 4.6% as Sunak on Track to Meet Annual Target

In September, inflation stood at 6.7 per cent, as many people across the UK continue to struggle with the cost-of-living crisis.

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October UK Retail Sales Drop Triggering Recession Worry in the UK Economy

UK retail sales growth declined in October as UK consumers are cautious of spending and saving for Christmas amidst the cost-of-living crisis which has sparked a recession for the UK economy.

The Bank of England said top UK lenders would remain resilient even 'if economic conditions turned out to be much worse than we expect'

Bank of England Holds Interest Rates At 5.25% for Second Time

Nine members of the Monetary Policy Committee (MPC) voted 6-3 in favour of maintaining the current rate, in a move that was widely anticipated.

https://www.reuters.com/world/uk/uk-housing-market-may-face-perfect-storm-mortgage-rates-rise-house-prices-drop-2022-09-28/

Recent Data Reveals House Prices Fall in Largest Slump Since 2009

Data from Zoopla shows there has been a 23 per cent reduction in housing sales so far this year compared to the same time last year.

Inflation Grows Strong, But An Answer Grows Stronger

The National Achievers Congress is here to empower you with the knowledge and tools you need to conquer this financial challenge.

UK Economy at Risk of Recession as Business Activity Declines and Cost Pressures Ease

The preliminary reading of the S&P Global UK PMI for the services sector, often referred to as the "flash" PMI, fell to 49.2 in October from 49.3 in September.

Britain is facing a cost-of-living crisis, with wage values falling at a record pace

UK Workers to Receive Pay Boost with New Real Living Wage

Approximately half a million employees employed by companies committed to the voluntary Real Living Wage are poised to experience a substantial increase in their earnings, bringing their minimum hourly wage to at least £12.

UK Inflation Resists Expected Slowdown in September Amid Rising Oil Prices

CPI reported a year-on-year increase of 6.7 per cent, maintaining the same pace as the previous month, contrary to economists' predictions of a dip to 6.6 per cent.

UK annual inflation dropped sharply in July, easing a cost-of-living crisis that has pushed up prices of goods

Average Pay Growth Rises Above Inflation for the First Time in Almost Two Years

The figures show that between June and August of this year, wages rose at an annual rate of 7.8 per cent, higher than average inflation over the same three months.

Economic Challenges Mount as UK Retail Sales Slow Amid Rising Inflation and Global Uncertainties

The latest sales-monitor report from the British Retail Consortium has revealed a slowdown in retail sales growth in the UK for September. Despite a fall in inflation, the high cost of living continues to place pressure on households' budgets.

Bank of England Holds Interest Rates at 5.25%

The decision to hold the rate comes after figures revealed an unexpected slowdown in inflation in August.

Investors are keenly awaiting the release of the Federal Reserve's preferred gauge of inflation later in the day

Waitrose and Aldi cut more prices as Britain's food inflation picture improves

Grocery price inflation has fallen to its lowest level for more than a year, causing major supermarkets to slash prices.

UK consumer prices rose by an annual rate of 7.9 percent, down from 8.7 percent in May as food price inflation eased

The shockwaves of Russia exiting from the Black sea grain deal could make global flood inflation hard to contain

Asian countries like India are resorting to high export duties on grain exports to contain global food inflation while the UK is reducing dependency on Ukraine.

Supermarket prices expected to fall amidst the cost of living crisis

Despite the cost of living crisis and rising inflation, Sainsbury's chief executive believes that supermarket prices are about to start falling.

Bank of England raises UK interest rates to a record 5.25%

The last time rates were this high was in April 2008, in the midst of the global financial crash, with the UK's central bank expecting inflation to fall below five per cent in the autumn or winter.

The UK food and consumer goods business struggles with low consumer confidence, inflation and labour shortage

The UK food and consumer goods business is facing challenges, including inflation and labour shortages, according to the Institute of Grocery Distribution.

Bank of England warns of rising mortgage payments and potential struggles for UK households

The Bank of England warns that nearly one million UK households will face higher mortgage payments due to rising interest rates, potentially impacting financial stability.

UK retail sales in June show modest growth, falling behind inflation rates

Retail sales saw a slight improvement in June, with like-for-like (LFL) sales increasing by only 1.9 per cent, according to the latest data from BDO LLP.

Russian and Belarusian players were banned from Wimbledon last year

Wimbledon fans shocked by massive price hike for food and drinks

Inflation could be felt even at the All England Lawn Tennis & Croquet Club.

Soaring inflation leaves UK struggling in international competitiveness

A recent ranking shows Britain's global competitiveness dropping for the second year in a row, as business executives lose confidence in the country.

Britons increasingly hungry, isolated because they cannot afford food: report

More than 11 million people in the UK faced hunger in the past year, according to research conducted by the food bank charity Trussell Trust.

The Neuzelle Kloster Brewery is looking to sell its powdered beer within around four months

'Drinkflation' a growing concern as high inflation worries UK hospitality sector

Less booze in your drink as soaring costs and reduced consumer spending pose challenges for brewing sectors.

Any move to increase interest rates by the Bank of England will further add to a cost of living crisis

Bank of England set to increase interest rate for the 13th time in a row

The Bank of England is expected today to raise the interest rate for the 13th time in a row, despite recent forecasts of an improving economic outlook.

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