Inflation: What does the latest rise mean for money in your pocket?
3 weeks ago

Inflation: What does the latest rise mean for money in your pocket?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The UK inflation rate has gone up to 2.6 per cent in November, rising for the second month in a row and increasing at the fastest pace since mid-2022. The consecutive rises mark the fastest growth rate for inflation since mid-2022, when the figure peaked at a record 11.1 per cent during the Covid pandemic, causing a nationwide cost of living crisis. Grant Fitzner, chief economist at the Office for National Statistics, said: “Inflation rose again this month as prices of motor fuel and clothing increased this year but fell a year ago.” “This was partially offset by air fares, which traditionally dip at this time of year, but saw their largest drop in November since records began at the start of the century.” Here’s what the latest rise in inflation could mean for you and your money: How does the inflation increase affect my mortgage? Also from April 2025, all working-age benefits will increase by 1.7 per cent, in line with September’s inflation figure.

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History of this topic

U.K. Inflation rises further above Bank of England's target in November
3 weeks ago

U.K. Inflation rises further above Bank of England's target in November

The Hindu  

Inflation in the U.K. has risen to its highest level since March, driven by an increase in fuel prices last month, official figures showed on Wednesday. Rate-setters had anticipated a pick-up in inflation when the central bank last cut rates in early November as price pressures eased earlier in the year — in September, inflation had fallen to its lowest …

UK inflation increase solidifies expectations interest rates will be kept on hold
3 weeks ago

UK inflation increase solidifies expectations interest rates will be kept on hold

Associated Press  

LONDON — Inflation in the U.K. rose to its highest level in eight months during November, official figures showed Wednesday, a development that has cemented market expectations that the Bank of England will opt against cutting borrowing costs this week. It said stubbornly high inflation in the crucial services sector, which accounts for around 80% of the U.K. economy, and …

Inflation heated up last month as consumer prices rose 2.7%, underscoring the slog ahead
4 weeks, 1 day ago

Inflation heated up last month as consumer prices rose 2.7%, underscoring the slog ahead

CNN  

CNN — Inflation heated back up again in November, but it likely wasn’t bad enough to keep the Federal Reserve from cutting rates next week. “We have some PTSD around egg prices from the pandemic and certainly lingering avian flu outbreaks; but those prices being up almost 40% year over year certainly is another thing people will look at in …

How will the interest rate cut affect you? From inflation to mortgages
2 months ago

How will the interest rate cut affect you? From inflation to mortgages

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. High interest rates encourage saving because people get a better return for the money …

Why has inflation slowed and what does it mean for households?
2 months, 3 weeks ago

Why has inflation slowed and what does it mean for households?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. It was the lowest reading since April 2021 and …

What rising inflation means for you and what happens next
4 months, 3 weeks ago

What rising inflation means for you and what happens next

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. That means overall services prices still rose versus July last …

UK inflation stays at 2% despite surge in hotel prices
5 months, 3 weeks ago

UK inflation stays at 2% despite surge in hotel prices

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation in the UK held …

How will the latest rise in inflation impact house prices?
11 months, 3 weeks ago

How will the latest rise in inflation impact house prices?

Daily Mail  

A drop in house prices is 'inevitable' following the latest inflation figures, a top property trade body suggests. The headline CPI rate defied expectations of a dip in December, rising from 3.9 per cent to 4 per cent Property insiders agreed that it is likely to be a 'bumpy ride' ahead for the property market. The typical home was worth …

Inflation rates: How will the shock rise affect your money?
11 months, 3 weeks ago

Inflation rates: How will the shock rise affect your money?

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Grant Fitzner, ONS chief economist, said: “The rate of inflation …

What rising inflation means for you: CPI increases to a six-month high - what happens next?
1 year, 4 months ago

What rising inflation means for you: CPI increases to a six-month high - what happens next?

Daily Mail  

Inflation has risen higher than the national target, meaning consumers pay more Inflation rose above the Bank of England's 2 per cent target in October, reaching a six-month high. The bigger-than-expected rise in the headline inflation rate to 2.3 per cent coincided with another increase in core inflation, which has continued to run hot. Julian Jessop, economics fellow at the …

UK inflation remains over 10% as food prices rise
1 year, 8 months ago

UK inflation remains over 10% as food prices rise

Associated Press  

LONDON — The price of food in the U.K. rose at the fastest pace in 45 years last month in, keeping inflation above 10% for a seventh straight month amid a cost-of-living crisis that has fueled a wave of strikes by government workers. Food prices jumped 19.2% in the 12 months through February, the biggest increase since August 1977, the …

What does inflation mean for you?
2 years, 1 month ago

What does inflation mean for you?

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Grant Fitzner, chief economist at the ONS, said: “Rising …

Make no mistake, the government shares in the responsibility for sky-high inflation
2 years, 1 month ago

Make no mistake, the government shares in the responsibility for sky-high inflation

The Independent  

Rising inflation is still haunting Britain. The latest update from the Office for National Statistics showed consumer price inflation shot up to 11.1 per cent for the 12 months to October. The cost of food and non-alcoholic beverages rose by 16.2 per cent in the year to October, the highest rise since 1977. Well, “core” inflation, excluding those volatile food …

What's your personal rate of inflation?
2 years, 1 month ago

What's your personal rate of inflation?

ABC  

While inflation has officially reached 7.3 per cent for the year, prices aren’t rising at the same rate across the board. To estimate your personal inflation rate, we took a breakdown of average Australian spending called the Consumer Price Index, and made a few tweaks based on the answers you gave us earlier. Measuring housing costs The official inflation rate …

Inflation in Britain accelerates to 11.1% — a 41-year high
2 years, 1 month ago

Inflation in Britain accelerates to 11.1% — a 41-year high

LA Times  

Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the cost-of-living crisis. Britain’s inflation rate rose to a 41-year high in October, fueling demands for the government to do more to ease the nation’s cost-of-living crisis when it releases new tax and spending plans Thursday. Higher prices for food …

U.S. consumer inflation eased to 7.7% over last 12 months
2 years, 1 month ago

U.S. consumer inflation eased to 7.7% over last 12 months

LA Times  

Price increases moderated in the United States last month in the latest sign that the inflation pressures that have gripped the nation might be easing as the economy slows and consumers grow more cautious. Even with last month’s tentative easing of inflation, the Federal Reserve is widely expected to keep raising interest rates to try to stem persistently high price …

U.K. inflation accelerates to 40-year high as food prices rise
2 years, 2 months ago

U.K. inflation accelerates to 40-year high as food prices rise

The Hindu  

British food prices rose at the fastest pace since 1980 last month, driving inflation back to a 40-year high and heaping pressure on the embattled government to balance the books without gutting help for the nation's poorest residents. “In today's society, I find that completely unacceptable.” Hunt this week told the House of Commons that the government would “prioritise help …

Worsening inflation will pressure Fed to keep raising rates
2 years, 2 months ago

Worsening inflation will pressure Fed to keep raising rates

Associated Press  

WASHINGTON — Inflation in the United States accelerated in September, with the cost of housing and other necessities intensifying pressure on households, wiping out pay gains and ensuring that the Federal Reserve will keep raising interest rates aggressively. And on a month-to-month basis, such “core” prices soared 0.6% for a second straight time, defying expectations for a slowdown and signaling …

UK inflation surges to new 40-year high of 10.1% in July on soaring food, energy price
2 years, 4 months ago

UK inflation surges to new 40-year high of 10.1% in July on soaring food, energy price

Firstpost  

The Bank of England warned earlier this month that UK inflation would climb to just above 13 per cent this year, which would be the highest level since 1980 London: British inflation surged to a new 40-year high in July on soaring food prices, official data showed Wednesday, adding to a cost-of-living crisis as the country faces the prospect of …

At 10.1%, UK inflation hits double digits for the first time in 40 years
2 years, 4 months ago

At 10.1%, UK inflation hits double digits for the first time in 40 years

Hindustan Times  

UK inflation accelerated more than expected last month to the highest in 40 years, intensifying a squeeze on consumers and adding to pressure for action from the government and Bank of England. “Food prices rose notably, particularly bakery products, dairy, meat and vegetables, which was also reflected in higher takeaway prices,” said Grant Fitzner, chief economist at the ONS. “Price …

UK inflation hits 10% as cost-of-living crisis accelerates
2 years, 4 months ago

UK inflation hits 10% as cost-of-living crisis accelerates

CNN  

CNN Business — Inflation in the United Kingdom hit a new 40-year high last month, rising above 10% for the first time since 1982 and piling further pain on households already struggling to pay their bills. Soaring food prices — up 12.7% since July 2021 — were the largest single contributor to the acceleration in inflation, the ONS said. “All …

UK inflation surges to new 40-year high of 9.4%
2 years, 5 months ago

UK inflation surges to new 40-year high of 9.4%

Associated Press  

LONDON — Inflation in the United Kingdom has accelerated to a new 40-year high, driven by rising food and fuel prices that are contributing to a cost-of-living crisis. Bank of England Governor Andrew Bailey said Tuesday that the bank is likely to consider raising interest rates by half a percentage point at its next meeting to help control inflation. “Here, …

UK inflation rate hits new 40-year high of 9.1%
2 years, 6 months ago

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

Associated Press  

LONDON — 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. Chief economist Grant Fitzner said “continued steep food price rises and record high petrol prices were offset by clothing costs rising by less than this time last …

Food prices push UK inflation to 40-year high of 9.1 percent
2 years, 6 months ago

Food prices push UK inflation to 40-year high of 9.1 percent

Al Jazeera  

The Bank of England says worse is yet to come as the UK records the highest inflation rate out of the G7 countries. Rising food prices pushed the United Kingdom’s consumer price inflation to a 40-year high of 9.1 percent last month, the highest rate out of the Group of Seven countries. “With the economic outlook so unclear, no one …

How does rising inflation impact your finances?
2 years, 7 months ago

How does rising inflation impact your finances?

The Independent  

Inflation has surged to 9 per cent – the highest in 40 years. The energy price cap, which sets the maximum rate most people pay for their domestic electric and gas, rose 12 per cent in October last year and 54 per cent in April this year. The latest official data shows food prices rose 5.9 per cent in the …

UK inflation rises at the fastest pace in 30 years
2 years, 8 months ago

UK inflation rises at the fastest pace in 30 years

India Today  

British consumer prices rose at the fastest pace in 30 years last month, fueled by soaring costs for household energy and motor fuels — the latest grim figures as inflation surges around the world. The U.K. faces what economists say will be the biggest drop in living standards since the mid-1950s as rocketing energy costs, rising food prices and tax …

UK inflation rises at the fastest pace in 30 years
2 years, 8 months ago

UK inflation rises at the fastest pace in 30 years

Associated Press  

LONDON — British consumer prices rose at the fastest pace in 30 years last month, fueled by soaring costs for household energy and motor fuels — the latest grim figures as inflation surges around the world. The U.K. faces what economists say will be the biggest drop in living standards since the mid-1950s as rocketing energy costs, rising food prices …

U.K. inflation rises at the fastest pace in 30 years
2 years, 8 months ago

U.K. inflation rises at the fastest pace in 30 years

The Hindu  

British consumer prices rose at the fastest pace in 30 years last month, fueled by soaring costs for household energy and motor fuels — the latest grim figures as inflation surges around the world. The U.K. faces what economists say will be the biggest drop in living standards since the mid-1950s as rocketing energy costs, rising food prices and tax …

Inflation means we’re in for a tough year ahead – how will increasing interest rates help?
2 years, 9 months ago

Inflation means we’re in for a tough year ahead – how will increasing interest rates help?

The Independent  

This week will see an increase in interest rates in the US and UK. In the case of the US, last week saw consumer inflation reach 7.9 per cent, the highest for 40 years. The Federal Reserve has paved the way for the first increase in interest rates since 2018, with its chair Jerome Powell telling Congress that he is …

US sees highest increase in inflation in 40 years fueled by 7.5% surge in consumer prices
2 years, 10 months ago

US sees highest increase in inflation in 40 years fueled by 7.5% surge in consumer prices

India Today  

U.S. consumer prices rose solidly in January, leading to the biggest annual increase in inflation in 40 years, which could fuel financial markets speculation for a 50 basis points interest rate hike from the Federal Reserve next month. STRONG UNDERLYING INFLATION Excluding the volatile food and energy components, the CPI increased 0.6% last month after rising 0.6% in December. "The …

Inflation is not 'out of control', but interest rates may have to rise this year
2 years, 11 months ago

Inflation is not 'out of control', but interest rates may have to rise this year

ABC  

Australian consumers saw prices rise by 3.5 per cent last year. Inflation running at 3.5 per cent Most of the price increases facing consumers in Australia last year were driven by pandemic-related economic disruptions. Gareth Aird, a Commonwealth Bank economist, says Australia's labour market will keep tightening this year, meaning even more people will find jobs and the unemployment rate …

UK inflation: Prices rise at fastest pace in 10 years as economy stalls
3 years ago

UK inflation: Prices rise at fastest pace in 10 years as economy stalls

CNN  

London CNN Business — Talk of stagflation has been brewing for months. Tombs said the shock inflation numbers are “uncomfortably high” for the Bank of England, which would normally respond to surging inflation by hiking interest rates from the record low of 0.1%. “The quick ascent of … inflation over the last four months probably will not panic the into …

Column: Inflation has spiked. Don’t freak out
3 years, 1 month ago

Column: Inflation has spiked. Don’t freak out

LA Times  

Federal Reserve Chairman Jerome H. Powell is in the hot seat over what his board can do about inflation. — Economist Ian Shepherdson Price hikes were seen in “shelter, used cars and trucks, and new vehicles, the indexes for medical care, for household furnishing and operations, and for recreation.” Among the few safe harbors cited by the BLS were airline …

UK inflation increased to 0.7 per cent in January
3 years, 10 months ago

UK inflation increased to 0.7 per cent in January

Daily Mail  

UK inflation increased last month on the back of higher food prices and more expensive household goods, according to new official data. The Office for National Statistics said Consumer Prices Index inflation increased to 0.7 per cent in January, up by 0.1 per cent on the 0.6 per cent recorded in December. Office for National Statistics data published this morning …

CPI inflation inches up in Oct
4 years, 1 month ago

CPI inflation inches up in Oct

Live Mint  

Consumer Price Index -based inflation shot up to a worrying 7.61% in October, well above the central bank’s comfort zone, fuelled by a spike in food prices, official data showed on Thursday. Food price inflation quickened to 11.07% in October from 10.68% the month before as vegetables, fish, egg, meat and oils witnessed sustained price rise, showed data issued by …

Rising inflation is a supply-induced problem this year
4 years, 2 months ago

Rising inflation is a supply-induced problem this year

Live Mint  

Consumer price inflation for September was at 7.34%—the fifth consecutive CPI print above the MPC’s target of 2-6%. A surge in food prices are the primary reason for the sharp increase in food inflation, which has demonstrated an upward trajectory of 7.87% in June, 9.27% in July, 9.05% in August and finally 10.68% in September. The high share of food …

Inflation may be very low but our cost of living is rising much faster
5 years, 5 months ago

Inflation may be very low but our cost of living is rising much faster

ABC  

When trying to describe inflation in a non-technical way, economists often use the shorthand of "rising cost of living". Key points: The ABS CPI figures out on Wednesday are expected to show prices rose 1.5 per cent over the year to June 30 However, analysis by Fidelity shows prices for essential goods and services have generally risen much faster than …

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