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%

India TV News  

Highlights Britain's inflation rate hit 9.1% in May, a new 40-year high and up slightly on the previous month The Office for National Statistics said that consumer price inflation rose slightly from 9% in April Millions of people in Britain, like those across Europe, are seeing their cost of living soar UK inflation rate : Britain's inflation rate hit 9.1% in May, a new 40-year high and up slightly on the previous month, The Office for National Statistics said Wednesday that consumer price inflation rose slightly from 9% in April, itself the highest level since 1982. 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 year, and a drop in often fluctuating computer games prices.” The increase was in line with analysts' expectations and signals no quick end to the cost-of-living squeeze facing millions in Britain. The pressure is driving workers to seek substantial pay increases, a move the Conservative government argues could spark a wage-price spiral, driving inflation even higher. ALSO READ: Pakistan's weekly inflation rate increases by 3.38 per cent after fuel price hike

Inflation Price High Britain  high  railway  rate  91  britain  strike  40year  price  hits  uk  slightly  workers  inflation  hit

History of this topic

Inflation rates live: Bank of England expected to hold interest rates at 4.75 per cent
Top News
3 weeks ago

Inflation rates live: Bank of England expected to hold interest rates at 4.75 per cent

The Independent  

Chancellor of the exchequer Rachel Reeves said the figures are a ‘reminder that for too long the economy has not worked for working people 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 …

FTSE inches higher despite caution after jump in UK inflation
3 weeks ago

FTSE inches higher despite caution after jump in UK inflation

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 London’s top equity markets wobbled …

What does rising inflation mean for you - and has it killed off a Bank of England interest rate cut?
3 weeks ago

What does rising inflation mean for you - and has it killed off a Bank of England interest rate cut?

Daily Mail  

Inflation in the UK climbed to 2.6 per cent in November, it was revealed today, as the rise in the cost of living accelerated again. James Smith, developed markets economist, UK, at ING, said: 'Our base case is for back-to-back to rate cuts from February onwards, with Bank Rate falling to 3.25 per cent later in the year. While services …

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 rises AGAIN to its highest level since March: Price rises hit 2.6 per cent driven by spikes in the cost of petrol and fags to increase pressure on Chancellor Rachel Reeves
Trending News
3 weeks ago

Inflation rises AGAIN to its highest level since March: Price rises hit 2.6 per cent driven by spikes in the cost of petrol and fags to increase pressure on Chancellor Rachel Reeves

Daily Mail  

Inflation rose for the second month in a row in November, hitting 2.6 per cent to further increase pressure on Labour Chancellor Rachel Reeves over her Budget's impact on the country. Spikes in petrol and tobacco prices drove CPI to 2.6 per cent, up from 2.3 per cent in October, the Office for National Statistics said. Ms Reeves said: 'I …

Retail inflation slows slightly at 5.48%
3 weeks, 6 days ago

Retail inflation slows slightly at 5.48%

Hindustan Times  

Retail inflation rose to 5.48% last month, a slower pace of increase compared to 6.21% in October, data from the Ministry of Statistics and Programme Implementation showed on Thursday. Despite the slowing pace of growth in prices, the Consumer Price Index-based rate of retail inflation stayed above the Reserve Bank of India’s 4% tolerance level, with two percentage points of …

Energy costs push UK inflation to 2.3 percent
1 month, 2 weeks ago

Energy costs push UK inflation to 2.3 percent

China Daily  

Inflation in the United Kingdom increased to 2.3 percent in October, putting pressure on the Bank of England to wait until next year before making additional interest rate cuts. Figures released by the Office for National Statistics, or ONS, on Wednesday showed that surging household energy costs pushed the consumer price index higher, breaking the pattern of declining inflation rates …

UK inflation hits six-month high of 2.3% on high energy bills; BoE stresses on gradual rate cuts
1 month, 2 weeks ago

UK inflation hits six-month high of 2.3% on high energy bills; BoE stresses on gradual rate cuts

Live Mint  

British inflation jumped by more than expected last month to rise back above the Bank of England's 2% target and underlying price growth gathered speed too, showing why the BoE is moving cautiously on interest rate cuts. Consumer prices rose by an annual 2.3% in October, pushed up almost entirely by an increase in regulated domestic energy tariffs, after a …

Fears Budget, Ukraine war and global trade tensions could spark fresh cost of living crisis after inflation spikes to 2.3% in October - more than expected and above BoE's target
1 month, 2 weeks ago

Fears Budget, Ukraine war and global trade tensions could spark fresh cost of living crisis after inflation spikes to 2.3% in October - more than expected and above BoE's target

Daily Mail  

Inflation spiked to 2.3 per cent in October as fears grow over the impact of the Budget, Ukraine war and global trade tensions. Inflation spiked to 2.3 per cent in October as fears grow over the impact of the Budget and global trade tensions The effects of the huge borrowing and spending splurge by Rachel Reeves have also yet to …

Inflation drops: What got cheaper and what cost more in September
2 months, 3 weeks ago

Inflation drops: What got cheaper and what cost more in September

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. Other products seeing a switch from rising to falling prices include pizzas and quiches, …

Interest rate cut ‘nailed on’ after UK inflation falls to three-year low
2 months, 3 weeks ago

Interest rate cut ‘nailed on’ after UK inflation falls to three-year low

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 A fall in UK inflation …

Inflation steady – but chances of another rate cut are slim
3 months, 3 weeks ago

Inflation steady – but chances of another rate cut are slim

The Independent  

Let’s start with the good news: August’s inflation number came in unchanged at 2.2 per cent. While that is higher than the Bank of England’s 2 per cent target, it is in line with City forecasts and beneath the 2.4 per cent the Bank itself had predicted at this stage. One thing to watch is the cost of services – …

Inflation climbs above Bank of England target in first rise of 2024
4 months, 3 weeks ago

Inflation climbs above Bank of England target in first rise of 2024

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 has risen for the …

Pound bounces to year-high versus dollar after inflation holds at 2%
5 months, 3 weeks ago

Pound bounces to year-high versus dollar after inflation holds at 2%

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. On Wednesday, the pound lifted to its highest against …

UK inflation stays at 2% target in June, leaving rate cut on a 'knife edge'
5 months, 3 weeks ago

UK inflation stays at 2% target in June, leaving rate cut on a 'knife edge'

Hindustan Times  

Inflation in the U.K. held steady at the Bank of England's target rate of 2% in the year to June, official figures showed Wednesday, in a development that could be enough for policymakers to cut borrowing costs next month. Grocery price inflation fell to its lowest level since September 2021 in a further sign of easing cost pressures, ahead of …

UK inflation rate back down to 2%
6 months, 2 weeks ago

UK inflation rate back down to 2%

China Daily  

FILE PHOTO: A tourist shelters from the rain under an Union Jack umbrella near the Bank of England in the City of London financial district in London, Britain, February 13, 2024. The United Kingdom's ruling Conservative Party got some rare good news on Wednesday, when the country's inflation rate eased back down to the Bank of England's 2 percent target …

UK inflation falls to Bank of England's 2% target rate for first time in nearly 3 years
6 months, 2 weeks ago

UK inflation falls to Bank of England's 2% target rate for first time in nearly 3 years

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 U.K. returned …

Relief for Brits as wages outstrip inflation by biggest margin since 2021 despite signs jobs market is weakening… but inactivity crisis deepens
8 months, 3 weeks ago

Relief for Brits as wages outstrip inflation by biggest margin since 2021 despite signs jobs market is weakening… but inactivity crisis deepens

Daily Mail  

Brits have been offered some much-needed relief as figures showed wages outstripping inflation by the biggest margin in two and a half years. Regular pay rose by 2.1 per cent year-on-year in real terms in the three months to February. The Office for National Statistics said the jobless rate jumped to 4.2 per cent in the three months to February …

UK inflation rate slows to lowest level for more than two years
1 year ago

UK inflation rate slows to lowest level for more than two years

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 UK inflation eased back to its lowest level for more …

UK inflation falls by more than anticipated to 2-year low of 3.9% in November
1 year ago

UK inflation falls by more than anticipated to 2-year low of 3.9% in November

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 U.K. as …

Inflation cooled to 5% in September
1 year, 2 months ago

Inflation cooled to 5% in September

The Hindu  

India’s retail inflation eased from 6.83% in August to 5.02% in September, breaking a two-month streak over the tolerance threshold of the Reserve Bank of India, with the rise in food prices easing to 6.6% from almost 10%. Rural inflation stood at 5.33% in September, compared to 7% in August, while the price rise faced by urban consumers moderated more …

Pakistan’s Shopkeepers Observe Nationwide Strike over Inflation, Soaring Electricity Bills
1 year, 4 months ago

Pakistan’s Shopkeepers Observe Nationwide Strike over Inflation, Soaring Electricity Bills

News 18  

Thousands of Pakistan traders shuttered their shops on Saturday, striking over soaring energy and fuel bills stirring widespread discontent ahead of national elections. “Everyone is participating because the situation has become unbearable now,” Lahore’s Township Traders Union president Ajmal Hashmi told AFP. “Some relief must be given so people can put food on the table.” Traders wield immense power in …

UK inflation falls to 17-month low of 6.8% but unlikely to derail another interest rate rise
1 year, 4 months ago

UK inflation falls to 17-month low of 6.8% but unlikely to derail another interest rate rise

Associated Press  

LONDON — The rate of inflation in the U.K. fell sharply in July to a 17-month low largely on the back of lower energy prices, official figures showed Wednesday, a welcome development for hard-pressed households struggling during the cost of living crisis. The Office for National Statistics said the annual rate of inflation, as measured by the consumer price index, …

RBI Monetary Policy: FY24 Inflation Forecast Raised To 5.4 Per Cent On Higher Vegetable Prices
1 year, 4 months ago

RBI Monetary Policy: FY24 Inflation Forecast Raised To 5.4 Per Cent On Higher Vegetable Prices

ABP News  

Reserve Bank of India Governor Shaktikanta Das on Thursday during his address on the Monetary Policy Committee's said that the rate setting panel has made an upward revision to its inflation forecast for 2023-24, raising it by 30 basis points to 5.4 per cent. Driving the full-year inflation forecast hike was that for the second quarter, which is now seen …

UK inflation falls as prices rise less than expected
1 year, 5 months ago

UK inflation falls as prices rise less than expected

The Independent  

Sign up for the View from Westminster email for expert analysis straight to your inbox Get our free View from Westminster email Get our free View from Westminster email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Mr Ramsden said if there is evidence of “more persistent” inflation ahead of the Bank’s …

Retailers are profiteering from bumped up petrol prices, Andrew Bailey says
1 year, 6 months ago

Retailers are profiteering from bumped up petrol prices, Andrew Bailey says

The Telegraph  

Pay growth accelerated again last month in a fresh challenge to Mr Bailey’s efforts to bring down inflationary pressures ravaging the economy. Last month, Mr Bailey blamed “unsustainable” pay rises and companies “seeking to rebuild profit margins” for helping to stoke inflation. Chiefs told the Bank of England’s monthly Decision Maker Panel survey that the prices they charged customers were …

Pakistan inflation eases for the first time in seven months
1 year, 6 months ago

Pakistan inflation eases for the first time in seven months

Al Jazeera  

Government figures show year-on-year inflation at 29.4 percent, compared with a record 38 percent in May. Pakistan’s headline inflation eased for the first time in seven months in June, figures show – a bright spot for a beleaguered government that must call an election this year. Year-on-year inflation was 29.4 percent last month, Pakistan Bureau of Statistics data showed on …

‘The monster is out of its cage’: how Brexit set inflation loose to feed on Britain
1 year, 6 months ago

‘The monster is out of its cage’: how Brexit set inflation loose to feed on Britain

The Independent  

The best of Voices delivered to your inbox every week - from controversial columns to expert analysis Sign up for our free weekly Voices newsletter for expert opinion and columns Sign up to our free weekly Voices newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy We’ve all …

Explained: Why Britain is experiencing more inflation than the EU and the US
1 year, 7 months ago

Explained: Why Britain is experiencing more inflation than the EU and the US

Firstpost  

The negative economic shock of Brexit, as well as the UK’s reliance on its financial services sector, are factors exacerbating the country’s inflationary troubles Britain has a bigger inflation problem than either the US or the eurozone, according to Bank of England policymaker Catherine Mann. The UK rate is also nearly double the equivalent US rate and significantly higher than …

Pakistan inflation at record 36.4% in April, highest since 1964
1 year, 8 months ago

Pakistan inflation at record 36.4% in April, highest since 1964

Live Mint  

Inflation in Pakistan surged to a record level in April on higher food prices, weaker currency and rising energy costs. Consumer prices rose to 36.4% in April from a year earlier, the highest since 1964, the statistics bureau said on Tuesday. The bureau said Pakistan's rural areas recorded food inflation of 40.2%. Pakistan’s finance ministry said headline inflation was expected …

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 …

Pakistan posts highest-ever annual inflation; stampedes for food kill 16
1 year, 9 months ago

Pakistan posts highest-ever annual inflation; stampedes for food kill 16

The Hindu  

Consumer price inflation in Pakistan jumped to a record 35.37% in March from a year earlier, the statistics bureau said on Saturday, as at least 16 people were killed in stampedes for food aid. The March inflation number eclipsed February's 31.5%, the bureau said, as food, beverage and transport prices surged up to 50% year-on-year. A spokesman at the statistics …

Pakistan records highest inflation rate in past 53 years; crosses 36 pc mark
1 year, 9 months ago

Pakistan records highest inflation rate in past 53 years; crosses 36 pc mark

India TV News  

Pakistan inflation: Amid the gloomy economy, Pakistan on Saturday registered a record jump in the inflation rate, with the tally reaching nearly 36 per cent. The data released on April 1 marked the highest Consumer Price Index increase on record since July 1965, according to the investment firm Arif Habib Corporation. The short-term rate of inflation measured by the Sensitive …

UK inflation jumps to 10.4%, surprising analysts
1 year, 9 months ago

UK inflation jumps to 10.4%, surprising analysts

Associated Press  

LONDON — U.K. inflation accelerated for the first time in four months in February as high food and energy prices hit consumers battered by the nation’s cost-of-living crisis. “February’s surprise increase in inflation will raise more concerns for households whose budgets are already stretched to their limits,” said George Dibb of the Institute for Public Policy Research, a progressive think …

UK inflation jumps to 10.4%, surprising analysts
1 year, 9 months ago

UK inflation jumps to 10.4%, surprising analysts

Firstpost  

While economists expect prices to drop rapidly later this year, inflation is more than five times higher than the Bank of England’s 2% target London: Britain’s inflation rate rose for the first time in four months in February, surprising analysts and increasing pressure on the Bank of England to raise interest rates at its meeting on Thursday. The consumer price …

Nothing is cheap, nothing: Pakistan's inflation at 58-year high, a record
1 year, 10 months ago

Nothing is cheap, nothing: Pakistan's inflation at 58-year high, a record

Hindustan Times  

Monthly inflation jumped to 31.6% in February year-on-year, Pakistan Bureau of Statistics said. In February, prices rose at the fastest pace ever in Pakistan's history, data showed which comes as food and transport costs drove up inflation to a point where analysts fear "families will have to make choices and sacrifices," Pakistan's Dawn reported. In February, prices rose 4.3 per …

Pakistan’s CPI soars to highest rate in nearly 50 years
1 year, 10 months ago

Pakistan’s CPI soars to highest rate in nearly 50 years

Al Jazeera  

Soaring food, beverage and transport costs push consumer price index to 31.5 percent in February, highest rate since 1974. Pakistan’s consumer price index jumped 31.5 percent in February year-on-year, the statistics bureau says, the highest annual rate in nearly 50 years, as food, beverage and transportation prices surged more than 45 percent. February’s rate is the highest since 1974 when …

UK inflation falls again, raising hopes prices will plunge
1 year, 10 months ago

UK inflation falls again, raising hopes prices will plunge

Associated Press  

LONDON — Britain’s inflation rate fell for a third consecutive month in January, boosting optimism that the cost-of-living crisis has peaked and prices will fall sharply later this year. The Bank of England forecasts prices will fall rapidly in the second half of this year as energy costs begin to moderate and price increases triggered by Russia’s invasion of Ukraine …

Pakistan inflation rises to 48-year-high of 27.55%: Report
1 year, 11 months ago

Pakistan inflation rises to 48-year-high of 27.55%: Report

Hindustan Times  

Pakistan’s inflation quickened to the fastest in almost 48 years in January as thousands of containers of food items, raw materials and equipment are stuck in ports after the cash-strapped government curtailed imports. The latest reading comes a week after the State Bank of Pakistan increased its benchmark rate to the highest in more than 24 years to help stabilize …

‘Must stick to plan to bring down nightmare inflation,’ says UK finance minister Jeremy Hunt
1 year, 11 months ago

‘Must stick to plan to bring down nightmare inflation,’ says UK finance minister Jeremy Hunt

Firstpost  

Inflation in the United Kingdom eased slightly last month after hitting a 41-year high in October, providing some relief to the Bank of England. The pressure on households, however, remained intense as food and drink prices climbed at the fastest pace since 1977, according to government data London: British finance minister Jeremy Hunt on Wednesday indicated that the UK government …

UK inflation eases for a 2nd month, falling to 10.5%
1 year, 11 months ago

UK inflation eases for a 2nd month, falling to 10.5%

Associated Press  

LONDON — U.K. inflation eased for a second month in December, boosting confidence that the cost-of-living crisis has peaked. “While any fall in inflation is welcome, we have a plan to go further and halve inflation this year, reduce debt and grow the economy — but it is vital that we take the difficult decisions needed and see the plan …

Inflation falls for the second month in a row
1 year, 11 months ago

Inflation falls for the second month in a row

The Telegraph  

Overall, transport costs are now rising more slowly than they did before the war in Ukraine and have been falling for six months. There’s little sign of respite for shoppers though, as food prices continue to soar and remain at a 45-year high. They reached 16.9pc in the 12 months to December, when using the more detailed measure of inflation …

Pakistan registers record inflation, struggles with high prices
2 years ago

Pakistan registers record inflation, struggles with high prices

Firstpost  

Islamabad: The annual inflation of Pakistan measured by the Consumer Price Index was recorded at an unusually high level of 24.5 per cent in December 2022. According to data shared by the Pakistan Bureau of Statistics, inflation in Pakistan rose 0.5 per cent on a month-on-month basis during December 2022, compared to a 0.76 per cent increase in November last …

UK inflation eases but little relief at near 40-year high
2 years ago

UK inflation eases but little relief at near 40-year high

Associated Press  

LONDON — U.K. inflation has eased but is still stuck near a 40-year high, piling pressure on employers to boost wages as the nation faces a wave of strikes and the Bank of England to approve a ninth consecutive interest rate increase. While annual consumer price inflation dipped to 10.7% in November from 11.1% the previous month, it is at …

UK inflation falls from 41-year high, easing more than expected
2 years ago

UK inflation falls from 41-year high, easing more than expected

Hindustan Times  

UK inflation dipped from a 41-year high in November, raising the possibility that the worst of the cost-of-living squeeze is over. “While these figures suggest inflation has peaked, it nevertheless remains at a precariously high rate which is having a real impact on people and businesses,” said Suren Thiru, economics director at the Institute of Chartered Accountants in England & …

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 …

UK inflation accelerates to 41-year high of 11.1%
2 years, 1 month ago

UK inflation accelerates to 41-year high of 11.1%

Associated Press  

LONDON — 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 and energy drove Britain’s inflation rate to the highest since October 1981, the ONS said. “Tomorrow I will set out a …

UK inflation accelerates to 41-year high of 11.1%
2 years, 1 month ago

UK inflation accelerates to 41-year high of 11.1%

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 Britain’s inflation rate rose to …

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