Inflation set to rise above 2% in first increase this year
5 months ago

Inflation set to rise above 2% in first increase this year

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 is set to rise for the first time in 2024 this week, in new data which highlights the battle facing the Bank of England to keep prices in check. Economists expect official figures on Wednesday to show that inflation rose above the Bank’s 2% target in July, driven in part by holiday-related price rises for airfares and hotels. The Bank has said it expects inflation to rise to about 2.75% in the second half of this year, amid persistent price rises in the service sector and strong wage growth across the jobs market. Ms Mann, an external member of the Bank’s Monetary Policy Committee, said she is concerned that inflation could rise again soon, pointing to survey evidence that suggests companies expect to increase wages and prices.

Inflation Bank Prices Price Month This Year Rise Ons  rise  prices  months  sign  increase  set  bank  month  price  breaking  strong  inflation

History of this topic

Unexpected respite for Starmer as UK inflation slows against predictions by economists
24 minutes ago

Unexpected respite for Starmer as UK inflation slows against predictions by economists

Firstpost  

The annual rate of inflation edged down to 2.5% in December from 2.6% in November, the Office for National Statistics said British inflation slowed unexpectedly last month and core measures of price growth - tracked by the Bank of England - fell more sharply, according to official data that will be welcomed by finance minister Rachel Reeves after a market …

Inflation unexpectedly falls to 2.5% in boost for Reeves’s plans
Trending News
1 hour, 51 minutes ago

Inflation unexpectedly falls to 2.5% in boost for Reeves’s plans

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. Chief secretary to the Treasury Darren Jones said the …

Inflation hits 4.1% as taxes, rent and energy increase in price
1 week, 1 day ago

Inflation hits 4.1% as taxes, rent and energy increase in price

Dutch News  

Inflation rose marginally to 4.1% in December, according to an initial estimate from the national statistics agency CBS. Increased taxes on tobacco and alcohol, rent rises, and an increase in energy prices are behind the rise, the CBS said. The December rise puts inflation over 2024 as a whole at 3.3%, in line with 2023. Employers’ organisation AWVN said in …

UK interest rates set to be held at 4.75% after inflation rises again
3 weeks, 6 days ago

UK interest rates set to be held at 4.75% after inflation rises again

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 UK interest rates are expected …

Inflation is up again – and this time, it’s fired by ‘greedflation’
3 weeks, 6 days ago

Inflation is up again – and this time, it’s fired by ‘greedflation’

The Independent  

With inflation jumping to 2.6 per cent, is it time to start discussing “greedflation”? The increase to 2.6 per cent in the Consumer Prices Index for the year to November, compares with October’s 2.3 per cent. The number dipped below the Bank of England’s 2 per cent target as recently as September when it came in at 1.7 per cent. …

Where inflation accelerated in November – and where it eased
3 weeks, 6 days ago

Where inflation accelerated in November – and where it eased

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. Some products swung the other way last month, from …

Inflation analysis: Prices rising faster means higher borrowing costs for longer amid recession fears
3 weeks, 6 days ago

Inflation analysis: Prices rising faster means higher borrowing costs for longer amid recession fears

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. The faster price gains for consumer goods like food …

UK inflation increases as cigarettes and petrol drive price rises
4 weeks ago

UK inflation increases as cigarettes and petrol drive price rises

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. Chancellor of the Exchequer Rachel Reeves said the figures are a “reminder that for …

What does rising inflation mean for you - and has it killed off a Bank of England interest rate cut?
4 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
4 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
4 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
4 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 …

US inflation rose for second straight month: What are the challenges for Trump now?
1 month ago

US inflation rose for second straight month: What are the challenges for Trump now?

Firstpost  

President-elect Donald Trump has made tackling inflation and reducing the cost of living a cornerstone of his campaign. However, the recent uptick in inflation suggests the road ahead may be more complex than anticipated Inflation in the United States ticked up for the second consecutive month in November. The consumer price index, a key measure of inflation, rose to 2.7 …

US inflation ticked up last month as some price pressures remain persistent
Trending News
1 month ago

US inflation ticked up last month as some price pressures remain persistent

Associated Press  

WASHINGTON — Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Though inflation is now way below its peak of 9.1% in June 2022, average prices are still about 20% higher than they were three years ago — a major …

U.S. inflation ticked up last month as some price pressures persist
1 month ago

U.S. inflation ticked up last month as some price pressures persist

LA Times  

Fueled by pricier used cars, hotel rooms and groceries, inflation in the United States moved slightly higher last month in the latest sign that some price pressures remain elevated. Though inflation is now way below its peak of 9.1% in June 2022, average prices are still about 20% higher than they were three years ago — a major source of …

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

Soft landing? Not so fast: Inflation heated back up in October
1 month, 2 weeks ago

Soft landing? Not so fast: Inflation heated back up in October

CNN  

CNN — The Federal Reserve’s favored inflation gauge just moved in the wrong direction. “The big picture is inflation is still a risk; that hasn’t changed,” Elizabeth Renter, senior economist at NerdWallet, told CNN in an interview. “The disinflationary trend that we saw earlier this year has effectively stalled as we head into what’s likely going to be a bumpy …

Energy costs push UK inflation to 2.3 percent
1 month, 3 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 …

The shock rise in inflation spells bad news for mortgages
1 month, 3 weeks ago

The shock rise in inflation spells bad news for mortgages

The Independent  

A mere month after inflation undershot the Bank of England’s 2 per cent target, it’s back up again – in the sharpest spike in two years. The Consumer Prices Index jumped to 2.3 per cent in October, against 1.7 per cent the previous month, dealing a death blow to any hopes of a second straight interest rate cut in December. …

UK inflation hits six-month high of 2.3% on high energy bills; BoE stresses on gradual rate cuts
1 month, 3 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 …

What rising inflation means for you: HUGO DUNCAN on why it dashes hopes of a Christmas Bank of England rate cut
1 month, 3 weeks ago

What rising inflation means for you: HUGO DUNCAN on why it dashes hopes of a Christmas Bank of England rate cut

Daily Mail  

There will be no early Christmas present from the Bank of England. The jump in inflation announced today – from 1.7 per cent in September to 2.3 per cent in October – has dashed any lingering hopes of another interest rate cut this year. Inflation spiked to 2.3 per cent in October as fears grow over the impact of the …

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, 3 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 set to rebound after jump in energy bills
1 month, 3 weeks ago

Inflation set to rebound after jump in energy bills

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 UK inflation is expected to …

Inflation set to rebound after jump in energy bills
1 month, 3 weeks ago

Inflation set to rebound after jump in energy bills

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 UK inflation is expected to …

US inflation rises 2.6% YoY in first annual acceleration since March; Wall Street sees fewer rate cuts in 2025
2 months ago

US inflation rises 2.6% YoY in first annual acceleration since March; Wall Street sees fewer rate cuts in 2025

Live Mint  

US inflation ticked higher in October 2024 amid higher costs for shelter after having slowed in September to their lowest pace since 2021, which led Wall Street to lower its bets for the US Federal Reserve's definite interest rate cuts in 2025. US consumer price index rose 2.6 per cent from a year earlier, up from 2.4 per cent in …

Inflation hit a bump in October after slowing for six straight months
2 months ago

Inflation hit a bump in October after slowing for six straight months

CNN  

CNN — The annual rate of inflation moved higher last month for the first time since March, as expected — but economists say the underlying trend remains favorable for another round of interest rate cuts. Consumer prices rose 0.2% last month and were up 2.6% from the year before, according to the latest Consumer Price Index data released Wednesday by …

U.S. inflation rose slightly last month after 2 years of steady cooling but remained low
2 months ago

U.S. inflation rose slightly last month after 2 years of steady cooling but remained low

LA Times  

Inflation in the United States ticked up in October, driven by costlier rents, used cars and air fares, a sign that price increases might be leveling off after having slowed in September to their lowest pace since 2021. Consumer inflation, which peaked at 9.1% in 2022, has since fallen steadily, though overall prices are still about 20% higher than they …

Inflation set to stay above 2% for next four years, says OBR
2 months, 2 weeks ago

Inflation set to stay above 2% for next four years, says OBR

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 UK inflation is set to …

Interest rate cut ‘nailed on’ after UK inflation falls to three-year low
2 months, 4 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 …

Column: American economists and consumers got inflation wrong during its recent surge. They still do
3 months, 2 weeks ago

Column: American economists and consumers got inflation wrong during its recent surge. They still do

LA Times  

Sen. JD Vance tried to blame the $4 price of a dozen eggs on Kamala Harris in this campaign video. The “strong policy response” Powell referred to was the Fed’s raising of short-term interest rates 11 times, a total of 5.25 percentage points, from March 2022 through July 2023. In November 2021, however, Powell told Congress that it was “probably …

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 – …

How will inflation affect Labour’s plans for the economy?
3 months, 3 weeks ago

How will inflation affect Labour’s plans for the economy?

The Independent  

It’s early days, obviously, but one of the factors that helps any government “deliver” and win re-election is a healthy economy. Having repeatedly stated that they inherited the worst economic situation since the war – albeit a highly tendentious claim – Labour undoubtedly faces a challenge in achieving the electorally magical combination of low inflation, high employment, rising living standards, …

US inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates
4 months ago

US inflation reaches a 3-year low as Federal Reserve prepares to cut interest rates

Politico  

For months, cooling inflation has provided gradual relief to America’s consumers, who were stung by the price surges that erupted three years ago, particularly for food, gas, rent and other necessities. A key reason for last month’s drop in overall inflation was the third decline in gas prices in the past four months: Average gas prices fell 0.6% from July …

Inflation below 3 percent for the first time since 2021
5 months ago

Inflation below 3 percent for the first time since 2021

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Inflation has dropped below 3 percent for the first time …

Inflation climbs above Bank of England target in first rise of 2024
5 months 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 …

Why the rise in inflation might actually be... good news
5 months ago

Why the rise in inflation might actually be... good news

The Independent  

Inflation is up… and that’s, erm, good news. A small cut in the Bank rate from the current 5 per cent to, say, 4.75 per cent in September, October or November is slightly more likely now than it seemed yesterday. Prices overall on this definition rose by 3.3 per cent in the year to July 2024 – down from 3.5 …

What rising inflation means for you and what happens next
5 months 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 …

Inflation rises to 2.2% for first time this year in blow to interest rate cut next month
5 months ago

Inflation rises to 2.2% for first time this year in blow to interest rate cut next month

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 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. However, despite the smaller than …

Inflation ticks up in Europe, complicating the European Central Bank’s next move
5 months, 2 weeks ago

Inflation ticks up in Europe, complicating the European Central Bank’s next move

Associated Press  

FRANKFURT, Germany — Inflation in the 20 countries that use the euro ticked up to 2.6% in July, stubbornly above the European Central Bank’s target and complicating the ECB’s next decision on whether to cut interest rates and boost growth as the economy struggles to stage a convincing recovery after a long stretch of stagnation. Services inflation, a figure closely …

UK inflation stays at 2% despite surge in hotel prices
5 months, 4 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 …

UK inflation stays at 2% target in June, leaving rate cut on a 'knife edge'
5 months, 4 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 …

31%: The surge in food prices irking voters in the UK election
6 months, 1 week ago

31%: The surge in food prices irking voters in the UK election

Al Jazeera  

The cost of living is a key issue in an election expected to end 14 years of Conservative Party governance. While inflation has finally returned to the central bank’s target of 2 percent after hitting double-digit highs in 2022 and 2023, people are still paying much more for essentials, including food, than they were just a few years ago. Food …

UK inflation rate back down to 2%
6 months, 3 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 …

Inflation drops to Bank of England’s 2% target for first time in almost three years
6 months, 3 weeks ago

Inflation drops to Bank of England’s 2% target for first time in almost three 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 Inflation has fallen back to the 2 per cent target …

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

US inflation eases to 3.3% in May, defying expectations for slight rise
7 months ago

US inflation eases to 3.3% in May, defying expectations for slight rise

Hindustan Times  

Stock markets surged Wednesday after data showed US inflation slowed in May, raising hopes the Federal Reserve will cut interest rates later this year. "The cool inflation numbers should boost investor confidence for a Fed rate cut in the second half of 2024," said Bret Kenwell, US investment analyst at trading platform eToro. With inflation slowing and other recent data …

An inflation gauge closely tracked by the Federal Reserve rises at slowest pace this year
7 months, 2 weeks ago

An inflation gauge closely tracked by the Federal Reserve rises at slowest pace this year

LA Times  

A price gauge closely tracked by the Federal Reserve cooled slightly last month, a sign that inflation may be easing after running high in the first three months of this year. Inflation fell sharply in the second half of last year before sticking well above the Fed’s 2% target in the first few months of 2024. Friday’s report also showed …

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA
7 months, 2 weeks ago

Inflation rises slightly in April to 3.6pc but economists say that should ring 'alarm bells' for RBA

ABC  

In short: The annual rate of inflation ticked up to 3.6 per cent in April, from 3.5 per cent in March. According to the Australian Bureau of Statistics, an underlying measure of inflation — called "trimmed mean" inflation — also picked up again in April, from 4 per cent to 4.1 per cent. "It does not appear that the RBA …

Inflation is down – but good news for homeowners will have to wait
7 months, 3 weeks ago

Inflation is down – but good news for homeowners will have to wait

The Independent  

Across the economy, price rises slowed significantly in April with the rate of inflation declining to 2.3 per cent from 3.2 per cent. Grant Fitzner, chief economist at the Office for National Statistics, also highlighted tobacco and food price inflation which fell to 2.9 per cent. Service prices have been worrying the Bank’s rate-setting Monetary Policy Committee which voted 7-2 …

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