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 & Wales. “With inflationary pressures looking more broad-based, the pace of easing is likely to be slow.” Core inflation, which excludes energy, food, alcohol and tobacco prices, eased to 6.3% growth from 6.5% in October. “Tobacco and clothing prices also rose, but again by less than we saw this time last year,” said Grant Fitzner, chief economist at the ONS. “This was partially offset by prices in restaurants, cafes and pubs which went up this year compared to falling a year ago.” Policymakers are expected to deliver their ninth rate increase in borrowing costs in a year on Thursday in an effort to stop a wage-price spiral from taking hold, with further hikes signaled in the first half of 2023.

Inflation Prices Ons Uk Inflation High Rate  energy  pubs  high  rate  restaurants  rose  expected  inflation  41year  falls  food  easing  prices  uk

History of this topic

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

U.K. Inflation rises further above Bank of England's target in November
3 weeks, 1 day 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, 1 day 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 …

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 …

Grocery inflation rises as supermarket trips hit four-year high
1 month, 3 weeks ago

Grocery inflation rises as supermarket trips hit four-year high

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. Supermarket prices were 2.3% higher than a year ago last month, up slightly on …

A Third of UK Prices Basket Is in Deflation, Analysis Finds
2 months ago

A Third of UK Prices Basket Is in Deflation, Analysis Finds

Live Mint  

A third of Britain’s official “shopping basket” has slipped into deflation, providing another green light for the Bank of England to cut interest rates. The analysis of the UK inflation basket suggests that the cooling in price pressures is at least for now becoming more widespread, welcome news for Prime Minister Keir Starmer’s new Labour government. “Firms are more reluctant …

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 …

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 …

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 …

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 …

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 …

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

UK inflation at lowest level in 3 yrs
7 months, 2 weeks ago

UK inflation at lowest level in 3 yrs

China Daily  

By Jonathan Powell in London | China Daily Global | Updated: 2024-05-23 02:55 Prices of food are displayed at the Borough Market as the UK inflation rates fall by less than expected in London, Britain on May 22. Inflation in the United Kingdom dropped from 3.2 percent in March to 2.3 percent in April, reaching its lowest level in almost …

Inflation is down – but good news for homeowners will have to wait
7 months, 2 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 …

UK inflation falls less than expected to 2.3% in April
7 months, 2 weeks ago

UK inflation falls less than expected to 2.3% in April

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. Economists think that the higher-than-expected inflation figures make it …

UK inflation lowest in 3 years. Prime Minister Sunak makes it a focus in election call for July 4
7 months, 2 weeks ago

UK inflation lowest in 3 years. Prime Minister Sunak makes it a focus in election call for July 4

Associated Press  

LONDON — Inflation in the U.K. fell sharply to its lowest level in nearly three years in April on the back of big declines in domestic bills, official figures showed Wednesday. “While it’s clearly good news headline inflation is back to normal levels, it is disappointing that price pressures haven’t fallen further and that measures of services inflation are proving …

UK inflation falls to lowest level since late 2021 as food prices ease further
8 months, 3 weeks ago

UK inflation falls to lowest level since late 2021 as food prices ease further

Associated Press  

LONDON — Inflation in the U.K. fell to its lowest level in two and a half years in March after a further easing in food prices, official figures showed Wednesday, a development which could further pave the way for a welcome cut in interest rates soon. Inflation is set to fall further in April, possibly to below 2%, as a …

Bailey predicts ‘strong drop’ in inflation next month
8 months, 3 weeks ago

Bailey predicts ‘strong drop’ in inflation next month

The Telegraph  

Mr Bailey sought to allay concerns that the Bank of England would keep interest rates at 5.25pc for longer amid fear over persistent price rises. Speaking at an event in Washington organised by the Institute of International Finance, he said: “We’re actually pretty much on track for where we thought we will be in February.” It suggests that the Bank’s …

Battle for customers drives down UK shop inflation
9 months ago

Battle for customers drives down UK shop inflation

China Daily  

Competition for customers between retailers has played a big part in shop price inflation in the United Kingdom falling to its lowest level in two years, newly published figures have revealed. Food inflation dropped from 5 percent to 3.7 percent, and non-food inflation plummeted down from 1.3 percent to 0.2 percent, as retailers battled to win over customers who have …

What does the steep fall in inflation mean for UK households?
9 months, 2 weeks ago

What does the steep fall in inflation mean for UK 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. Read our privacy policy Cash-strapped households have been given …

Grocery inflation sees fastest monthly drop as households spend all-time high
1 year ago

Grocery inflation sees fastest monthly drop as households spend all-time high

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 Supermarket inflation has seen its …

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 …

Wholesale inflation in US slowed further last month, signaling that price pressures continue to ease
1 year ago

Wholesale inflation in US slowed further last month, signaling that price pressures continue to ease

Associated Press  

Wholesale inflation in the United States was unchanged in November, suggesting that price increases in the economy’s pipeline are continuing to gradually ease. The Labor Department reported Wednesday that its producer price index — which tracks inflation before it reaches consumers — was flat from October to November after having fallen 0.4% the month before. Excluding volatile food and energy …

U.S. inflation eased in October, cooling cost of gas, cars and airfares
1 year, 1 month ago

U.S. inflation eased in October, cooling cost of gas, cars and airfares

LA Times  

Prices either fell or rose slowly in October across a broad range of goods and services, including gas, new and used cars and hotel rooms. Inflation in the United States slowed last month in a sign that the Federal Reserve’s interest rate hikes are continuing to cool the consumer price spikes that have bedeviled consumers for the last two years. …

Retail inflation further eases to four-month low of 4.87%
1 year, 1 month ago

Retail inflation further eases to four-month low of 4.87%

India Today  

Retail inflation declined to a four-month low of 4.87 per cent in October due to further drop in food prices, showed government data released on Thursday. This marks the second consecutive month when the consumer price index or CPI-based inflation has remained within the Reserve Bank of India’s comfort zone of below 6 per cent. The inflation based on the …

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, …

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 …

UK Inflation dips below expectations, reaches 15-month low of 7.9%
1 year, 5 months ago

UK Inflation dips below expectations, reaches 15-month low of 7.9%

Live Mint  

In a big relief to struggling households, inflation in the UK has sharply fallen below expected levels to 7.9%, official figures revealed on Wednesday. According to the National Statistics, the inflation rate, as measured by the consumer prices index, tumbled to 7.9% in the year to June from 8.7% the previous month. Even though the drop in inflation is more …

UK homeowners get some respite as inflation falls by more than anticipated to a 15-month low
1 year, 5 months ago

UK homeowners get some respite as inflation falls by more than anticipated to a 15-month low

Associated Press  

LONDON — Inflation in the U.K. has fallen by more than anticipated to a 15-month low, official figures showed Wednesday, a development that offered struggling households hope that interest rates won’t rise as much as feared over the coming months. Although Dave Ramsden, deputy governor at the Bank of England, said inflation is still “much too high,” analysts said the …

Grocery price inflation show biggest drop since March peak
1 year, 5 months ago

Grocery price inflation show biggest drop since March peak

The Independent  

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UK recession fears mount after Bank of England hikes borrowing rates by more than expected
1 year, 6 months ago

UK recession fears mount after Bank of England hikes borrowing rates by more than expected

Associated Press  

LONDON — Fears that the British economy is heading for recession mounted sharply Thursday after the Bank of England raised borrowing costs by more than anticipated, seeking to combat stubbornly high inflation with a hike that will hit borrowers hard, particularly homeowners who have to refinance in the coming months. “But if we don’t raise rates now, it could be …

‘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 …

UK inflation steady at 8.7% against predictions for modest fall
1 year, 6 months ago

UK inflation steady at 8.7% against predictions for modest fall

Hindustan Times  

Consumer price inflation across the UK was unchanged at 8.7 per cent in the year to May against expectations for a modest decline, official figures showed on Wednesday, a development that is set to see the Bank of England raise the cost of borrowing again. Financial markets think news of the unchanged rate will mean the Bank of England will …

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 …

Europe sees inflation drop to 6.1%, but real relief for consumers will take months
1 year, 7 months ago

Europe sees inflation drop to 6.1%, but real relief for consumers will take months

Associated Press  

FRANKFURT, Germany — Europe’s inflation took a positive turn with a significant drop to 6.1%, but prices are still posing a pinch to shoppers who are yet to see real relief in what they pay for food and other necessities. “Otherwise, you sometimes make impulse purchases.” The food bank at Berlin’s St. Wilhelm Roman Catholic Church, meanwhile, has gone from …

UK inflation falls to lowest level in over a year but food prices keep decline in check
1 year, 7 months ago

UK inflation falls to lowest level in over a year but food prices keep decline in check

Associated Press  

LONDON — Inflation in the U.K. has fallen to its lowest level since the immediate aftermath of Russia’s invasion of Ukraine, though elevated food prices meant it didn’t fall as much as anticipated. “The rate of inflation fell notably as the large energy price rises seen last year were not repeated this April, but was offset partially by increases in …

U.K. inflation falls to lowest level in more than a year, but food prices remain high
1 year, 7 months ago

U.K. inflation falls to lowest level in more than a year, but food prices remain high

LA Times  

Official figures show that inflation in Britain has fallen to its lowest level since the immediate aftermath of Russia’s invasion of Ukraine. Inflation in Britain has fallen to its lowest level since the immediate aftermath of Russia’s invasion of Ukraine, though elevated food prices mean that it didn’t fall as much as anticipated. One of the main reasons why inflation …

UK inflation: Why are food prices rising so much?
1 year, 8 months ago

UK inflation: Why are food prices rising so much?

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. But food prices increased to 15.7 per cent, the highest …

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 …

UK inflation stays at 10% as bread rises at record clip. Here’s why it’s proving hard to beat
1 year, 8 months ago

UK inflation stays at 10% as bread rises at record clip. Here’s why it’s proving hard to beat

CNN  

London CNN — UK inflation remained above 10% in March, far higher than in the United States and Europe, as bread prices rose at a record pace. “Energy has been the UK’s Achilles’ heel in terms of inflation for the last year,” said Martin Beck, chief economic adviser to the EY ITEM Club. Because the UK has been exposed to …

US wholesale inflation pressures eased sharply last month
1 year, 8 months ago

US wholesale inflation pressures eased sharply last month

Associated Press  

WASHINGTON — U.S. wholesale prices fell in March, a sign that inflationary pressures in the economy are easing more than a year after the Federal Reserve began aggressively raising interest rates. But even excluding volatile food and energy prices, so-called core wholesale inflation fell 0.1% in March, the first such drop in nearly three years. Wholesale inflation has come down …

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 …

This number shows that high inflation is sticking around
1 year, 10 months ago

This number shows that high inflation is sticking around

CNN  

London CNN — The latest inflation figures from the United States, the United Kingdom and the European Union are feeding hopes that the worst is over and some relief for struggling households could arrive soon. In the United States, the Federal Reserve Bank of Atlanta publishes a version of the Consumer Price Index that tracks “sticky” prices. It’s based on …

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 …

Retailers suffer disappointing January as consumers brace for more bill rises
1 year, 11 months ago

Retailers suffer disappointing January as consumers brace for more bill 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. Many retailers discounted heavily to entice consumer spend, and while there were bargains to …

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