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
4 months 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 feed through into the statistics 'These were partially offset by falls in recreation and culture, including live music and theatre ticket prices. As it mulls more interest rates cuts, the Bank of England could be worried that closely-watched core CPI - excluding energy, food, alcohol and tobacco - rose 3.3 per cent in the 12 months to October. As it mulls more interest rates cuts, the Bank of England could be worried that closely-watched core CPI - excluding energy, food, alcohol and tobacco - rose 3.3 per cent in the 12 months to October Shadow chancellor Mel Stride said: 'Having brought inflation back down to target, we know how important it is for all of us that the government does the same.

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History of this topic

Relief in the City: the new inflation rate means the BoE could cut rates as soon as next month
Trending News
2 months ago

Relief in the City: the new inflation rate means the BoE could cut rates as soon as next month

The Independent  

Luck has not been with Rachel Reeves. Prices rose by 2.5 per cent in the year to December, above the Bank of England’s 2 per cent target for the Consumer Prices Index but a shade lower than the previous month’s result – and certainly below the expectations of most economists. Better still was the surprisingly sharp fall in the rate …

Inflation unexpectedly falls to 2.5% in boost for Reeves’s plans
Trending News
2 months 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 …

Where inflation accelerated in November – and where it eased
3 months 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 …

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

Inflation heated up last month as consumer prices rose 2.7%, underscoring the slog ahead
3 months, 1 week 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
3 months, 3 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
4 months 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
4 months 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 …

Inflation jumps to 2.3% in sharpest increase for two years
4 months ago

Inflation jumps to 2.3% in sharpest increase for two 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. ONS chief economist Grant Fitzner said: “Inflation rose this …

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

Higher energy bills push UK inflation to 6-month high in October
4 months ago

Higher energy bills push UK inflation to 6-month high in October

Associated Press  

LONDON — Inflation in the U.K. rose sharply to a six-month high in October and back above the rate targeted by rate-setters at the Bank of England, official figures showed Wednesday, cementing market expectations that there will be no further cuts in borrowing costs this year. The Office for National Statistics said higher domestic energy bills pushed up consumer price …

Inflation behaving more like a magician who tricks you again and again
4 months ago

Inflation behaving more like a magician who tricks you again and again

New Indian Express  

The main culprit is food inflation, which jumped to 10.87%, largely led by vegetable prices that rose by a staggering 42.18% in October. As Deputy governor Michael Patra noted, inflation will likely encounter a hump in the near months largely due to an adverse base and one-off shocks to prices of vegetables, edible oils and gram. The fact that inflation …

US inflation rises 2.6% YoY in first annual acceleration since March; Wall Street sees fewer rate cuts in 2025
4 months, 1 week 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
4 months, 1 week 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 …

UK stocks boosted as below-target inflation builds rate cut expectations
5 months ago

UK stocks boosted as below-target inflation builds rate cut expectations

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 stocks enjoyed a boost …

Inflation drops: What got cheaper and what cost more in September
5 months 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, …

U.S. Inflation Reaches Lowest Point Since February 2021
5 months, 1 week ago

U.S. Inflation Reaches Lowest Point Since February 2021

Huff Post  

LOADING ERROR LOADING WASHINGTON — Inflation in the United States dropped last month to its lowest point since it first began surging more than three years ago, adding to a spate of encouraging economic news in the closing weeks of the presidential race. But excluding volatile food and energy costs, “core” prices, a gauge of underlying inflation, remained elevated in …

UK inflation remained unchanged at 2.2% in August
6 months ago

UK inflation remained unchanged at 2.2% in August

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 rate of inflation in the UK has remained unchanged …

Why the rise in inflation might actually be... good news
7 months, 1 week 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 …

Inflation set to rise above 2% in first increase this year
7 months, 1 week 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 …

31%: The surge in food prices irking voters in the UK election
8 months, 2 weeks 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 …

Inflation slowed further in December as an economic ‘soft landing’ moves into sharper focus
1 year, 1 month ago

Inflation slowed further in December as an economic ‘soft landing’ moves into sharper focus

Associated Press  

WASHINGTON — The Federal Reserve’s preferred inflation gauge cooled further last month even as the economy kept growing briskly, a trend sure to be welcomed at the White House as President Joe Biden seeks re-election in a race that could pivot on his economic stewardship. Friday’s government report showed that prices rose just 0.2% from November to December, a pace …

UK inflation rate slows to lowest level for more than two years
1 year, 3 months 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, 3 months 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 …

The world economy will slow next year because of inflation, high rates and war, OECD says
1 year, 3 months ago

The world economy will slow next year because of inflation, high rates and war, OECD says

Associated Press  

WASHINGTON — The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates. China’s “consumption growth will likely remain subdued due to increased precautionary savings, gloomier prospects for employment creation and heightened uncertainty,″ the OECD said. The world economy has endured one shock …

Sunak says ‘fiscal discipline’ will remain despite meeting inflation goal
1 year, 4 months ago

Sunak says ‘fiscal discipline’ will remain despite meeting inflation goal

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 Rishi Sunak has indicated that …

U.S. inflation eased in October, cooling cost of gas, cars and airfares
1 year, 4 months 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. …

Europe’s inflation eased to 2.9% in October thanks to lower fuel prices. But growth has vanished
1 year, 4 months ago

Europe’s inflation eased to 2.9% in October thanks to lower fuel prices. But growth has vanished

Associated Press  

FRANKFURT, Germany — The inflation that has been wearing on European consumers fell sharply to 2.9% in October, its lowest in more than two years as fuel prices fell and rapid interest rate hikes from the European Central Bank took hold. The lower inflation figure follows a rapid series of interest rate hikes by the European Central Bank. The future …

UK shop price inflation at lowest in a year as government advised not to burden businesses
1 year, 4 months ago

UK shop price inflation at lowest in a year as government advised not to burden businesses

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 Shop price inflation has eased for the fifth consecutive month …

UK inflation fell unexpectedly in August. That makes it unclear what the Bank of England will do
1 year, 6 months ago

UK inflation fell unexpectedly in August. That makes it unclear what the Bank of England will do

Associated Press  

LONDON — Inflation across the U.K. fell unexpectedly in August to its lowest level since Russia launched its invasion of Ukraine, a development that has reined in expectations of a 15th straight interest rate increase from the Bank of England on Thursday. Though inflation is way above the Bank of England’s target of 2% and higher than any other Group …

UK inflation falls 1.1% in just one month as Ukraine war energy price crisis starts to ease
1 year, 7 months ago

UK inflation falls 1.1% in just one month as Ukraine war energy price crisis starts to ease

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 price inflation fell 1.1 per cent in a month …

UK inflation falls to 17-month low of 6.8% but unlikely to derail another interest rate rise
1 year, 7 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, …

Inflation shock as Jeremy Hunt expects prices to go back up again
1 year, 7 months ago

Inflation shock as Jeremy Hunt expects prices to go back up 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 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. Bank of England governor Andrew …

UK inflation falls as prices rise less than expected
1 year, 8 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 …

Europe inflation slips to 5.5% — but that won't stop central bank rate hikes
1 year, 8 months ago

Europe inflation slips to 5.5% — but that won't stop central bank rate hikes

The Hindu  

Inflation in Europe slid again in June but fell too slowly to offer much relief to shoppers grumbling over price tags or to stop more interest rate hikes that will raise the cost of borrowing across the economy. While that is a big drop from the peak of 10.6% in October, persistently high prices in the U.S., Europe and the …

Europe inflation slips to 5.5% — but that won’t stop central bank rate hikes
1 year, 8 months ago

Europe inflation slips to 5.5% — but that won’t stop central bank rate hikes

Associated Press  

FRANKFURT, Germany — Inflation in Europe slid again in June but fell too slowly to offer much relief to shoppers grumbling over price tags or to stop more interest rate hikes that will raise the cost of borrowing across the economy. While that is a big drop from the peak of 10.6% in October, persistently high prices in the U.S., …

Inflation in Europe drops to lowest level since Russia invaded Ukraine
1 year, 9 months ago

Inflation in Europe drops to lowest level since Russia invaded Ukraine

CNN  

London CNN — Inflation in Europe has fallen to its slowest pace since Russia invaded Ukraine, bolstering the case for the region’s central bank to bring interest rate hikes to an end soon. That’s the lowest rate of inflation since February 2022, when Moscow launched a full-scale invasion of its neighbor, sending global energy prices soaring. That could give the …

UK inflation remains over 10% as food prices rise
1 year, 11 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 …

This number shows that high inflation is sticking around
2 years, 1 month 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 …

European inflation eases for 3rd month but prices still bite
2 years, 1 month ago

European inflation eases for 3rd month but prices still bite

Associated Press  

LONDON — Europe’s inflation rate dipped at the start of the year, giving some relief to consumers but still leaving them facing higher prices that have driven protests and will likely press the European Central Bank into another interest rate hike Thursday. Russia’s war in Ukraine has shaken up food and energy markets, and while commodity prices have fallen from …

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

How UK, US, Indonesia and other countries are dealing with the cost-of-living crisis
2 years, 2 months ago

How UK, US, Indonesia and other countries are dealing with the cost-of-living crisis

Firstpost  

The rising cost of living is wreaking havoc on businesses and households all over the world. But real incomes have been further eroded over the past year since the UK’s 10.7 per cent inflation rate is far above the pay increases many employees have had to settle for in recent months. Australia’s neighbour New Zealand has experienced much the same …

US inflation eases, consumer prices rise modestly in second month
2 years, 3 months ago

US inflation eases, consumer prices rise modestly in second month

Al Jazeera  

Consumer prices saw the slowest increase in 15 months, paving the way for lower interest rate hikes. US consumer prices rose less than expected for a second straight month in November amid declines in the costs of petrol and healthcare as well as used cars and trucks, resulting in the smallest annual increase in inflation in nearly a year. “But …

Inflation in Europe eases but still in painful double digits
2 years, 3 months ago

Inflation in Europe eases but still in painful double digits

Associated Press  

FRANKFURT, Germany — Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession. Out-of-control inflation is being fed by high energy prices caused by …

Make no mistake, the government shares in the responsibility for sky-high inflation
2 years, 4 months 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, 4 months 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 …

BoE chief warns more interest rates hikes are coming after inflation shock
2 years, 4 months ago

BoE chief warns more interest rates hikes are coming after inflation shock

Daily Mail  

The Bank of England today warned of more interest rate hikes to come after inflation topped 11 per cent - and is set to remain there for months. Governor Andrew Bailey told MPs that the UK labour market is still 'tight' and more increases in interest rates are 'likely' to try to get a grip on prices The headline CPI …

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