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Uk Inflation

All articles tagged with #uk inflation

economy1 month ago

UK inflation ticks up to 3.4% in December on tobacco and travel costs

Britain’s inflation rate rose to 3.4% in December from 3.2% in November, beating economists’ 3.3% forecast, with higher tobacco prices from new excise duties and pricier airfares contributing, along with rising bread and cereal costs; core inflation held at 3.2%, while rents and some recreational prices fell. The pound traded near $1.323, and the data cloud the Bank of England’s path to a February rate cut as pay growth remains soft.

via CNBC|
#airfares#boe#economy
Bank of England Likely to Maintain Rates Amid Budget Uncertainty
economy3 months ago

Bank of England Likely to Maintain Rates Amid Budget Uncertainty

The Bank of England is expected to hold interest rates at 4% in its upcoming meeting amid high inflation and upcoming UK budget decisions, pausing a rate-cutting trend that has been ongoing since August 2024. While a rate cut is not expected immediately, market expectations for a possible reduction in December have increased, depending on upcoming economic data and the budget's impact. The decision is also influenced by global central bank trends and economic uncertainties.

via Yahoo Finance|
#bank-of-england#budget-2025#economy
UK inflation steady at 3.4%, prompting cautious monetary policy
business8 months ago

UK inflation steady at 3.4%, prompting cautious monetary policy

UK inflation remains high at 3.4%, with food prices rising for the third consecutive month, driven by increased costs including higher wages and bad harvests affecting chocolate prices, which surged by 17.7% in the year to May, marking the fastest increase since 2016. Despite some easing in travel costs, overall inflation impacts consumers and businesses, with concerns about rising living costs and economic growth.

via BBC|
#business#chocolate-prices#cost-of-living
UK Inflation Surge Alters Economic and Political Landscape
economy1 year ago

UK Inflation Surge Alters Economic and Political Landscape

The UK's inflation rate rose to 2.3% in October, indicating ongoing cost of living challenges despite being lower than the peak of 11.1% two years ago. While wages are rising, they may not keep pace with inflation, particularly affecting those on benefits. The Bank of England's interest rate cuts are expected to be gradual due to recent economic events, impacting mortgage and rent costs. Global factors, such as potential US tariffs and geopolitical tensions, add uncertainty to future inflation trends.

via BBC.com|
#cost-of-living#economic-growth#economy
UK Inflation Surges to 2.3% Amid Rising Energy Costs
economy1 year ago

UK Inflation Surges to 2.3% Amid Rising Energy Costs

UK inflation rose to 2.3% in October, surpassing expectations and marking an increase from September's 1.7%. Core inflation also edged up to 3.3%. The rise in inflation could influence the Bank of England's interest rate decision in December, although another inflation report is due before then. The recent Autumn budget, which includes significant tax increases, may further impact inflation and economic growth. The global economic environment, including potential trade tariffs from the US, adds to inflationary pressures.

via CNBC|
#bank-of-england#economic-outlook#economy
UK Inflation Surges to 2.3% Amid Energy Cost Spike
economy1 year ago

UK Inflation Surges to 2.3% Amid Energy Cost Spike

UK inflation rose to 2.3% in October, up from 1.7% in September, driven by higher energy bills, which increased by about £149 for a typical household. This rate surpasses the Bank of England's 2% target, though further interest rate cuts are not expected until 2025. While energy costs contributed to the inflation rise, decreases in live music and theatre ticket prices provided some offset. The government plans to means-test winter fuel payments, affecting 10 million pensioners, as energy costs remain a concern amid colder weather.

via BBC.com|
#bank-of-england#cost-of-living#economy
"European Stocks Rise Despite Fed's Inflation Concerns; UK Inflation Eases"
finance1 year ago

"European Stocks Rise Despite Fed's Inflation Concerns; UK Inflation Eases"

European stocks were slightly higher despite global market concerns over comments from the head of the U.S. Federal Reserve, with the Stoxx 600 index up 0.1% and UK inflation easing to 3.2% in March. Fed Chair Jerome Powell's remarks about the need for more progress on inflation before considering rate cuts contributed to market unease. Luxury group LVMH saw a 2.5% rise in shares despite a slowdown in sales, while Asia-Pacific and U.S. markets experienced mixed performance following recent selloffs.

via CNBC|
#european-stocks#federal-reserve#finance
"Surprising UK Inflation Drop Fuels Speculation of Early Bank of England Rate Cuts"
economy2 years ago

"Surprising UK Inflation Drop Fuels Speculation of Early Bank of England Rate Cuts"

UK inflation dropped to its lowest rate in over two years in November, surprising economists and bolstering expectations of an interest rate cut by the Bank of England in the first half of next year. The annual rate of consumer price increase fell to 3.9% from 4.6% in October, driven down by cheaper petrol. Investors now fully price in a rate cut by May 2024 and see a nearly 50% chance of a cut by March. The pound and British government bond yields also fell. While UK inflation is no longer an outlier internationally, it remains higher than other advanced economies.

via Reuters UK|
#bank-of-england#consumer-prices#economic-outlook