Insolvencies hit highest level since 2009 as firms feel pressure from rates and inflation July 28, 2023 The number of company insolvencies in the second quarter hit its highest level since 2009, new figures showed, as firms struggled with a cocktail of rising costs and a tightening lending environment. In the three months to June 2023, there were 5,240 seasonally adjusted registered company insolvencies, nine per cent higher than last quarter and [...]
Inflation to top Bank of England target until at least 2026, Goldman Sachs warn May 30, 2023 Inflation in the UK is set to top the Bank of England’s target for at least the next three years, likely forcing governor Andrew Bailey and co to tip the country into recession via yet more interest rate rises, a top Wall Street bank has warned. Researchers at Goldman Sachs late last night hiked their [...]
Bank needs to ‘see the job through’ on inflation, says Pill – but divisions remain April 4, 2023 The chief economist at the Bank of England, Huw Pill, has suggested that more work is needed to tame price rises because there is a danger of high inflation becoming embedded in the UK economy. “The onus remains on ensuring enough monetary tightening is delivered to ‘see the job through’ and sustainably return inflation to [...]
Let’s face it: Profiteering is feeding the inflation beast, not just pay rises April 4, 2023 Inflation is a pernicious beast that is plainly bad for people and businesses. It can ease governments’ debt burdens by (artificially) boosting tax revenues, but that can lead to severe bouts of price rises that, often, lead to societal decay. So it’s easy to see why policymakers in the UK are sweating over the rate [...]
Premier Foods has no plans for price increases as cost inflation ‘now past its peak’ July 20, 2023 Mr. Kipling maker Premier Foods said that it now believes that the recent period of significant input cost inflation has “now passed its peak”, with the group no longer planning for further price increases during the year. It comes as inflation fell to its lowest level this year of 7.9 per cent, giving shoppers hope [...]
Why today’s inflation numbers are much, much worse than you think May 24, 2023 Inflation in the UK has trimmed to its lowest level in over a year. It has also dropped out of the double digits for the first time since last August. Hooray! These are milestones that shouldn’t be welcomed with much joy, especially given that outside of the last 18 months or so, inflation barely budged [...]
Morning in the City: Live updates as inflation drops, results from Aviva and M&S May 24, 2023 Welcome to City A.M.’s live blog on Wednesday 24 May as the latest inflation figures are released, and there are results from Aviva and M&S. What you need to know this morning:
FTSE 100 close: Ocado drags London index into black as markets brace for inflation data July 18, 2023 London’s FTSE 100 squeezed out gains today that have pushed it back into the black in 2023, propped up by shares in online grocer Ocado soaring after a decent set of results. The capital’s premier index jumped 0.64 per cent to 7,453.68 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Bank of England finance panel suggests wage growth won’t budge next year, but inflation will fall November 30, 2023 "Expected output price inflation has been gradually falling over the year," the survey noted.
Grocery inflation remains ‘incredibly high’ but falls for fourth straight month thanks to supermarket promotions July 18, 2023 Grocery price inflation has seen the biggest drop since its peak in March but remains “incredibly high”, figures show. Supermarket promotions helped the figure fall to 14.9 per cent in the four weeks to July 9, down from 16.5 per cent over the previous month, according to analysts Kantar. It is the fourth month in [...]