Unemployment drops further as UK pay falls for second month in a row amid inflation frenzy April 12, 2022 According to the Office for National Statistics, unemployment fell yet again to 3.8 per cent in February, down from 3.9 per cent. The UK employment rate was largely unchanged on the quarter at 75.5 per cent, but still sat below pre-Covid pandemic levels. The ONS’ estimate of payrolled employees for March 2022 shows a small [...]
Inflation to near 30-year high as Brits prepare to tighten their belts January 17, 2022 The cost of living in Britain will swell to its highest level in nearly three decades, some of the City’s leading economists warned today. Soaring energy bills, compounded by a sharp rise in the price of second-hand cars and petrol costs, will drive inflation to 5.3 per cent, according to Sanjay Raja, Deutsche Bank’s senior [...]
New Zealand halves public transport fares amid soaring inflation, fuel prices March 15, 2022 New Zealand has halved prices for public transport in response to soaring fuel costs sparked by the war in Ukraine. Its Prime Minister Jacinda Ardern made the call saying the “global energy crisis has quickly become acute”. However, her government has been criticised for the rising cost of living even before the war started, with [...]
China breaks deflationary chains with February surge in consumer prices March 11, 2024 China saw its first instance of inflation in February after enduring four consecutive months of deflation.
Week ahead: City braces for more eye watering inflation data January 16, 2022 The City’s attention this week will zero in on latest UK inflation estimates published on Wednesday. Although experts expect the rate of price rises to remain broadly unchanged, investors are likely to gulp at inflation remaining at historically high levels. According to the Office for National Statistics (ONS), inflation hit 5.1 per cent in November, [...]
Soaring inflation and tax hikes to squeeze UK economy November 18, 2021 TAX hikes, soaring inflation and an end to pandemic-related government support is souring the UK economy’s prospects, according to City analysts. Brits’ spending power will be eroded by the intensifying cost of living crisis, restricting their ability to splash the cash and drive the economy, analysts at Deutsche Bank warned today. Inflation is accelerating at [...]
Used car prices rocket as UK inflation soars November 17, 2021 Used car prices have skyrocketed around the same time the UK’s inflation rates have reached record highs. Data from Auto Trader’s marketplace have revealed that last week the average prices for a used vehicle went up 26.9 per cent year-on-year, reaching almost £20,000. Fuelled by massive levels of consumer demand and supply chain issues, last [...]
B&M quarterly sales dip after retailer warns shoppers could cut back amid high inflation June 29, 2022 Discount retailer B&M has seen sales plummet in its first quarter, against strong lockdown comparatives, as cash-strapped Brits cut back on discretionary spending. In a trading update for the 13 weeks from 27 March to 25 June, the London-listed business said group revenue had dropped 2.2 per cent on a constant currency basis. Across the [...]
Today: Bank of England to push interest rates to 13-year high to slow cost crunch and inflation May 5, 2022 Interest rates are expected to be hiked once again later today to their highest level for 13 years as the Bank of England battles to cool rocketing inflation. The Bank’s policymakers are predicted to increase rates from 0.75 per cent to 1 per cent – a level not seen since early 2009 – and ramp [...]
Print revenue plunges for Daily Mirror owner Reach as inflation and global uncertainty scares off advertisers May 5, 2022 Print revenue was down 4.2 per cent for the owner of the Daily Mirror and OK! magazine Reach, as the group grapples with reduced advertiser demand and crippling inflation.