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 [...]
Inflation crunch to intensify as wave of firms hike prices to survive cost assault February 10, 2022 A cost assault is forcing businesses to hike prices to protect margins in a sign the UK cost of living crisis is set to get worse before it gets better, reveals a new study published today. Around three in four firms are raising prices to weather soaring energy and staffing costs in what is being [...]
Inflation to accelerate far ahead of Bank of England’s target as rate hikes loom March 8, 2022 Inflation in the UK will soar far above the Bank of England’s target this year as the Russia-Ukraine war drives energy prices to record highs. Accelerating prices will hit “almost all businesses and consumers” this year and choke economic growth, Thomas Pugh, an economist at RSM, warned today, adding that the cost of living could [...]
Bank of England will ‘have to act’ to curb inflation October 17, 2021 Bank of England Governor Andrew Bailey has signaled that the Bank of England is gearing up to increase interest rates. The central bank is considering raising interest rates for the first time since the onset of the coronavirus crisis due to increasing inflation risks. He believes the surge in energy prices raises the risk of [...]
UK economy to shrug off Omicron quickly but lean into inflation blizzard January 11, 2022 The UK economy will shrug off the impact of the Omicron variant quickly, but will then fall into an inflation blizzard, top City economists have bet. Despite widespread concerns the new strain would plunge the economy back into doldrums seen during previous periods of high virus cases, the impact of the Omicron variant will be [...]
Bank of England has undercooked inflation forecasts again, City economists warn February 7, 2022 The Bank of England has undercooked its forecasts for inflation again in a sign the cost of living squeeze will get worse before it gets better, reveals new estimates from City economists. Inflation will peak at 7.5 per cent in April, higher than the Bank’s expected peak of 7.25 per cent in its latest forecasts, [...]
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.
Exclusive: Brits set to lobby employers for inflation-busting pay rise in response to cost of living crunch April 28, 2022 Brits are set to lobby their employers for a pay rise in a bid to cope with a tightening cost of living squeeze, reveals exclusive research shared with City A.M. today. Employers that fail to meet workers’ demands for a wage boost risk losing out on retaining and attracting top talent, according to the ADP [...]
Royal Mail set to hike stamp costs amid spiralling inflation and letter decline March 4, 2022 Royal Mail is set to hike stamp prices as spiralling inflation ramps up costs and letter usage continues to decline.
UK services inflation accelerates at record pace as cost of living squeeze intensifies February 3, 2022 UK businesses are raising prices at the fastest rate on record as Brits prepare for a once-in-a generation cost of living squeeze, reveals a closely watched survey published today. Prices for products produced by services businesses, including pubs, restaurants and bars, rose at the quickest pace since 1996, according to IHS Markit. Soaring raw material [...]