Rate Cut Sparks Debate
The Bank of England is widely expected to lower the UK’s base interest rate this week, marking its lowest level in over 18 months.
Rate Cut Anticipated
Currently set at 4.75%, the base rate could be reduced to 4.5% fol...
Wage Increases, Price Pressures
British businesses are voicing concerns over tax increases in Chancellor Rachel Reeves' latest Budget, which includes sharp rises in the National Living Wage and emplo...
London Property Prices Tumble
London house prices have plummeted at the fastest rate since 2009, according to the latest data from the Land Registry. The average price in the capital has dropped by 6% year-on-year to £505,000, marking two cons...
Inflation Battles
Sainsbury's CEO, Simon Roberts, states that food inflation is decreasing and shoppers are responding positively to price cuts on basic items. Sainsbury's is fully committed to battling inflation and supporting customers in lig...
Battle Against Inflation
Chancellor Jeremy Hunt has organized a meeting with industry regulators to tackle the problem of price hikes driven by rampant inflation.
The meeting, happening on Wednesday, will involve representatives from...
Inflation Alert
Gillian Keegan, a Cabinet minister, highlights the significance of addressing inflation before implementing tax cuts. Speaking at the Margaret Thatcher Conference, she emphasizes the need for sound money and fisca...
UK inflation drops slightly in March
UK inflation dropped to 10.1% in March, according to the Office for National Statistics. While this is a slight improvement from the 10.4% recorded in February, it is still in d...
How price hikes are impacting popular restaurant chains in Britain
Dining out in Britain has become increasingly expensive in recent months as restaurants and pubs struggle with rising costs. Some of the popular chains, including McDonald's, Wethers...
Defence spending
Adhering to the spending review for 2021, the Ministry of Defence budget will increase in cash terms from £47.9bn this year to £48bn in 2023 and then to £48.6bn in 2024.
Meanwhile, CPI inflation is expected to ris...
Economic crisis
There is no way out of the current crisis in the British economy painlessly and with minimal losses. This statement was made on Thursday by the Governor of the Bank of England, Andrew John Bailey, at a press conference in London.
"I...
Inflation in the UK
The rapid rise in the cost of living in the UK is forcing UK pensioners back to work. The Guardian, a British newspaper, said this on Monday.
According to estimates of the National Statistics S...
British shoppers are angry
Shop staff in the UK are increasingly facing hostility from shoppers due to a significant rise in the cost of living. This was reported on Tuesday by The Guardian newspaper, citing a report by the Institute ...
Inflation is forcing people to save money
Growth in UK property prices for sale has fallen markedly this year. According to the Rightmove website, this is due to pressure on buyers due to rising living costs and the prospect of rising interest rates...
Protest in London
Several tens of thousands of people are taking part in a protest march in central London on Saturday amid Britain's mounting economic crisis. The protesters, broadcast by Sky News television, are demanding that Boris Johnson's gove...
The governor of the Bank of England has warned of "apocalyptic" food prices, saying he feels "helpless" amid soaring inflation.
Andrew Bailey hit back at criticism that the Bank acted too slowly to tackle inflation, blaming a "bad situation" on...
Business today called for an immediate emergency budget to deal with soaring costs, including the reversal of the recent National Insurance increase.
That came as former Bank of England chief economist Andy Haldane warn...
The cost of household goods such as toys, furniture and clothing is rising by the fastest rate in more than 15 years as the impact of the war in Ukraine combines with Covid lockdowns in China.
Non-food inflation accelerated to 2.2% in April, up from...
Interest payments on the national debt rose to their highest level ever last year, as the UK’s public finances reel from the huge cost of the pandemic.
The government’s statistics department said the debt pile stood at £2.3tn...
Britain looks set to become the first major economy to hike interest rates since the Covid-19 pandemic began after inflation data showed prices rising at the fastest rate in a decade.
Driven by higher energy and transport costs, the UK Consumer Pric...
UK house prices rose by almost £5,000 in August as the property market continued to boom after the partial end to the government’s stamp duty holiday in England and Northern Ireland.
The Nationwide building society said the cos...
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