UK inflation unexpectedly dropped to 2.6% in June, driven by lower fuel, food, and clothing prices, offering a boost to Prime Minister Andy Burnham's cost of living plans. However, analysts warn this relief may be temporary due to escalating Middle East tensions and upcoming energy price cap increases.
UK inflation remained at 2.8% in the year to May, defying expert expectations of a rise to 3%. Food price inflation slowed to a 17-month low of 2.2%, while transport costs saw the fastest annual rise since December 2022.
UK inflation held steady at 2.8% in May, defying expectations of a rise. This suggests the Middle East conflict's impact on living costs may be less severe than feared, despite high fuel prices. Economists are downgrading inflation forecasts and questioning future interest rate hikes.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises. Economists had forecast a rise to 3%. The ONS reported the flatlining figure, which follows a decline in April, as various price movements balanced out.
UK inflation remained at 2.8% in the year to May, defying expert expectations of a rise. Food price inflation slowed to a 17-month low, but transport costs saw the fastest annual rise since December 2022. Analysts suggest a US-Iran peace deal may temper future increases.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises, according to the ONS. Economists had forecast a rise to 3%, but the flatlining figure defied expectations.
UK inflation remained unexpectedly at 2.8% in May, defying economists' forecasts of a rise to 3%. Higher transport and fuel costs were offset by slower food price rises, according to the ONS.
UK inflation remained unexpectedly at 2.8% in May, with higher transport and fuel costs offset by slower food price rises. The ONS figure defied economists' forecasts of a rise to 3% and comes as the Bank of England prepares to set interest rates.
UK inflation remained at 2.8% in May, slightly under economists' forecasts of 3%. Despite a recent drop, energy prices are expected to rise significantly this summer, potentially impacting future inflation. The Bank of England held interest rates at 3.75% and is anticipated to maintain them for now, though a hike is expected by year-end.
UK inflation remained at 2.8% in the year to May, unchanged from April. Transport costs saw the steepest rise, while food prices slightly decreased. Inflation is expected to continue climbing due to the Iran war's effects, with predictions of a peak between 3.5% and 4% in late 2026.
UK inflation remained unexpectedly at 2.8% in May, defying economists' forecasts of a rise to 3%. The flatlining figure, following April's decline, comes despite the Middle East conflict driving up energy prices. The Bank of England is expected to hold interest rates steady.
European stocks rose Wednesday, led by miners and tech, as U.K. inflation eased to 2.8% in April, below economists' expectations. Bond yields fell and the British pound dipped slightly after the data.
UK inflation fell to 2.8% in April from 3.3% in March, but remains above the Bank of England's 2% target. The ongoing US-Israel war with Iran is expected to push energy and fuel costs higher, potentially delaying interest rate cuts and even prompting hikes.
European stocks showed little movement on Wednesday, influenced by high bond yields and a softer U.K. inflation rate of 2.8% in April. Geopolitical tensions involving Iran also remained a key concern for global markets.
UK inflation fell to 2.8% in April, primarily due to lower energy bills. However, analysts predict a rise to 4% by year-end, citing the Iran war's impact on global oil prices and fuel costs.
UK inflation dropped to 2.8% in the year to April, down from 3.3%, driven by lower energy prices. However, experts predict a rise due to the ongoing US-Israel war's impact on global prices, with fuel costs soaring.
European stocks opened lower Wednesday, tracking global markets focused on high bond yields and a softer UK inflation rate of 2.8% in April. Investors also weighed geopolitical tensions after reports of a postponed U.S. strike on Iran.
UK inflation dropped to 2.8% in April, down from 3.3% in March, driven by a lower household energy price cap. While welcome, the slowdown may be temporary as fuel costs rise due to the Middle East conflict.
European stocks are poised for a negative open Wednesday, tracking Asian markets lower amid concerns over elevated bond yields and upcoming U.K. inflation data. Geopolitical tensions also remain a focus.
Jonathan Brash says ‘own goals’ are distracting from Labour’s achievementsUK inflation accelerated to 3.3% in March after the Iran war triggered the biggest jump in fuel prices for more than three years, Richard Partington reports.Today the Liberal Democrats staged a photocall to publicise their line about this being “Trumpflation”. Daisy Cooper, the Lib Dem deputy leader and Treasury spokesperson, said:People across our country have been struggling for years with a devastating cost-of-living crisis and Donald Trump’s idiotic war in Iran has added to it. The cost of fuel is soaring, mortgage rates are rising and fixed energy deals are already going up by hundreds of pounds.But what is utterly inexcusable is that there are politicians in this country - Nigel Farage and Kemi Badenoch - who are happy to cheerlead Donald Trump as he hikes people’s bills. All the while this Labour government promised to fix the country but instead we’ve got political Groundhog Day: yet more sleaze and scandal. Continue reading...
Jonathan Brash says ‘own goals’ are distracting from Labour’s achievementsUK inflation accelerated to 3.3% in March after the Iran war triggered the biggest jump in fuel prices for more than three years, Richard Partington reports.Today the Liberal Democrats staged a photocall to publicise their line about this being “Trumpflation”. Daisy Cooper, the Lib Dem deputy leader and Treasury spokesperson, said:People across our country have been struggling for years with a devastating cost-of-living crisis and Donald Trump’s idiotic war in Iran has added to it. The cost of fuel is soaring, mortgage rates are rising and fixed energy deals are already going up by hundreds of pounds.But what is utterly inexcusable is that there are politicians in this country - Nigel Farage and Kemi Badenoch - who are happy to cheerlead Donald Trump as he hikes people’s bills. All the while this Labour government promised to fix the country but instead we’ve got political Groundhog Day: yet more sleaze and scandal. Continue reading...
Keir Starmer faced intense questioning at PMQs regarding the vetting of Peter Mandelson and potential diplomatic appointments for political allies. While denying pressure on the Foreign Office, Starmer acknowledged failures in communication regarding security vetting outcomes.
UK inflation rose to 3.3% in March from 3% in February, driven by fuel prices, as economists warn of potentially worse to come if the US-Iran conflict continues. Capital Economics forecasts inflation could hit 7% under an adverse scenario, with energy price inflation peaking at 18.1% in July and airfares rising up to 50%. The Resolution Foundation warns of a £16bn hit to public finances from a prolonged Middle East conflict.
UK inflation has risen to 3.3% driven by higher fuel prices, with analysts predicting it could dip below 3% in April before peaking near 4% later this year. The war in Ukraine continues to impact energy and food costs, though not as severely as the 11% seen in 2022. The Bank of England is taking a cautious approach to interest rates as it balances inflation targeting with economic growth concerns.
