Inflation in the UK fell last month, taking the biggest drop since 2008, according to the Office for National Statistics (ONS). That’s CPI or the Consumer Prices Index, which was down from 4.8% in November to 4.2% in December. The ONS notes that this is the largest drop since November and December of 2008. The [...]
New data from the Office of National Statistics, released Tuesday, shows that while overall inflation remained at 4.5 percent in May and the Retail Price Index, which includes housing costs, was unchanged at 5.2 percent last month, food and beverage prices rose significantly in May. Prices shoppers paid for food and non-alcoholic beverages added 5.8 [...]
People with the lowest incomes in the UK are more affected by inflation than those with higher incomes, with the lowest earners subject to a higher effective inflation rate than those in the highest income brackets, according to a study from the Institute for Fiscal Studies (IFS), a non-profit economic research institute based in London. [...]
A member of the Bank of England’s Monetary Policy Committee has called for an increase in UK interest rates. In prepared remarks to be delivered at a Finance Directors’ Strategy Meeting in London, Martin Weale said that recent disappointing data has not changed his mind about where rates need to go. Mr. Weale said, “Although [...]
It was the 27th consecutive month that the Bank has left rates steady. The Bank’s Monetary Policy Committee, by keeping rates on hold, is betting that limits on economic growth will be more of a problem than inflation to the UK’s economy. Some have been urging that the Bank raise rates with inflation in the [...]
