Latest Office for National Statistics (ONS) data showed that inflation was down to 3.9% in November, from 4.6% in October, the lowest rate since September 2021, the fall was largely thanks to declines in motor fuel prices and recreation costs and a slowdown in food and drink inflation. David Cheadle, Acting Chief Executive of the…
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UK inflation fell to 3.9% from 4.6% in October, the decline is abigger dip than expected, and inflation is now the lowest it’s been in more than two years according to the Office for National Statistics (ONS) data. ONS Chief Economist Grant Fitzner said “Inflation eased again to its lowest annual rate for over two…
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The average UK food bill has gone up by around £605 over the last two years, as climate and energy costs continue to hit shoppers in their pocket, according to new research for the Energy and Climate Intelligence Unit (ECIU). The report was carried out by researchers from the universities of Bournemouth, Exeter and Sheffield…
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UK inflation fell sharply in October to 4.6 per cent, its lowest rate in two years, down from 6.7 per cent the month before, according to the Office for National Statistics (ONS). Commenting on the date Andy Mielczarek, Founder and CEO of SmartSave, a Chetwood Financial company, said “Any drop in the rate of inflation…
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New research by Hargreaves Lansdown has found that 40% of people think the Bank of England is managing inflation badly, higher than at any other point this millennium. The research showed that 63% expect interest rates to rise over the next 12 months – up from 57% in May. 19% expect rates to remain the…
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Three in four brokers (75%) expect the Government to miss its target of halving inflation and expect inflation to remain above 5% at the end of the year according to research by iwoca. While inflation fell to 6.8% in July, core inflation remained flat at 6.9% and projections suggest August could see rates rise again.…
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The Office for National Statistics (ONS) has published its latest Consumer Prices Index, which shows the rate of inflation was 6.8 percent in the 12 months to July 2023, down from 7.9 percent in June. Commenting on the inflation figures for July, ONS Deputy Director of Prices Matthew Corder said “Inflation slowed markedly for the…
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Latest ONS data has shown that CPI inflation fell to 6.8% in July, down from 7.9% in June and well below the peak of 11.1% in October. Commenting on the data, Joanna Elson CBE, Chief Executive of the Money Advice Trust said “This fall in the rate of inflation is an early sign that the…
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Inflation fell to 7.9% in June, from 8.7% in May, according to the Office for National Statistics (ONS). The price rises, as measured by the consumer prices index (CPI), at the lowest rate since March 2022. The fall in inflation exceeds analysts’ expectations, with a dip to 8.2% having been forecast. The ONS said falling…
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Latest data from the Office of National Statistics (ONS) has shown that the annual rate of CPI inflation fell to 7.9% in June 2023. The figures is down from 8.7% in May and well below market expectations. Inflation peaked at 11.1% in October. Core CPI inflation (stripping out energy, food, alcohol and tobacco) finally fell…
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Inflation ignorance and rate confusion is ruining financial resilience according to research by Hargreaves Lansdown (HL) and Opinium. The research found that those who understand inflation are more likely to be financially resilient than those who say they don’t. Those who say they understand inflation, but prove to be wrong, have even lower financial resilience.…
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The Resolution Foundation has said that worrying inflation data will reinforce market expectations that the Bank will need to raise interest rates higher and for longer, which are driving the increase in mortgage rates. Inflation data in May was once again above market expectations. Headline CPI was 8.7 per cent, well above market expectations of…
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Figures released by the Office for National Statistics on Wednesday show that UK inflation, as measured by the consumer prices index (CPI), came in at 8.7% for April, down from March’s 10.1% but far above the 8.4% hoped for by the Bank of England. The news sent expectations of further interest rate rises soaring and…
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