New data from the Office for National Statistics (ONS) shows that inflation fell to 8.7% in April, down from 10.1% in March. The figure is higher than economist forecasts of 8.2 per cent and above the 8.4 per cent projection from the Bank of England. Annual food and drink price inflation, which rose to its…
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The consumer prices index (CPI) measure of inflation fell to 10.1% in the year to March from 10.4% in February, according to the Office for National Statistics (ONS). The static inflation was driven by food prices rising at their fastest rate for 45 years. Commenting on inflation figures for March, ONS Chief Economist Grant Fitzner…
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The latest UK inflation data has shown that the rate has fallen less than expected and remains in double digits at 10.1 per cent in March, from 10.4% in February, according to the Office for National Statistics (ONS). The stubborn rate has been driven by food prices rising at their fastest rate for 45 years.…
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Figures from the Office for National Statistics (ONS) show inflation rose more than expected last month to hit 10.4%, up from 10.1% in January. Economists had predicted a slight drop to 9.9%. The rise was driven by a continued rise in food costs, which increased by 18.2% in the year to February, the fastest rise…
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The British Chambers of Commerce (BCC) has said the UK will avoid a recession this year, but will continue to show sluggish growth and the economy won’t recover to pre-pandemic levels until the final quarter of 2024. The BCC upgraded its outlook after better-than-expected consumer spending and business investment figures. The BCC forecasts the economy…
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Although the outlook for consumer inflation and interest rates is stabilising, industrial inflation could remain in double digits until the end of 2023, according to new projections from EY-Parthenon. EY-Parthenon’s latest research finds that, although consumer price index (CPI) inflation could fall to around 4% by the end of 2023, producer price index (PPI) inflation…
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Latest Office for National Statistics (ONS) data has shown that price rises in the UK slowed for a third month in a row as inflation fell to 10.1% in the year to January from 10.5% in December. The drop was largely due to the price of fuel and cost of restaurants and hotels slowing. This…
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Latest Office for National Statistics (ONS) figures have shown that inflation, fell to 10.5% in the year to December, compared to 10.7% in November. The drop was due to fuel prices falling along with clothing and footwear prices, however, this was offset by rising costs in restaurants and hotels. The cost of food also continued…
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The latest UK Consumer Prices Index (CPI) figures, published by the Office for National Statistics (ONS) show that CPI rose by 10.5 percent in the twelve months to December 2023, down from 10.7 percent in November. The drop was due to fuel prices falling along with clothing and footwear prices, however, this was offset by…
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Food inflation hit 13.3 per cent in December, up from 12.4 per cent in November, according to the British Retail Consortium (BRC) shop price index. The rise marks the highest monthly inflation rate for food since records began in 2005. The data highlights that fresh food costs contributed most to the rise, which shows an…
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The economy grew by 0.5 per cent in October after contracting the previous month when an extra Bank Holiday for the Queen’s funeral suppressed growth, according to data from the Office for National Statistics. However, in the three months to October, output contracted 0.3 per cent compared with the previous three months, the largest fall…
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The latest UK Consumer Prices Index (CPI) figures, published by the Office for National Statistics, show that CPI rose to 11.1 percent in the twelve months to October, up from 10.1 percent in September A jump in energy costs, despite the Energy Price Guarantee (EPG), and rising food prices, which rose by 16.4 per cent…
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Latest Office of National Statistics (ONS) data has revealed that Inflation jumped to a 41-year high of 11.1% in October, exceeding expectations as food, transport and energy prices continued to squeeze households and businesses. Economists had projected an annual increase in the consumer price index of 10.7%, and October’s print marks an increase from the…
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