Credit, Collections & Insolvency News
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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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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