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Karl Otto Pöhl, the former President of the Bundesbank put it best: “Inflation is like toothpaste. Once it’s out you can hardly get it back in again.”
Mercedez Benz shares plunged over six per cent today after it said profits had fallen due to a slowdown in vehicle deliveries.
It means that in the first half of this financial year, Loungers made £149.6 million in revenue, 22.3 per cent higher than the year before.
Profits dipped for Pennon this half year as inflationary pressures get the better of the water services group. Underlying profit before tax slumped 75 per cent compared to 2021 levels, reflecting the near-term pressures on earnings from inflation driven power pricing and financing costs. Profit before tax was £20.9m for Pennon, down from £79.9m in [...]
The price of Bitcoin sits around $22,260 this morning, up by 2% over the last 24 hours while Ethereum is up 3% at $1,556.
Higher interest rates, strong inflation and pessimistic expectations for growth are weighing the UK's services and manufacturing sectors.
Oil prices are rising amid a sustained hawkish approach from the Federal Reserve raising hopes of an economic revival in the US.
Grocery price inflation has fallen to its lowest monthly rate this year – but remains at its sixth highest level since 2008, figures show. Grocery inflation dropped to 16.5 per cent for the four weeks to June 11, down from last month’s 17.2 per cent and March’s record 17.5 per cent according to analysts Kantar. [...]
Food inflation has reached its highest level on record, with the sector predicting no stall in price increases throughout the year. Figures published in the British Retail Consortium’s (BRC) shop price index show food inflation rose to 13.8 per cent in January, up from 13.3 per cent in December. This rise has pushed it above [...]
This week, Dr Chris Kacher pours scorn on CPI while speculating on what might happen if quantitive easing is introduced again.
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