Commodities crash to 11-year low as deflation fears grow: Latest price slump complicates backdrop for interest rate hikes July 20, 2015 Global commodity prices have slumped amid a glut of supply and low demand – and now experts are foreseeing the prospect of deflation in the West. A basket of commodities measured by the Bloomberg commodities index has fallen to an 11-year low, and the index is down 42 per cent since its peak in [...]
Europe still has a problem with low inflation July 16, 2015 While consumers may be happy to see prices rising more slowly, central bankers and politicians around Europe are a little more nervous about how they are are behaving across the European Union and Eurozone. The European Union experienced annual inflation of just 0.1 per cent in June and the Eurozone only did marginally better with [...]
Wage growth hits five-year high but unemployment rises July 15, 2015 While UK wage growth soared to a five-year high in the three months to May, unemployment unexpectedly rose for the first time in more than two years. Average weekly earnings, including bonuses, rose 3.2 per cent during this period, slightly below economists' expectations for a 3.3 per cent rise according to figures released today by the Office [...]
Inflation back to zero: Here’s what the analysts said July 14, 2015 Falling clothing and food prices sent Britain back into "noflation" in June, down from 0.1 per cent in May, according to figures releases today by the Office for National Statistics. Read more: Britain falls back into "noflation" territory Here's what analysts had to say: Chris Williamson, chief economist at Markit, said: Core inflation (excluding energy, food, [...]
UK inflation falls back to zero as Britain returns to “noflation” territory July 14, 2015 The falling price of clothes and food meant that Britain's consumer price index slipped back to zero last month, from a 0.1 per cent increase in May, and coming in line with economists' expectations. Figures released today by the Office for National Statistics showed clothing and footwear prices fell by 0.4 per cent in the [...]
Bank of England monetary policy committee could split over timing of first interest rate rise June 24, 2015 One of the MPC’s nine members, Dr Martin Weale, has indicated that the Bank of England should be prepared to raise the cost of borrowing as early as August. The comments indicate the monetary policy committee could soon face a split over when to raise interest rates from the historic low of 0.5 per cent they [...]
Consumers are more upbeat on their finances June 21, 2015 Brits are feeling more confident about their personal finances after the General Election, survey data from a major UK bank show. Lloyds Bank’s spending power index climbed to a new high score of 160, according to figures released today. Consumers’ assessment of their current situation, a sub-section of the survey, jumped by 11 points to [...]
UK inflation: 33 charts showing how UK inflation rate compares to every inflation rate in every EU country June 16, 2015 The UK exited deflation in May, according to the ONS. In April consumer prices went on a brief foray into negative territory, but returned to meagre growth of 0.1 per cent for the year to May. Read more: The UK shrugs off deflation The Eurozone is beginning to get to grips with its own disinflation [...]
UK shrugs off deflation as prices rise 0.1 per cent in May June 16, 2015 Inflation rose by 0.1 per cent in the year to May according the Office for National Statistics, up from -0.1 per cent a month earlier, and ending a brief spell of deflation. "The largest upward contribution to the change came from transport services, notably air fares with the timing of Easter in April a likely [...]
Britain likely to exit deflation next week June 12, 2015 Economists have said that official data due to be released next week will likely show Britain escaped from a brief period of technical deflation last month. They think that prices could have risen slightly in May due to higher fuel prices, alongside increases in the cost of air/sea transport, and holiday prices. Inflation turned fell by [...]