Today: Bank of England to push interest rates to 13-year high to slow cost crunch and inflation May 5, 2022 Interest rates are expected to be hiked once again later today to their highest level for 13 years as the Bank of England battles to cool rocketing inflation. The Bank’s policymakers are predicted to increase rates from 0.75 per cent to 1 per cent – a level not seen since early 2009 – and ramp [...]
Expect no help: Boris Johnson warns any state support to fight cost of living crisis merely pushes up inflation even further May 3, 2022 Prime Minister Boris Johnson insisted this morning his Government is doing “everything we can” to help with the cost-of-living crisis. However, Johnson hinted there is only so much he can do because, in an interview on ITV’s Good Morning Britain, the Prime Minister warned that increasing state support beyond its current levels could drive inflation [...]
ECB gets more nervous by the day as Eurozone inflation hits highest level ever: Sixth record in a row April 29, 2022 Inflation hit a new record for the 19 countries that use the euro as skyrocketing fuel prices boosted by the war in Ukraine add new burdens to household finances and weigh on a slowing economic recovery from the latest outbreaks of Covid-19. Annual inflation hit 7.5 per cent for April, the highest since statistics started [...]
Boris Johnson hints at childcare announcement as PM will chair new committee to tackle raging cost of living crisis April 26, 2022 Boris Johnson will chair a committee to tackle the cost of living crisis in the coming weeks, Downing Street said. One of the announcements will most likely include a childcare measure. The Prime Minister’s official spokesman said: “The Prime Minister will chair a domestic and economic strategy committee in the coming weeks to finalise the [...]
Govt urged to launch nationwide ‘holiday fun fund’ for poorer families to battle rising cost of living April 22, 2022 The government should create a new nationwide “holiday fun fund” as part of their response to the rising cost of living, the Lib Dems said today. The party believes it could help make sure children from poorer families can still enjoy outings and activities during school breaks. The Liberal Democrats also want to ensure all [...]
Retail sales slow as consumer confidence now lower than horsemeat scandal April 12, 2022 Retail sales slowed last month as consumer confidence has taken a hit as shoppers feel the bite of rising cost inflation. According to data from the British Retail Consortium (BRC) and KPMG, sales increased by 3.1 per cent in March. This was worse than a three-month average growth of 6.9 per cent. What’s more, retail [...]
Broadband startup Cuckoo calls on industry to abolish exit fees and end £1.3bn price hikes March 30, 2022 Broadband exit fees and above-inflation price rises should be scrapped as UK customers face a cost of living crisis, the CEO and founder of broadband firm Cuckoo Alex Fitzgerald has demanded.
Highest since 2015: Russian inflation goes through the roof as level accelerates to 12.5 per cent March 23, 2022 It seems another headache is coming Vladimir Putin’s way as inflation in Russia has shot up to 12.5 per cent, the country’s highest level since 2015. Annual inflation in Russia accelerated to 12.5 per cent as of March 11, its highest since late 2015 and up from 10.4 per cent a week earlier, the economy [...]
Gordon Brown joins 50 charities urging action on cost of living crisis, u-turn on ‘unthinkable’ below-inflation benefit rise March 17, 2022 Former Prime Minister Gordon Brown joined around 50 charities urging the government to urgently address the cost of living crisis, and change its mind on a below-inflation benefits rise. Pressure was growing on ministers this week not to go ahead with the rise of 3.1 per cent in the Spring statement, as inflation is set [...]
Price pinch: Most Brits financially struggling or worried as inflation rises and Ukraine war rages March 14, 2022 Almost 60 per cent of Brits either struggling financially, or concerned about money in the near future, due to Russia’s war in Ukraine and the cost of living crisis. The economic effect of the conflict has exacerbated the rise in energy and food, against the backdrop of increasing inflation, which is set to exceed the [...]