UK inflation flattened out in August September 13, 2016 Inflation remained flat at 0.6 per cent in August, still way below the Bank of England's two per cent target, official figures have shown. Figures from the Office for National Statistics (ONS) showed the consumer price index (CPI) missed expectations of a 0.7 per cent rise. “Fuel costs falling more slowly than a year ago as well [...]
The chancellor’s fiscal reset is a golden opportunity to slash living costs through tax cuts and planning reform September 5, 2016 Philip Hammond recently said that he may use the Autumn Statement to “reset” fiscal policy. That is a welcome sentiment because it suggests the chancellor sees before him a golden opportunity to transform the tax system. With Parliament returning, we are likely to see the government start to formulate and publicise more detailed economic policy [...]
Supermarket sales creep upwards as grocers benefit from the summer sun August 23, 2016 Grocery sales edged up this summer as sunny weather encouraged shoppers to spend. According to data from Kantar Worldpanel, supermarket sales increased by 0.3 per cent in the 12 weeks to 14 August – the fastest growth in the grocery market since March this year. There is no evidence yet to suggest the Brexit vote [...]
Inflation hits eight-month high in Eurozone August 18, 2016 Prices are rising at their fastest rate in eight months across the Eurozone. Inflation came in at 0.2 per cent for the month of July, up from 0.1 per cent in June and in line with previous estimates. Although only modest, the figures crystallise the single currency bloc's exit from deflation after four consecutive months earlier [...]
Adjusting inflationary increases in pension scheme payments could be the key to solving FTSE 100 deficits, says report August 17, 2016 Two-thirds of FTSE 100 pension deficits could be wiped out if the inflationary increases attached to schemes were changed. The estimated pension deficits of the UK's blue-chip companies stood at £46bn at the end of July 2016 according to a report compiled by Lane, Clark & Peacock (LCP). Scheme pay-outs are typically increased by inflation each year, [...]
Sterling soars as UK inflation hits 20-month high after Brexit vote August 16, 2016 The pound has jumped this morning after figures showed prices in the UK are rising at their fastest rate since the end of 2014. Inflation came in at 0.6 per cent in July on the consumer prices index (CPI), ahead of expectations and up from a rate of 0.5 per cent in June. Sterling charged [...]
Economists expect another month of stable inflation before sterling’s Brexit devaluation hits prices August 13, 2016 Inflation figures out this week are expected to reveal sterling's dramatic post-referendum collapse is yet to hit prices for UK consumers. Statistics out on Tuesday, which will show how quickly prices rose in July, the first full month after the referendum, will also be watched closely by commuters as they determine how much train tickets will [...]
Before the bell: What you need to know before the US market open August 9, 2016 US stocks are nearing record highs and China's inflation grew at its slowest rate in seven months. Here's what you need to know ahead of the US market open at 2:30pm London time. US stock markets are nearing all time highs (the S&P 500 hit an all-time high of 2,185.54 points yesterday, although it pulled [...]
The pound has not been so sterling after Brexit: How currency weakness will hit our travel plans, inflation and trade August 8, 2016 The pound has been steadily falling as the Brexit referendum and Bank of England’s moves to shore up the economy have pushed investors into selling the pound. Its downward slide over the last 12 months means sterling is now worth 16 per cent less against the dollar, at £1/$1.31, compared to £1/$1.56 previously. It’s even [...]
Never mind GDP – euro edges up as eurozone inflation hits eight-month high July 29, 2016 The euro rose 0.2 per cent against the dollar to $1.1100 this morning after a slew of figures from the eurozone suggested things are getting better, albeit slowly. Eurozone inflation rose to the lofty heights of 0.2 per cent in July, its highest since the end of last year, better than analysts' expectations of 0.1 per cent. [...]