Inflation jumps to 9.1 per cent: Worried City insiders respond to consumer prices climbing again June 22, 2022 The rate of inflation rose again in May, remaining at 40-year highs, the Office for National Statistics said this morning. The rate of Consumer Prices Index inflation rose slightly to 9.1 per cent in May from 9 per cent in April, according to the ONS. The increase matches what analysts had expected. “Though still at [...]
Cost to rent a home jumps largest-ever amount in past year, says statistics body June 22, 2022 The cost to rent a home has increased by the largest-ever amount over the past 12-months, according to the latest figures from the national statistics body. Average rental prices paid by tenants in the UK has jumped by 2.8 per cent in the year to May, the Office for National Statistics revealed this morning, marking [...]
Starmer under pressure to punish strike-supporting Labour MPs June 22, 2022 Labour opposition leader Sir Keir Starmer faces a test of authority from his own frontbench after many shadow team members backed the strikes.
Parliamentary body hammers Ofgem for £2.7bn clean-up bill to fix crisis-hit energy sector June 22, 2022 British households face an eye-watering £2.7bn clean-up bill following market carnage across the energy sector warned regulator Ofgem.
Dorries set to meet with telecom giants to talk about cost of living strategy June 21, 2022 Culture Secretary Nadine Dorries has called on Britain’s biggest telcos firms to discuss the cost of living crisis. According to reports by Mark Kleinman for Sky News, BT Group and Vodafone have been invited to discussions with Dorries. A Whitehall source told the publication that the minister would be challenging the companies on how they [...]
More strikes incoming: Union to ballot over Royal Mail postman pay row June 21, 2022 The union representing staff at Royal Mail have said they will hold a ballot that could lead to even more strike action over pay, adding to the rail and tube mayhem seen this week.
Boris Johnson spokesperson says ‘no plans’ to change cap on executive pay June 21, 2022 Boris Johnson’s official spokesperson has said there are “no plans” to change a cap on executive pay. On Tuesday morning, the PM’s spokesperson added: “I think the issue being investigated is how non-executive directors are paid, rather than what the CEOs or directors are paid.” Ministers were mulling changes relating to “people being able to [...]
Property market is hot but cooling amid cocktail of low stock, high inflation and uncertainty June 21, 2022 The UK’s property market is still going strong, despite fears that rising inflation and the cost of living crisis will choke growth. The number of properties changing hands fell again last month in comparison with its pandemic heights last year. However, with some 100,870 homes sold in May, the latest government data has found a [...]
Cost of living crunch: Shoppers exposed to extra £380 on yearly grocery bill June 21, 2022 Shoppers are now facing an additional £380 to their annual grocery bill as grocery price inflation has hit its highest level in 13 years. According to freshly published data from insight firm Kantar, grocery price inflation hit 8.3 per cent over the past four weeks, the highest level since April 2009. It comes as all [...]
Ocado raises £575m as it looks to widen online grocery market share June 21, 2022 Online retailer Ocado has raised £575m in a share placing, rallying extra funds as demand dries up. The London-listed firm announced the placing after the stock market closed yesterday, revealing just hours later that it had met its quota. The placing auctioned off 72.3m shares at 795p — a nine per cent discount to yesterday’s [...]