Russia hikes rates to 12 per cent as ruble plummets to lowest level since Ukraine invasion August 15, 2023 Russia’s central bank has raised its key interest rate by 3.5% in a move designed to fight inflation and strengthen the ruble after the country’s currency reached its lowest value since early in the war with Ukraine. The decision to hike the key rate to 12% was announced after an emergency meeting of the bank’s [...]
Grocery price inflation drops sharply to 12.7 per cent August 15, 2023 Grocery price inflation saw its second sharpest fall since 2008, falling 2.2 percentage points to 12.7 per cent for the four weeks to 6 August, new data shows. While food prices are still rising, some goods actually became cheaper, with shoppers paying £1.50 for four pints of milk, down from £1.69 in March, and a [...]
Analysis: Why record wage growth will give the Bank of England kittens – and see them raise rates again August 15, 2023 Wage growth outstripping inflation should be good news, but Bank of England wonks will fear a wage price spiral is in play
Solar body urges government to expand boiler scheme and mandate new panels after record installations August 14, 2023 The government should expand the upgrade scheme for boilers with higher grants and mandate solar panels in new homes, says industry body MCS.
Cost of living pressures set to ease as inflation tipped to fall again August 14, 2023 Cost of living pressures facing households are set to ease, as experts predict inflation will fall below wage growth for the first time since last April. Official figures out on Tuesday are tipped to show that wage growth hit 7.4 per cent in the three months to June on an annual basis, up from 7.3 [...]
Strong services drive US producer prices higher in July as Fed expected to keep rates steady August 11, 2023 U.S. producer prices increased slightly more than expected in July as the cost of services rebounded at the fastest pace in nearly a year, but the trend remained consistent with a moderation in inflationary pressures. The producer price index for final demand rose 0.3 per cent last month, the Labor Department said on Friday. Data [...]
Car insurance premiums hit highest levels since records began August 11, 2023 Motor insurance premiums have soared to their highest levels since records began, according to research from the Association of British Insurers (ABI). Over the last year, the average price paid for car insurance rose 21 per cent to £511, the highest since the ABI began collecting data in 2012. The ABI said that “sustained cost [...]
US inflation rises slightly. Will the Fed hike rates again? August 10, 2023 Inflation rose to 3.2 per cent in the year to July, according to official statistics out today, up from 3.0 per cent last month.
Antofagasta revels in rising copper demand as countries embrace net zero transition August 10, 2023 Higher copper prices and sales has powered Antofagasta to bumper earnings over the first six months of trading this year.
Eon warns energy crisis not over yet as it ramps up renewable spending August 9, 2023 There is still a risk that gas prices could rise this winter despite the recent calming across energy markets, Eon warned today.