Inflation ‘pauses for breath’ in September before racing ahead soon October 20, 2021 Inflation “paused for breath” in September before it races ahead at a fiery pace in the coming months. Prices were 3.1 per cent higher than they were a year ago last month, according to the Office for National Statistics (ONS). The rate of inflation edged back slightly from August’s 3.2 per cent clip and was [...]
Brits brace for £23 per week jump in cost of essentials as two-thirds fear inflation October 20, 2021 UK households expect to cost of essentials such as food, non-alcoholic drinks, electricity, gas and motor fuel to rise as much as £23 per week by the end of the year according to new research shared with City A.M. this morning. More than 4 in 5 (84 per cent) UK households expect the cost of essentials [...]
Inflation shows unexpected drop in September October 20, 2021 Inflation slowed unexpectedly in September as the Bank of England is set to tackle the acceleration by hiking interest rates. Consumer Prices Index (CPI) rose 3.1 per cent in the year to September, down from 3.2 per cent to August, official data showed. Increased prices for transport were the largest contributor to price rises, at [...]
Hospitality facing ‘terrifying’ rates of inflation October 19, 2021 The price of a meal out could rocket this autumn as hospitality chiefs have warned of a cocktail of cost pressures on businesses. Speaking to the Business, Energy and Industrial Strategy committee on Tuesday, Food and Drink Federation boss Ian Wright urged MPs to “think seriously about inflation in hospitality.” Price inflation for hospitality’s operational [...]
Treasury says UK’s ‘net-zero strategy’ will mean future tax rises to cover £37bn Budget blackhole October 19, 2021 The government’s newly released plan to get the UK to net-zero carbon emissions by 2050 would blow a £37bn blackhole in the Budget that would need to be filled by tax rises, according to the Treasury. Treasury analysis of the Net-Zero Strategy said the plans would mean “the loss of significant amounts of tax revenue [...]
Drink up for £6 in London: Price of a pint of beer to jump by 30 pence October 19, 2021 The price of a pint of beer is reportedly set to jump by 30 pence even before any duty increases are announced in the Budget as rising costs are passed on to consumers. More than eight in 10 pubs have raised prices or plan to do so because of rising costs, including those caused by [...]
Markets today: Europe set for a modest rebound as Asia markets bounce back October 19, 2021 Not a particularly great start to a new week yesterday for markets in Europe, but having just come off the back of three days of strong gains at the end of last week, markets were probably overdue a bit of a pullback. The big question for CMC chief market Michael Hewson, chief market analyst at [...]
Labour renews pressure on government to slash business rates October 18, 2021 Labour will tomorrow renew its calls to slash business rates as it airs concerns that nearly 1m British jobs are currently at risk. Shadow chancellor Rachel Reeves will pile pressure on Rishi Sunak to entirely reform the taxation system in his autumn Budget, while pointing out that figures from the Office for National Statistics (ONS) [...]
Nightclubs warn shortage of bouncers can turn into ‘threat to public safety’ October 18, 2021 Nightclubs are urgently calling for Government intervention to a worsening shortage of bouncers which industry bosses say could become a “threat to public safety”. The Night Time Industry Association (NTIA) said last month that one in five night-life and hospitality businesses closed or reduced operating hours due to a shortage of security staff. However, it [...]
Sunak reportedly mulls cutting VAT on household energy bills to ease cost of living October 18, 2021 Rishi Sunak is reportedly considering cutting the 5 per cent rate of VAT on energy bills in a bid to cut living expenses for families this winter. Potential cuts in VAT to energy bills were touted by Vote Leave campaigners as a “Brexit dividend”, as EU rules stop countries from changing the rate, with some [...]