Newsflash: UK inflation slowed to an annual rate of 10.1% in January, according to the Office for National Statistics’ consumer prices index.
That indicates prices across the economy did not rise as quickly as expected in January after a 10.5% reading in December. Economists had predicted a rate of 10.3%.
Britain’s happiest places to live have been revealed by Rightmove, with Richmond in London claiming the number one spot this year. Winchester in Hampshire came second in the list of happiest areas to live. Monmouth in Wales is third, the first time an area from Wales has made the top three since 2018, and Galashiels is the happiest place to live in Scotland for a second...
The chancellor has announced the budget for 2023. The UK will now not enter a technical recession this year, say independent forecasters the Office for Budget Responsibility (OBR). Inflation will more than halve and reduce to 2.9% by the end of the year, the OBR expects. Parents - working 16 hours a week - of children aged nine months to five years will get 15...
The Bank of England has raised interest rates by 0.25% to 4.5% as expected today, after a majority of the Bank’s Monetary Policy Committee (MPC), headed by Governor Andrew Bailey (pictured) voted for the increase again. This increase is the 12th successive rise, taking the rate to its highest level in almost 15 years. The Bank is reacting to a stubborn inflation figure,...
The base interest rate remains at 5.25% after the Bank of England’s Monetary Policy Committee voted 5-4 against an increase. Many commentators had expected another rise in the rate, but the surprise fall in inflation probably prompted a rethink. Inflation fell slightly last month to 6.7% from 6.8% in July, prompting some analysts to predict that the Bank would steer away...
