Tag: inflation

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OECD warns inflation surge could undermine global recovery – business live

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Rolling coverage of the latest economic and financial news, including the OECD’s new economic outlook

Erdoğan gambles on economy amid protests and rocketing inflation

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Turkey’s president is gambling that a strong economic recovery from the pandemic will stay on track despite rocketing inflation that has hit living standards and sparked protests in major cities. The $750bn economy is...

Inflation surge and labour market boom may spur UK rate hike, warns economist

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The Bank of England’s chief economist has warned that the UK’s buoyant labour market and rapidly rising inflation is pushing the central bank closer to raising rates at its next meeting in December. Huw Pill said the ...

When inflation bites, support for the Tories will further erode

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Inflation has hit its highest level in a decade. For most people, prices are rising faster than wages. Energy bills are soaring. The Bank of England is poised to raise interest rates next month. Personal taxes are goi...

UK’s decade-high inflation makes December rate rise ‘more likely’; gas prices climb again – business live

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Rolling coverage of the latest economic and financial news

UK inflation jumps to highest level in 10 years as energy bills soar

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UK inflation has increased to its highest level in a decade, hitting a rate more than double the government’s target amid a severe cost of living squeeze from soaring household energy bills. The Office for National St...

Bank of England interest rate decision still on a knife-edge despite rise in inflation

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When Bank of England officials meet next month to discuss interest rates, the betting is that today’s inflation number, showing a forecast-busting 4.2% rise in October, should convince them to respond with an increase...

Bank of England governor ‘very uneasy’ about rising inflation

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The prospect of a pre-Christmas increase in interest rates has loomed larger after the Bank of England governor told MPs he was troubled by the UK’s rising inflation rate. Giving evidence to the Commons Treasury selec...

Bank of England leaves interest rates on hold, and warns inflation will hit 5% – business live

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Rolling coverage of the latest economic and financial news

UK inflation could top 5% by early 2022, says Bank’s new chief economist

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Inflation in the UK could rise above 5% by early next year, according to the Bank of England’s new chief economist. Huw Pill, who replaced Andy Haldane in September, said that the Bank of England’s monetary policy com...

Marmite maker Unilever raises prices by 4% amid high UK inflation

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Unilever has warned that inflation could worsen next year as raw material and energy costs push up the prices of its food, toiletries and cleaning products. The maker of brands such as Marmite, Dove and Domestos said ...

UK inflation dips to 3.1% despite rising fuel and transport costs – business live

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Rolling coverage of the latest economic and financial news

Restaurants and hotels facing ‘terrifying’ 18% inflation, MPs told

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Restaurants and hotels are wrestling with “terrifying” inflation running as high as 18%, bosses have warned, as supply chain disruption and labour shortages wreak havoc in the hospitality sector. Ian Wright, chief exe...

The UK government can’t stop inflation rising – but it can act to ease the pain

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In late summer there was a sense of hope for the UK economy, as Covid restrictions were lifted and jobs started to return. But more recently the clouds have started gathering again: prices for certain goods (such as p...

Rising inflation could trigger global sell-off that would harm UK, says Bank

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The Bank of England has warned that rising inflation could trigger a sell-off in global financial markets, with damaging consequences for the UK economy. Against a backdrop of soaring energy prices and severe shortage...

Oil and gas surge fuels inflation fears, as German factory orders tumble – business live

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Rolling coverage of the latest economic and financial news

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