Tag: soaring

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UK businesses slash investments due to soaring prices and Brexit

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UK business leaders are slashing investment plans as soaring prices, Brexit trading difficulties and political uncertainty all leave bosses pessimistic about the economic outlook. As many firms are now planning to cut...

Era of soaring house prices is ending as central banks raise rates

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It’s over. An era of ever-rising house prices stimulated by cheap money is coming to an end. Central banks created a colossal real estate boom and soon they will have to cope with the consequences of the bubble being ...

Rise of Omicron subvariants sends UK staff absence soaring

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The rapid spread of Covid-19 infections in the past month has sent the number of workers taking sick leave soaring, according to official figures, making staff shortages even worse and forcing many employers to shut d...

Despite Australia’s soaring inflation rate, some economists say the peak may be ‘coming into view’

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Some economists have tipped that the inflation rate has started to plateau, even after the Australian consumer price index on Wednesday showed the fastest annual pace of inflation since 2001. Australian prices rose 6....

These soaring temperatures have given Britain a taste of the dystopia to come

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Back in late February 2020, in the days before the pandemic, I spent a morning in a taxi listening to the news and wondering what it meant to preserve a moment. There was the slow-motion sensation that life as we knew...

Soaring inflation pushes interest payments on UK debt to record high in June

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Soaring inflation pushed interest payments on UK debt to a record high in June, putting the government’s budget deficit on course to reach more than £100bn this year, almost double its pre-pandemic level. Highlighting...

Soaring childcare costs in UK to hit hard-up parents this summer

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The cost of childcare over the holidays is likely to be the highest on record this summer as providers of activity camps and other paid-for care are forced to put up prices, while others have gone out of business alto...

Forest fires rage across Europe as heatwave sends temperatures soaring

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Firefighters in Portugal, Spain, France, Greece and Morocco are battling forest fires raging across tens of thousands of hectares as this week’s heatwave continues to bring extreme temperatures and cause hundreds of d...

Soaring prices push 1.6m more UK households into financial trouble – study

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Soaring prices have plunged more people into financial trouble than Covid-19, according to a study tracking the fortunes of UK households since the start of the pandemic. A total of 1.6 million more households are str...

‘It feels like a tipping point’: drivers on the soaring petrol and diesel prices

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Prices at the pump continue to climb, with the average cost of a litre of petrol hitting 191.5p on Sunday, while diesel reached 199.0p. The soaring costs, which have triggered protests by motorists in parts of England...

Turkey hit with soaring prices as inflation nears 80%

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Turkey’s official inflation rate increased to almost 80% last month – the highest in 24 years – as President Recep Tayyip Erdoğan’s unconventional economic policies continued to drive up the cost of living. The growth...

Soaring inflation pushes UK borrowing to £14bn in May

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Government borrowing was higher than expected in May at £14bn as soaring inflation sent interest payments on the UK’s debt to a monthly record. The Office for National Statistics (ONS) said debt interest payments leap...

Net-zero rules set to send cost of new homes and extensions soaring

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New building regulations aimed at improving energy efficiency are set to increase the price of new homes, as well as those of extensions and loft conversions on existing ones. The rules, which came into effect on Wedn...

Schools and libraries face huge cuts after soaring costs create £1.7bn shortfall

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School-building projects, swimming pools and libraries have been earmarked for emergency funding cuts because town halls have been hit by an unexpected £1.7bn hole in their budgets, the Guardian can reveal. Rampant in...

Soaring US car prices compel buyers to travel thousands of miles for deals

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After an auto dealer demanded $10,000 above sticker price for a new hybrid vehicle, car shopper Michael Rathjen of Kirkland, Washington, resolved to pay no more than the manufacturer’s suggested retail price (MSRP) fo...

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