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Inflation

‘Stark reality!’ Inflation rise sparks UK recession fears – ‘Ducks are getting into row’

June 22, 2022 by www.express.co.uk

Gordon Brown issues warning about inflation and recession Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The Consumer Prices Index (CPI) rose by 9.1 percent in the year to May 2022 , up from 9.0 percent in April, figures released today show. Experts have today warned it means a UK recession is looking "more and more probable." Related articles Martin Lewis issues urgent warning for energy bill payers Nationwide increases interest rate to 5% on key account Last week, the Bank of England increased the Base Rate for a fifth consecutive time, this time to 1.25 percent. The central bank also warned inflation is expected to exceed 11 percent in … [Read more...] about ‘Stark reality!’ Inflation rise sparks UK recession fears – ‘Ducks are getting into row’

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‘Biggest challenge yet!’ Pensioners face staggering blow as inflation soars to 9.1 percent

June 22, 2022 by www.express.co.uk

Britons warned of damaging impact of rising inflation Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Inflation has now hit a record 40 year peak, with figures published showing the Consumer Prices Index (CPI) rising in the year to May 2022. It means increased hesitancy about financial stability, especially for those who are more vulnerable. Related articles Inheritance tax warning as you may have to sell family home fast Low income pensioners get £116 a week less than better off Brits Inflation remains well above the Bank of England’s target of two percent. This is despite the central bank increasing interest rates in an attempt to address … [Read more...] about ‘Biggest challenge yet!’ Pensioners face staggering blow as inflation soars to 9.1 percent

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Savings warning: Britons urged to avoid ‘very unwise’ decision as inflation rises

June 21, 2022 by www.express.co.uk

Martin Lewis advises on savings accounts and premium bonds Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Currently, UK inflation stands at nine percent and is expected to be raised higher tomorrow morning (June 22). Experts believe the inflation rate is likely to reach 11 percent in the autumn at a time when energy bills are forecast to reach £2,800. In the wake of this cost of living crisis, many people are looking for the best savings accounts to put their money into while they weather the financial storm. Related articles The 5 kitchen appliances pushing your energy bills up and how to fix DIYer transforms drab kitchen into a masterpiece for … [Read more...] about Savings warning: Britons urged to avoid ‘very unwise’ decision as inflation rises

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Inflation rate rise: What it means for you

June 22, 2022 by www.express.co.uk

Britons warned of damaging impact of rising inflation This article contains affiliate links, we may receive a commission on any sales we generate from it. Learn more Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info The Consumer Prices Index (CPI) rose by 9.1 percent in the year to May 2022, up from 9.0 percent in April, revealed figures released today by the Office for National Statistics (ONS). As a result, experts have warned more Britons are beginning to “feel the squeeze on their bank accounts”. Related articles Martin Lewis issues urgent warning for energy bill payers Inflation rises to 9.1 percent in staggering blow for pensioners … [Read more...] about Inflation rate rise: What it means for you

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Strike chaos and high inflation, yes, but this is not the 1970s in redux

June 22, 2022 by www.telegraph.co.uk

Mark Twain’s famous observation to the effect that history never repeats itself, but it does often rhyme, has been much in use over the past several months. Rising inflation in combination with the spectacle of disruptive strike action has made it seem like we’ve been put in a time machine and whisked back to the 1970s. There is no denying the similarities. A destabilising oil price spike in part caused by war in a faraway place; a fierce cost of living squeeze; a summer of discontent; seemingly out of control inflation; and rising interest rates. Why, bizarrely even Kate Bush is topping the charts once more. It’s all eerily reminiscent of that economically and politically troubled decade. But the world has changed a lot in 50 years, and the truth is that the dissimilarities are way bigger than the parallels. Start with the power of the unions, which despite the apparent ease with which the National Union of Rail, Maritime and Transport Workers (RMT) has brought the rail … [Read more...] about Strike chaos and high inflation, yes, but this is not the 1970s in redux

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Swiss franc ‘better than gold’ to beat inflation

June 17, 2022 by www.telegraph.co.uk

The Swiss franc is now a better hedge against spiralling inflation than gold, according to bank analysts. Deutsche Bank has said the Swiss franc is “better than gold” as a safe haven amid the cost-of-living crisis after the Swiss National Bank delivered a surprise 50 basis-point hike in interest rates. Switzerland's central bank on Thursday raised rates for the first time in 15 years with a hike from minus 0.75pc to minus 0.25pc. The central bank's decision came shortly after the US Federal Reserve raised rates by 75 basis points and comes ahead of a likely increase by the European Central Bank . Robert Winkler, currency analyst at Deutsche Bank, said: “This rate hike will come as a considerable surprise to the domestic market in particular, where expectations for any policy change today had been minimal going into this meeting. “Combined with the large rate hike, the signal to the market is even clearer than it has been in recent months: the SNB now desires a stronger … [Read more...] about Swiss franc ‘better than gold’ to beat inflation

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The three charts that show inflation is only going to get worse

June 22, 2022 by www.telegraph.co.uk

UK consumer prices rose by 9.1pc in the year to May, a fresh 40-year high , amid soaring costs for energy, transport and food. Inflation is expected to pick up further as the year goes on hitting double digits in the autumn when an increase in the energy price cap kicks in. Some price categories are easing, but there are signs that companies are still soaking up inflationary pressures into their margins. These charts show the dangers ahead. Input prices are the highest in nearly half a century Producer input prices climbed by 22.1pc in the year to May, a jump from 20.9pc in April, to hit the highest level since records began in 1985. Input costs – which measure the prices of raw materials for companies, as well as associated costs such as electricity – rose 1.2pc in May alone, although the pace of monthly increases has eased since spiking after the start of the war in Ukraine. Soaring metal costs are providing the biggest upwards push to input costs, but crude … [Read more...] about The three charts that show inflation is only going to get worse

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Rishi Sunak insists return of pension triple lock will not fuel inflation

June 22, 2022 by www.telegraph.co.uk

Rishi Sunak has insisted that plans for a 10pc boost to state pensions will not fuel an inflationary spiral but said pay rises for workers must be restrained. The Chancellor launched a defence of plans to reinstate the triple lock next year despite the decision handing pensioners a huge jump in incomes compared to weaker wage rises for workers. Mr Sunak said pay rises for workers need to be “proportionate and balanced” to stop price pressures running out of control. But he insisted that a double-digit increase in state pensions are different, as high pensioner incomes do not feed into the cost for businesses creating goods and providing services. However, the Institute for Fiscal Studies has warned that the boost to millions of pensioner incomes could in fact be inflationary if the Government borrows to fund it. Treasury minister Simon Clarke confirmed this week that the triple lock will return after being suspended for the most recent pension calculations. The triple lock … [Read more...] about Rishi Sunak insists return of pension triple lock will not fuel inflation

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How to cash in on the great inflation squeeze

June 23, 2022 by www.telegraph.co.uk

Most quarterly earnings seasons have a key theme, a question that crops up in every analyst call and press conference. Working from home, re-opening, supply chains, inflation. For a time, it’s all anyone can focus on - until the next buzz word arrives. Next month, as the April to June results emerge, my guess is that we will be hearing a great deal about ‘trading down’. How cash-strapped consumers behave and the winners and losers in a period of penny-pinching will be front of mind. A recent McKinsey report suggested that British consumers are already reacting to the cost-of-living crisis by changing how they spend. They are cutting back, in both what they buy and where they buy it. They are shifting from supermarkets to discounters , buying more own label products and cutting back on things they don’t need. The stock market is quick to react to these transitions and the relative performance of companies impacted in different ways by these trends will already be pricing them … [Read more...] about How to cash in on the great inflation squeeze

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‘Utter contempt for pensioners!’ Fury over triple lock as inflation hits new 40-year high

June 23, 2022 by www.express.co.uk

Britons warned of damaging impact of rising inflation Get pensions news and advice plus latest money alerts for FREE now SUBSCRIBE Invalid email We use your sign-up to provide content in ways you've consented to and to improve our understanding of you. This may include adverts from us and 3rd parties based on our understanding. You can unsubscribe at any time. More info Inflation has creeped up once again, according to the latest figures from the Office for National Statistics (ONS). It means purchasing power amongst Britons has declined for another consecutive month. Related articles Universal Credit: Six changes that could affect your benefit payments Martin Lewis slams energy suppliers as exit fees soar to £600 The state pension triple lock will return, next year, however, buoying pensioners with an increase that will match inflation. With the inflation news worrying some, Express.co.uk readers had their … [Read more...] about ‘Utter contempt for pensioners!’ Fury over triple lock as inflation hits new 40-year high

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