Prices which often rise and fall

Petrol and diesel prices are slowly but steadily falling in the UK, latest figures show. The average price for a litre of unleaded on Saturday, the latest figure available, was 177.46p, according to the RAC, while diesel cost an average of 188.23p. On Thursday, the prices had been 178.93p and 189.3p respectively. It comes as world oil prices fall, something analysts said was due to fears that tough economic times ahead could see a weakening in demand. Advertisement "Gains triggered by the invasion of Ukraine have now been cancelled out, as rising interest rates and the subsequent cooling this is expected to have on global economies, outweigh previous questions about a lack of supply caused by the conflict." Brent crude, the international benchmark, had shot up to more than $124 a barrel after the European Union announced in May that it would ban most oil imports from Russia as part of its sanctions package following the invasion . More from … [Read more...] about Fuel prices slowly falling in the UK as recession fears outweigh ‘war premium’

Published 20 July comments Comments Share close Share page Copy link About sharing Prices are rising faster than they have done for 40 years. The increase in the cost of living is putting a squeeze on people's finances, as incomes fail to keep up. What is inflation? Inflation is the increase in the price of something over time. For example, if a bottle of milk costs £1 and that rises by 5p compared with a year earlier, then milk inflation is 5%. Every month a figure is released, estimating how much prices are rising overall - it's currently at 9.4% . Why are prices rising so fast? Many things are contributing to the high rate of inflation, including: Energy bills , which have risen rapidly because of high oil and gas prices. They're expected to increase sharply again from October Petrol and diesel prices , partly because the war … [Read more...] about What is the UK inflation rate and why is the cost of living rising?

By Esyllt Carr Published 2 days ago Share close Share page Copy link About sharing More than a third of people across England, Wales and Scotland are cutting back on food and essentials in order to help with the cost of living, a new survey has shown. The research, carried out by the Office for National Statistics, found that figure was even higher for some groups. These included disabled people, those renting, and those with lower incomes. It comes as the UK is forecast to fall into recession this year, with the longest downturn since 2008 predicted. The latest figures from the ONS suggest 9 in 10 - or around 46 million people - have seen their cost of living go up in last month. The research, carried out between the end of March and June 19th, suggests that more than half are reducing how much gas and electricity they use at home, with that figure rising to nearly 6 in … [Read more...] about Cost of living: Over a third cut back on essentials

If the longest recession since the financial crisis and deepest fall in living standards since the 1960s were not bad enough, Britain is also facing economic humiliation on the international stage – if you believe Government critics. Keir Starmer last month accused former chancellor Rishi Sunak and Prime Minister Boris Johnson of leaving the UK with an “appalling joint economic legacy of the highest inflation and the lowest growth in the G7”. The G7 comparison paints Britain’s painful 9.4pc annual price rise in June as a remarkable outlier, but that does not depict the full picture. Firstly, much of the G7 is in a very similar position: US inflation is at 9.1pc and Germany at 8.2pc. Secondly, the UK is suffering less inflation than the average EU nation – price rises averaged 9.6pc in June across the bloc. Figures on the continent range from 6.1pc in Malta – high by historic standards but unusually low today – to a scorching 22pc in Estonia, according to data from … [Read more...] about Why Europe is suffering a worse inflation crisis than Britain

Published 30 June Share close Share page Copy link About sharing A third of Scots are cutting back spending on food and other essentials due to the cost of living crisis, according to a new report. The Fraser of Allander Institute is also warning that Scotland's recovery from the pandemic is starting to falter. It says rising prices are taking a toll on both companies and consumers. The think tank says it now expects growth of 0.5% next year, instead of the 1.5% it previously forecast. In its latest quarterly economic commentary report, the institute said consumers were starting to modify their spending behaviour in response to the ongoing crisis. More than half reported spending less on non-essential items. A third said they were spending less on essential items such as food and fuel, while the cost of properties is seeing a significant increase. It mirrors the … [Read more...] about Cost of living crisis: Third of Scots cut back spending on essentials

ADELE’S postponed Las Vegas residency has finally been booked in – with the opening night coming in November. According to information leaked from Ticketmaster in the US, Weekends With Adele will be held at The Colosseum at Caesars ­Palace from November 18 and end on February 24. And sources told how a formal announcement of the rearranged dates is expected before the end of the month. It is understood bosses at the Sin City venue are now pushing for the dates to be made public, in an attempt to give fans as much time as possible to make arrangements. One source said last night: “The buzz is that we are gearing up for a ­booking announcement before the end of the month. “It has been a hugely stressful time for the ­exec here, because they staked so much money on her deal. Read More on Adele HIT THE JACKPOT UK winner SCOOPS £195million jackpot - making them the biggest winner ever RUMOUR HAS IT Adele poised to … [Read more...] about New dates for Adele’s Las Vegas shows revealed after pop superstar sensationally pulled plug

After lockdown raided the savings of hairdresser and gym instructor Lucie Wilby, a lengthy wait for a hip replacement dealt another blow to her family’s finances. “We’re in a lot of debt because of it and that’s a combination of Covid and obviously surgery [and] waiting times,” the 53-year-old mother from Cornwall says. “If I hadn’t had to wait six months, we’d be nowhere near this issue.” Like many of the 6.6 million people on an NHS waiting list, work had become painful and eventually impossible for Wilby as the backlog in treatment forces people to cut their hours or stop employment altogether. “By the time of the operation, I was barely walking and I’m self employed,” she says. “It took about three years to get diagnosed. That’s one of the major problems – it’s not just the waiting time for the operation once you’re on the list, it’s the waiting time for diagnosis.” While tax cuts and even trans issues may have stolen the limelight in the Tory leadership race, the … [Read more...] about Britain really isn’t working – and the collapsing NHS is to blame