Topic filter : Inflation

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....The move follows a ballot which produced a 95% vote for strike action. The union said its members were angry that, for the second year in a row, they had been offered a pay rise that was below the rate of inflation. ... [Read full article on BBC ]
Monday 3rd of July 2017 12:28:05 PM
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....The critical turning point – away from this system of trade balanced against national protections – came in the 1980s. Flagging growth and high inflation in the west, along with growing competition from Japan, opened the way for a political transformation. ... [Read full article on Guardian ]
Friday 14th of July 2017 04:28:14 AM
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. Record levels of employment will fail to prevent the economy’s growth rate slowing this year and next during a period when consumer spending will be squeezed by rising inflation and falling living standards, the consultancy firm PwC has predicted. ... [Read full article on Guardian ]
Tuesday 18th of July 2017 05:01:11 AM
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....”. Poundland has launched copycat versions of several confectionery favourites as part of its strategy to keep a lid on inflation. ... [Read full article on Guardian ]
Sunday 16th of July 2017 02:09:27 PM
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...."And understandably people are feeling frustrated and squeezed by that squeeze on their purchasing power in the shops," Mr Haldane said. UK inflation rate at highest since 2013. ... [Read full article on BBC ]
Thursday 29th of June 2017 09:10:00 PM
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.... She led the water watchdog through a review of sector prices in 2014 and the opening of a new business retail market in England. Under Ross, Ofwat, which sets limits on water charges every five years, cut bills by an average of 5% before inflation in December 2014. ... [Read full article on Guardian ]
Wednesday 19th of July 2017 11:02:57 AM
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.... The average increase was £4,150 per hire for small and medium-sized firms and £5,575 per hire for larger organisations. While the firms surveyed highlighted higher starting salaries for new hires, official figures have shown average wage growth in Britain has slowed and fallen behind inflation, meaning many workers are worse off in real terms. ... [Read full article on Guardian ]
Monday 3rd of July 2017 06:01:04 AM
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....But while the rich have been thriving, the thinktank said the other 99% of UK households had found it more difficult to make ends meet. It added that the year running up to last month’s general election had seen weaker wage growth, higher inflation and frozen welfare benefits and that these offset any gains from rising employment. ... [Read full article on Guardian ]
Friday 14th of July 2017 11:01:36 PM
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Monday 3rd of July 2017 08:55:43 AM
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.... It looked at bills for gas, electricity, water, TV, phone and so on – and found they have escalated in price far, far ahead of average wage rises. Since 2006, average pay packets in Britain have gone up by 19% in pounds and pence terms (in other words, not adjusting for inflation). ... [Read full article on Guardian ]
Saturday 1st of July 2017 06:00:07 AM
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....Michael Saunders used a Guardian interview to explain why he had voted for a rate rise last month and to emphasise that it was no longer necessary for Threadneedle Street to keep its foot to the floor with record low borrowing costs. The external member of the monetary policy committee (MPC) said the economy had confounded gloomy forecasts made in the aftermath of the referendum and he warned inflation would climb higher and stay well above the Bank’s target for longer without action. ... [Read full article on Guardian ]
Tuesday 4th of July 2017 04:27:07 PM
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....“When you already have countries like Portugal and Slovenia ranking higher than the United States on the overall index, we think that’s a concern considering the wealth of the US,” Paul O’Brien, Oxfam America’s vice-president for policy and campaigns, told the Guardian. If the White House passes its budget, which would slash social service spending and could leave millions of Americans without health insurance, the US would fall behind Greece, which is crippled by a debt crisis; Spain, which for 10 months in 2016 did not have a government; and Argentina, which has been plagued by high inflation, according to the report. ... [Read full article on Guardian ]
Sunday 16th of July 2017 11:01:34 PM
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....61 according to a report by KPMG. The accountancy firm warned households would face above-inflation price rises for imported breakfast classics such as olive oil, bacon and orange juice if Britain left the EU without a deal and defaulted to the World Trade Organisation’s (WTO) customs rules. ... [Read full article on Guardian ]
Monday 10th of July 2017 05:01:05 AM
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....The slowdown in recent months follows five years of growth in new car sales, which has helped to underpin consumer-led growth in the wider economy. Unions have warned that UK households face a fresh crisis in living standards as inflation rises faster than wages, leaving consumers with less money to spend. ... [Read full article on Guardian ]
Wednesday 5th of July 2017 09:54:18 AM
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.... From September, students will be forced to pay higher interest rates on their loans of 6. 1% after a surge in inflation. ... [Read full article on Guardian ]
Tuesday 4th of July 2017 11:01:12 PM
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....Demand for deals on British strawberries and its summer eating range added to Sainsbury's grocery sales, which were up 3%. Food price inflation also contributed to a rise in sales at the supermarket's checkouts. ... [Read full article on BBC ]
Tuesday 4th of July 2017 07:07:05 AM
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....Doug Crawford, chief executive of conveyancing website My Home Move, said that despite the slight slowdown, “the housing market is still simmering away nicely. Even though the overall growth rate has fallen, for first time buyers the slower rate of house price growth will be welcome, particularly with inflation running ahead of wages for many. ... [Read full article on Guardian ]
Tuesday 18th of July 2017 01:05:46 PM
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....“Although challenges remain in recruiting both skilled and unskilled labour, businesses are anticipating higher sales, increased profits and staffing levels to rise, which is all very positive for the economy. “With details of the terms of Britain’s exit from the EU still to come, inflation on the rise and general volatility and uncertainty in the economy, the outlook remains mixed at best. ... [Read full article on Guardian ]
Sunday 25th of June 2017 11:01:43 PM
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.... It said a hung parliament and “austerity fatigue”, alongside longer-term developments such as a rapidly ageing population, were also factors putting upward pressure on the deficit. The almost inevitable likelihood of a recession in the years ahead, along with higher interest rates and inflation, also posed significant risks to the public finances, threatening to put them on an “unsustainable path”. ... [Read full article on Guardian ]
Thursday 13th of July 2017 12:07:53 PM
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....25% after Brexit – and financial policy instruments. “Monetary policy is the last line of defence to address financial stability issues,” he said, with monetary policy focused on keeping inflation at its target rate of 2% rather than controlling lending. ... [Read full article on Guardian ]
Tuesday 27th of June 2017 09:44:48 AM
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.... We save £1,000 a month to pay off lump sums each time we switch fixed-rate deals. A Your savings are already worth less than they were before the Brexit vote, because the sharp fall in the value of the pound pushed inflation (as measured by the consumer prices index) to a four-year high of 2. ... [Read full article on Guardian ]
Thursday 13th of July 2017 06:00:00 AM
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....On Friday, the Bureau of Labor Statistics said the US had added 222,000 new jobs in June, comfortably beating expectations. But, once again, most of those jobs were in low-paying industries, and wages are barely keeping pace with inflation. ... [Read full article on Guardian ]
Sunday 9th of July 2017 07:00:18 AM
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....Bars, pubs and restaurant chains are pulling back on expansion and may close outlets amid big rises in food and drink costs. Food price inflation for licensed businesses is running at 9% according to the Association of Licensed Multiple Retailers, while drink costs are rising by up to 7%, partly as a result of the fall in the value of the pound since last year’s Brexit vote. ... [Read full article on Guardian ]
Tuesday 11th of July 2017 04:52:05 PM
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....1% in May. The rise comes despite a weaker backdrop by household finances, which are being squeezed as inflation outpaces wage growth. ... [Read full article on Guardian ]
Wednesday 28th of June 2017 09:37:05 AM
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.... She popped up on Thursday to accuse her colleagues on the monetary policy committee of keeping rates low by virtue of a colossal misjudgment. They had failed to understand that inflation would soon rocket, demanding a rise in rates to calm the situation. ... [Read full article on Guardian ]
Sunday 25th of June 2017 06:00:22 AM
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....Lord Lawson called on ministers to formulate the policy behind closed doors, adding: "Stop having this debate in public, it's ludicrous". Speaking to business leaders at a CBI dinner, Mr Hammond acknowledged there was widespread frustration at the stagnation in real-terms pay growth at a time of rising inflation. ... [Read full article on BBC ]
Tuesday 4th of July 2017 06:45:30 AM
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....Much of the reason for their optimism was a change of stance at the Federal Reserve. The US central bank signalled in late 2015 that the post-crash era of low inflation and low interest rates was coming to an end. ... [Read full article on Guardian ]
Saturday 22nd of July 2017 07:00:32 AM
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....Five years on, Theresa May and Philip Hammond have the same problem. Consumers are being squeezed by higher inflation and have already run down their savings. ... [Read full article on Guardian ]
Sunday 9th of July 2017 12:08:40 PM
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....The sharp change in spending behaviour noted at John Lewis comes amid growing signs of a consumer slowdown. Official data published last month showed British workers’ earnings after inflation have been shrinking at their fastest pace since 2014. ... [Read full article on Guardian ]
Saturday 15th of July 2017 08:00:01 AM
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. First, a little primer on inflation. ... [Read full article on Guardian ]
Thursday 20th of July 2017 02:20:35 PM
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Latest Finance News related to Inflation

Greed is no longer good – bond boom comes to an end image
Source : Guardian [Read Article] Saturday 22nd of July 2017 07:00:32 AM
....Much of the reason for their optimism was a change of stance at the Federal Reserve. The US central bank signalled in late 2015 that the post-crash era of low inflation and low interest rates was coming to an end. ...
Savers warned as pension SUPER tax stings 80% more people image
Source : Daily Express [Read Article] Friday 21st of July 2017 03:58:00 PM
.... It means anyone who saves more than this sum into pensions will be hit with the super tax. Although the sum sounds large, the effects of inflation and a lifetime of savings means many people caught out are not the super rich, according to Tim Holmes, managing director of Salisbury House Wealth. ...
Budget deficit leaps as Brexit-fuelled inflation troubles Hammond image
Source : Guardian [Read Article] Friday 21st of July 2017 11:29:19 AM
....The deficit is already expected to rise from full-year borrowing of £46bn last year to £58bn this year. With a queue of government departments clamouring for inflation-busting rises in their funding before the autumn budget, the early signs are that Hammond will be reluctant to put extra cash on the table. ...
Peak Bake Off? UK's home baking boom soggy bottom image
Source : Guardian [Read Article] Thursday 20th of July 2017 05:31:44 PM
....Maureen Hinton, group research director at retail consultancy GlobalData, said that the trend was likely to continue unless Channel 4 was able to come up with “something very different that inspires people’s interest”. As budgets are squeezed by rising inflation, which is reducing families’ spending power, Hinton said cooking main meals from scratch might rise but baking was a “niche activity”. ...
SSE loses 230,000 customers in 'highly competitive' UK market image
Source : Guardian [Read Article] Thursday 20th of July 2017 05:28:01 PM
....”. The group said it was maintaining its target of increasing the year’s dividend by at least RPI inflation, which was welcomed by analysts. ...
Warm weather drives UK shoppers back to the high street image
Source : Guardian [Read Article] Thursday 20th of July 2017 02:21:55 PM
....“The GDP figures for the second quarter are likely to confirm this picture of subdued economic growth. The vote for Brexit has created a more uncertain climate for business and a squeeze on consumers from higher inflation. ...
Mr Kipling maker hit by shoppers' switch to own-label products image
Source : Guardian [Read Article] Thursday 20th of July 2017 08:29:00 AM
....4% – but sales of non-branded products (puddings produced for supermarkets’ own-label ranges) surged by nearly 18%. Brits are increasingly opting for supermarkets’ own-label products as they try to manage the impact of rising inflation and falling real wages on family finances. ...
Mike Ashley brushes off 60% dive in profits as shares in Sports Direct rise image
....“The retailer is trying to reinvent itself into the Selfridges of sports in the UK, while at the same time launching in the US, and fighting off concerns from shareholders and MPs about corporate governance and working conditions in the UK. All this while the weak pound is increasing costs, and the British consumer is facing rising inflation and weak wage growth – not a pretty combination for the price-sensitive shoppers who turn to Sports Direct for a bargain,” Khalaf warned. ...
Shares in Asia head for 10-year high on back of US profit surge image
Source : Guardian [Read Article] Thursday 20th of July 2017 04:19:56 AM
....83 to the dollar early on Thursday. The Bank of Japan ended its two-day policy meeting on Thursday by keeping rates on hold but cut its inflation forecasts again. ...
We can only address pay imbalances if we can see them | Nils Pratley image
Source : Guardian [Read Article] Wednesday 19th of July 2017 06:43:44 PM
.... Its worry may be justified. In the wider world of big public companies, transparency and inflation have been co-travellers. ...
Ofwat chief quits for private sector job image
Source : Guardian [Read Article] Wednesday 19th of July 2017 11:02:57 AM
.... She led the water watchdog through a review of sector prices in 2014 and the opening of a new business retail market in England. Under Ross, Ofwat, which sets limits on water charges every five years, cut bills by an average of 5% before inflation in December 2014. ...
Russell Group urges rethink on student loan interest rate image
Source : Guardian [Read Article] Tuesday 18th of July 2017 05:40:15 PM
....Dr Tim Bradshaw, the Russell Group’s acting director, described the rate as “very high” and “out of touch” with commercial lending rates. “A reassessment here now seems highly appropriate as inflation starts to return,” he said. ...
UK house prices rise nearly 5% despite political turmoil image
Source : Guardian [Read Article] Tuesday 18th of July 2017 01:05:46 PM
....Doug Crawford, chief executive of conveyancing website My Home Move, said that despite the slight slowdown, “the housing market is still simmering away nicely. Even though the overall growth rate has fallen, for first time buyers the slower rate of house price growth will be welcome, particularly with inflation running ahead of wages for many. ...
Surprise drop in UK inflation is good news for consumers | Larry Elliott image
. Rising inflation has been one of the big economic stories of the past year. ...
Lower fuel prices slow pace of UK inflation image
Source : Guardian [Read Article] Tuesday 18th of July 2017 08:56:34 AM
UK growth will slow as consumer spending is squeezed, forecasts PwC image
Source : Guardian [Read Article] Tuesday 18th of July 2017 05:01:11 AM
. Record levels of employment will fail to prevent the economy’s growth rate slowing this year and next during a period when consumer spending will be squeezed by rising inflation and falling living standards, the consultancy firm PwC has predicted. ...
UK inflation figures will shine light on impact of pound's Brexit slide image
. Fresh evidence of the impact of the post-Brexit depreciation in the value of the pound will be revealed on Tuesday with the release of the latest set of official inflation figures. ...
Cost of UK car insurance leaps 11% to record high image
Source : Guardian [Read Article] Monday 17th of July 2017 11:01:03 PM
. The cost of car insurance has soared by 11%, nearly four times the rate of inflation, over the past year, taking the cost of motor cover to a record high. ...
UK business confidence at lowest point for six years, say forecasters image
....”. He said consumer spending, the economy’s main engine of growth, would continue to lose momentum as the pound’s collapse since the Brexit vote continued to stoke inflation. ...
Trump's tax proposal would push US below Greece on inequality index image
Source : Guardian [Read Article] Sunday 16th of July 2017 11:01:34 PM
....“When you already have countries like Portugal and Slovenia ranking higher than the United States on the overall index, we think that’s a concern considering the wealth of the US,” Paul O’Brien, Oxfam America’s vice-president for policy and campaigns, told the Guardian. If the White House passes its budget, which would slash social service spending and could leave millions of Americans without health insurance, the US would fall behind Greece, which is crippled by a debt crisis; Spain, which for 10 months in 2016 did not have a government; and Argentina, which has been plagued by high inflation, according to the report. ...
Low-paid should receive inflation-only rises, say business leaders image
Source : Guardian [Read Article] Sunday 16th of July 2017 06:13:15 PM
. Low-paid workers in the private sector should see their wages restricted to inflation-only rises, according to business leaders, who have said that without the real-terms freeze, they could be forced to make job cuts. ...
Poundland delays launch of Twin Peaks chocolate bar amid legal row image
Source : Guardian [Read Article] Sunday 16th of July 2017 02:09:27 PM
....”. Poundland has launched copycat versions of several confectionery favourites as part of its strategy to keep a lid on inflation. ...
'The lipstick effect': Britons treat themselves as budgets tighten image
Source : Guardian [Read Article] Saturday 15th of July 2017 08:00:01 AM
....The sharp change in spending behaviour noted at John Lewis comes amid growing signs of a consumer slowdown. Official data published last month showed British workers’ earnings after inflation have been shrinking at their fastest pace since 2014. ...
Top 1% of households in UK fully recovered from financial crisis image
Source : Guardian [Read Article] Friday 14th of July 2017 11:01:36 PM
....But while the rich have been thriving, the thinktank said the other 99% of UK households had found it more difficult to make ends meet. It added that the year running up to last month’s general election had seen weaker wage growth, higher inflation and frozen welfare benefits and that these offset any gains from rising employment. ...
Retirement age MUST rise or young families pay the price, pension committee head warns image
....". Mr Field said there should instead be a double lock - where income rises by either the higher of inflation or average earnings - a policy that was expected to be introduced by the Conservatives, had Theresa May won a majority. ...
Rise in credit card default rate adds to concerns over household finances image
....Default rates “increased significantly” between April and June, and lenders expect rates to increase further on credit card lending in the third quarter, the Bank said in its latest credit conditions survey. It comes as family finances are put under increasing strain by a sustained period of falling real pay, as inflation outpaces wage growth, shrinking disposable incomes. ...
UK public finances face twin threat from Brexit and downturn, says OBR image
Source : Guardian [Read Article] Thursday 13th of July 2017 12:07:53 PM
.... It said a hung parliament and “austerity fatigue”, alongside longer-term developments such as a rapidly ageing population, were also factors putting upward pressure on the deficit. The almost inevitable likelihood of a recession in the years ahead, along with higher interest rates and inflation, also posed significant risks to the public finances, threatening to put them on an “unsustainable path”. ...
Is paying off the mortgage a better bet than saving? image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:00:00 AM
.... We save £1,000 a month to pay off lump sums each time we switch fixed-rate deals. A Your savings are already worth less than they were before the Brexit vote, because the sharp fall in the value of the pound pushed inflation (as measured by the consumer prices index) to a four-year high of 2. ...
Key Bank of England policymaker 'not ready' for interest rate rise image
Source : Guardian [Read Article] Wednesday 12th of July 2017 05:45:21 PM
.... “Stocks are back in the swing of things, with the Dow hitting new record highs in the wake of a dovish testimony from Janet Yellen in Washington,” he said, in an interview with the Aberdeen Press and Journal. “To some extent Yellen provided a relatively hawkish statement given her declaration that rate hikes should continue despite falling inflation. ...
Channel 4 chief David Abraham receives record pay package image
Source : Guardian [Read Article] Wednesday 12th of July 2017 01:25:12 PM
....“This is a heated issue and a very political one,” said Jay Hunt, Channel 4’s outgoing chief creative officer. “I am very much of the view that it is inflationary and causes competitive situations with other broadcasters and is not an effective way of managing talent. ...
UK interest rates aren't about to rise as real pay slides | Larry Elliott image
....If there was any serious doubt about the outcome of the August meeting of the Bank’s monetary policy committee, the latest news from the labour market puts the issue to rest. Unemployment matters to the eight members of the Bank’s monetary policy committee because they are looking for evidence that a reduction in the jobless rate – a tightening of the labour market in the jargon of the trade – is leading to a pick-up in wage inflation. ...
UK pay squeeze intensifies as real wages continue to fall image
Source : Guardian [Read Article] Wednesday 12th of July 2017 10:35:05 AM
....UK consumers are suffering a sustained fall in living standards as real pay fell again in the three months to May, piling more pressure on cash-strapped households. Regular pay adjusted to account for the impact of inflation fell by 0. ...
M&S investors spooked by slowdown in food sales image
Source : Guardian [Read Article] Tuesday 11th of July 2017 06:24:59 PM
....1% decline – contrasting with a 0. 6% rise pencilled in by analysts – comes at a time when sales of its supermarket rivals have been boosted by inflation and the recent heatwave. ...
Bar and restaurant chains scale back UK expansion as costs rise image
Source : Guardian [Read Article] Tuesday 11th of July 2017 04:52:05 PM
....Bars, pubs and restaurant chains are pulling back on expansion and may close outlets amid big rises in food and drink costs. Food price inflation for licensed businesses is running at 9% according to the Association of Licensed Multiple Retailers, while drink costs are rising by up to 7%, partly as a result of the fall in the value of the pound since last year’s Brexit vote. ...
Political upheaval will lead to UK economy slowing down, says Moody's image
Source : Guardian [Read Article] Tuesday 11th of July 2017 12:51:23 PM
....25% for another two years. S&P’s senior economist, Boris Glass, said: “Given demand weakness, the temporary nature of imported inflation, moderate domestic wage pressures, and Brexit uncertainties, we expect the Bank of England’s current ultra-accommodative stance to continue over the medium term and expect a first rate hike to occur only in mid-2019. ...
Central banks are ending policies like QE – but they'll be back | Nouriel Roubini image
.... But negative interest rates impose costs on savers and banks, which are then passed on to customers. Third, central banks could change their target rate of inflation from 2% to, say, 4%. ...
Brexit breaks breakfast? Hard Brexit could mean hard luck for fry-up fans image
....61 according to a report by KPMG. The accountancy firm warned households would face above-inflation price rises for imported breakfast classics such as olive oil, bacon and orange juice if Britain left the EU without a deal and defaulted to the World Trade Organisation’s (WTO) customs rules. ...
Spending falls at fastest rate for four years as consumers tighten belts image
....“June data provides further evidence that an increase in the cost of living, coupled with slowing wage growth, are beginning to squeeze household disposable income,” said Kevin Jenkins, UK and Ireland managing director at Visa. “It’s clear that inflation is beginning to affect shopping habits, with consumers diverting their spending to essentials. ...
The Guardian view on abolishing student fees: easier to say than to do | Editorial image
....In coalition, the Lib Dems reluctantly conceded, amid noisy and occasionally violent protest, to raise fees to £9,000 a year. Teaching grants to universities were cut; for the first time student loans attracted above-inflation interest rates. ...
House price pick-up allays fears of property market crash image
Source : Daily Express [Read Article] Sunday 9th of July 2017 03:37:00 PM
Trump's growth problem: jobs boost masks trouble ahead for US economy image
....On Friday, the Bureau of Labor Statistics said the US had added 222,000 new jobs in June, comfortably beating expectations. But, once again, most of those jobs were in low-paying industries, and wages are barely keeping pace with inflation. ...
In other circumstances, we’d raise rates. But with Brexit looming, how can we? image
.... This movement of people is expected to raise pay rates for the domestic population and feed through into higher prices. With inflation already at 2. ...
Ending austerity means increasing taxes or deficit, warns thinktank image
Source : Guardian [Read Article] Saturday 8th of July 2017 07:00:02 AM
....Far more households are affected by the freeze on benefits than by the public sector pay cap, but the foundation said the cost of unfreezing them would be lower. Allowing working age benefits to rise in line with inflation from next April would cost £3. ...
US jobs report shows sharp recovery in June but wage growth remains slow image
....5% from a year ago and little changed from prior months. These numbers are not adjusted for inflation, so “real” wage growth is close to 1%. ...
Butter price at all-time high as dairy production curdles image
Source : Guardian [Read Article] Friday 7th of July 2017 11:28:15 AM
....The warnings about shortages in the UK echo the situation in France, where prices of butter by the tonne doubled in a year, according to the baking industry body Fédération des Entrepreneurs de la Boulangerie. In the UK, where 98% of us put butter in our weekly shopping basket, butter has been cited as a key driver of inflation. ...
HOUSE CRISIS WARNING: Higher interest rates could hit London prices, says top estate agent image
.... Home values rebounded last month, as tracked by Nationwide, but this momentum may not last, said the estate agent. Policymakers have dropped major hints in recent weeks that interest rates could soon be hiked for the first time in a decade amid rising inflation. ...
Primark's sales soar as shoppers snap up low-cost summer fashions image
Source : Guardian [Read Article] Thursday 6th of July 2017 04:21:37 PM
....But John Bason, finance director at Primark’s parent company, AB Foods, said the fashion chain had returned to form over the past three months. He said the retailer’s success was helped by the recent good weather and its “value” fashion appealing to increasingly hard-up Britons as inflation bites. ...
Household income falls at fastest pace for five years  image
Source : Daily Express [Read Article] Thursday 6th of July 2017 03:42:00 PM
. The latest official figures revealed that adjusted for inflation real household disposable income per head dropped by 2 per cent year-on-year in the first quarter - the steepest decline since the end of 2011. ...
UK faces tightest squeeze on household incomes for five years image
Source : Guardian [Read Article] Thursday 6th of July 2017 12:57:38 PM
....The figures add to evidence of falling living standards in the months running up to the general election when the Conservatives failed to win a majority. Households have been hit by a double whammy of slow wage growth and rising inflation. ...
Family of four needs 'at least' £40,800 a year, says thinktank image
Source : Guardian [Read Article] Thursday 6th of July 2017 05:01:34 AM
. Rising inflation and less generous state benefits have made it harder over the past year for families on tight budgets to enjoy what the public considers a decent standard of living, according to one of Britain’s leading thinktanks. ...
Russia's future looks bleak without economic and political reform | Kenneth Rogoff image
.... At the same time, though, the CBR moved aggressively to force smaller banks to raise capital and write down bad loans (something European policymakers have taken forever to do). And, in the face of intense lobbying by powerful oligarchs, the CBR kept interest rates up to tame inflation, which had reached more than 15% but has since fallen to close to 4%. ...
UK services sector growth hits four-month low amid Brexit fears image
Source : Guardian [Read Article] Wednesday 5th of July 2017 11:39:28 AM
....Some analysts said the weak set of figures indicated a broad softening in activity across the economy that was likely to dent the enthusiasm of Bank of England policymakers who have proposed increasing interest rates. Earlier this week, monetary policy committee members Michael Saunders and Ian McCafferty said persistent inflation and strong employment growth needed to be calmed by higher interest rates. ...
Decade in the doldrums for hard-hit savers as low interest rates remain the same image
....40 per cent, while even best-buy deals barely return 1 per cent. This means the value of your savings are plunging in real terms, with inflation recently hitting 2. ...
UK car sales fall in June for third month in a row image
Source : Guardian [Read Article] Wednesday 5th of July 2017 09:54:18 AM
....The slowdown in recent months follows five years of growth in new car sales, which has helped to underpin consumer-led growth in the wider economy. Unions have warned that UK households face a fresh crisis in living standards as inflation rises faster than wages, leaving consumers with less money to spend. ...
Public sector pay cap is matter for future budgets, says Grayling image
Source : Guardian [Read Article] Wednesday 5th of July 2017 07:56:11 AM
....One senior Treasury figure said despite that, things would continue to be financially constrained in the run-up to Brexit. Raising public sector pay in line with inflation at 2. ...
Savers left in the red after a decade of low interest rates image
Source : Guardian [Read Article] Wednesday 5th of July 2017 06:34:13 AM
....9% on notice accounts. This collapse in interest rates and 26% inflation over the 10-year period has turned £1,000 cash in a savings account in 2007 into £878 in real terms, according to Hargreaves Lansdown. ...
Poorest students will finish university with £57,000 debt, says IFS image
Source : Guardian [Read Article] Tuesday 4th of July 2017 11:01:12 PM
.... From September, students will be forced to pay higher interest rates on their loans of 6. 1% after a surge in inflation. ...
Lloyds and the FCA must give full story on HBOS Reading fraud | Nils Pratley image
.... Really? The 2. 3% like-for-like improvement in the first quarter may be the highest figure in ages but, if we’re talking “best,” one should adjust for the inflationary breezes now blowing through grocery-land. ...
Bank of England's Michael Saunders: 'Prepare for higher interest rates' image
....Michael Saunders used a Guardian interview to explain why he had voted for a rate rise last month and to emphasise that it was no longer necessary for Threadneedle Street to keep its foot to the floor with record low borrowing costs. The external member of the monetary policy committee (MPC) said the economy had confounded gloomy forecasts made in the aftermath of the referendum and he warned inflation would climb higher and stay well above the Bank’s target for longer without action. ...
Sainsbury's sales helped by hot weather image
Source : BBC [Read Article] Tuesday 4th of July 2017 07:07:05 AM
....Demand for deals on British strawberries and its summer eating range added to Sainsbury's grocery sales, which were up 3%. Food price inflation also contributed to a rise in sales at the supermarket's checkouts. ...
Sainsbury's sales sizzle as shoppers snap up paddling pools image
Source : Guardian [Read Article] Tuesday 4th of July 2017 06:53:35 AM
....Coupe said shoppers were snapping up Sainsbury’s own-label products after it had implemented hundreds of quality improvements and held prices on basics including milk, chicken breast and eggs. He said inflation, which is now running at more than 2. ...
Hammond says UK must 'hold nerve' over public pay image
Source : BBC [Read Article] Tuesday 4th of July 2017 06:45:30 AM
....Lord Lawson called on ministers to formulate the policy behind closed doors, adding: "Stop having this debate in public, it's ludicrous". Speaking to business leaders at a CBI dinner, Mr Hammond acknowledged there was widespread frustration at the stagnation in real-terms pay growth at a time of rising inflation. ...
Bank of England staff to go on strike image
Source : BBC [Read Article] Monday 3rd of July 2017 12:28:05 PM
....The move follows a ballot which produced a 95% vote for strike action. The union said its members were angry that, for the second year in a row, they had been offered a pay rise that was below the rate of inflation. ...
Skills shortage costs British businesses £2bn a year, survey finds image
.... The average increase was £4,150 per hire for small and medium-sized firms and £5,575 per hire for larger organisations. While the firms surveyed highlighted higher starting salaries for new hires, official figures have shown average wage growth in Britain has slowed and fallen behind inflation, meaning many workers are worse off in real terms. ...
Horror stories told by central bankers will not end in an interest rate shock image
....And a look at the economic data shows there is a more mixed picture than the bald GDP numbers would have investors believe. As one leading economic consultancy said, as the stock- and bond-market gyrations eased, rising inflation and sluggish wage growth, among other things, means that UK growth is expected to deteriorate this year. ...
Savers warning: Pension tax relief could soon be SLASHED image
Source : Daily Express [Read Article] Saturday 1st of July 2017 02:05:00 PM
.... But another avenue for savings is reforming the tax relief system. Former pension minister and director of policy at Royal London Steve Webb said: "Retaining the triple lock is likely to be relatively cheap, now that inflation has risen above the 2. ...
Forget austerity, here’s who is to blame for your empty pockets | Patrick Collinson image
.... It looked at bills for gas, electricity, water, TV, phone and so on – and found they have escalated in price far, far ahead of average wage rises. Since 2006, average pay packets in Britain have gone up by 19% in pounds and pence terms (in other words, not adjusting for inflation). ...
Household income falling at fastest rate since 1976 as UK savings rates crash image
....The consumer-driven momentum that has kept the British economy afloat since the Brexit vote is declining rapidly, with new data showing households in the grip of the most protracted squeeze on living standards since the economic crisis of the mid-1970s. Against a backdrop of rising prices and stagnant wage growth, incomes adjusted for inflation have now fallen for three successive quarters, the first time this has occurred since the International Monetary Fund had to bail Britain out in 1976. ...
Prepare for interest rates rise: Inflation could mean hike, says Bank of England economist image
....The top economist appears to preparing households for a rate rise, which increases borrowing costs but also means better returns on savings. Higher interest rates helps to keep inflation from rising drastically, which squeezes family budgets when wage growth is not keeping pace. ...

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