50 h. ago Could Trump’s tariffs give a green light for corporate profiteering?

Expectations of inflation, and recent waves of price rises, could be self-fulfilling and fuel ‘greedflation’ – and it may not only apply to US consumersOver the past few years consumers have grown used to seeing prices rise at an exorbitant rate. The cost of everything – from used cars to utility bills and the humble loaf of bread – has rocketed in the worst inflation shock across advanced economies since the 1980s.While inflation has cooled in the past year, talk of fast-rising prices is back on the agenda from Donald Trump’s escalating trade war. Continue reading...

Politics

3 d. ago Chocolate prices up nearly 50 per cent in three years as ‘Chocflation’ persists

Chocolate prices are going up year on year making Easter a more expensive time

Politics

3 d. ago Trump live: Gold prices begin to slip after hitting record highs due to tariff inflation fears

The Trump administration has also hit out at a Democratic senator trying to return Kilmar Abrego Garcia to the U.S

Economics

4 d. ago Inflation: Which prices caused the rate to drop – and which have gone up?

Petrol and diesel both saw price cuts picking up pace last month

Economics

4 d. ago The household items that went up and down in price in March as inflation eased

Full list of inflation changes last month, including food, computers and cars

Economics

5 d. ago Asian shares sell off as US curbs on Nvidia chip sales to China fuel trade fears; UK inflation slows to 2.6% – business live

Gold surges nearly 2% to new record high; UK food inflation slows and fuel prices fall while clothes prices riseFinancial markets are betting on an interest rate cut from the Bank of England meeting at its May meeting, estimating an 86% probability.They have fully priced in three quarter-point rate reductions this year.A sharp pickup in inflation from April is all but guaranteed. Ofgem’s 6.4% increase to its price cap, after a large fall last year, means we expect the energy component will add 0.7ppts to CPI inflation in April. A significant increase in water bills means the contribution from the core goods category is also set to rise. In addition, we expect businesses to pass on some of the increase in labour costs caused by the recent rises in employers’ National Insurance Contributions (NICs) and the National Living Wage onto consumers. Inflation is likely to peak in the autumn, before starting to cool as the contribution from the energy category fades.The MPC has lowered Bank R...

Economics

5 d. ago Inflation falls to just 2.6% as cost of filling up the car drops on lower oil price

The main reasons for the fall included lower fuel prices and softer hotel rates

Economics

9 d. ago US wholesale inflation fell last month as price pressures eased, but trade war clouds outlook

The Labor Department is reporting that its producer price index — which tracks inflation before it hits consumers — was fell 0.4% from February

Economics

1 week ago US egg prices break record high for third consecutive month even as inflation drops

The 12-month inflation rate at 2.4%, down from 2.8% in February, was largely fueled by a sharp fall in gas pricesThe price of eggs continues to soar for American consumers, rising by almost 6% in March even as overall inflation fell slightly.Breaking a record high for the third consecutive month, the average cost of a dozen large eggs hit $6.23 in March – more than double the price just 12-months earlier, according to new figures released by the Bureau of Labor Statistics on Thursday. This surpassed the previous record highs of $5.90 a dozen in February, and $4.95 in January. Continue reading...

Economics

1 week ago The £2 American supermarket tote that's reselling for £1,000 in the UK

The American grocery chain brought its mini tote bags back this month after they sold out last year, sparking another frenzy of reselling at inflated prices.

Economics

1 week ago Inflation fell last month as gas prices dropped sharply, a sign prices cooling before tariffs

U.S. inflation declined last month as the cost of gas fell, a sign that price growth was cooling even as President Donald Trump ramped up his tariff threats

Economics

1 week ago I’ve seen many phoney trade wars come and go. This is the real thing | Larry Elliott

This battle between the US and China goes far beyond market turmoil – it has killed off the liberal dream of a borderless world Donald Trump’s decision to impose a 104% tariff on Chinese imports into the US – and China blasting back with 84% – has spooked the financial markets. The response is entirely rational. Over the past few decades, phoney trade wars have been commonplace. Rival nations have squared off against each other, indulged in a bit of sabre-rattling, but eventually agreed on a deal. Headlines that screamed “trade war looms” were quickly replaced by those that read “trade war averted”. This time it’s different. The battle between the US and China prompted by Trump’s tariffs is no pretend trade war. It is the real deal – and it will have real consequences. Tariffs operate as a tax, adding to the costs of doing business and raising prices for consumers. Growth will slow and inflation rates will rise. The global economy was already growing only slowly. As things stand, it...

Events

1 week ago Albanese vs Dutton: Who won the first Australian election debate?

The two rivals traded bards over cost of living issues, inflation, Trump tariffs and energy prices

Politics

1 week ago Italy fines seven firms £17m for price fixing of tickets for Rome’s Colosseum

Ticketing company and six tour operators fined for using software bots to hoard tickets for sale at inflated pricesAn Italian ticketing company and six tour operators have been fined almost €20m (£17m) over illegal practices that made it difficult for regular visitors to access Rome’s Colosseum at the standard cost, including using software bots to hoard tickets and sell them at higher prices.Italy’s antitrust authority, AGCM, said the hoarding practice made it “essentially impossible” to buy tickets for the Roman amphitheatre online. Continue reading...

Economics

1 week ago Main ticket seller and six tour companies fined £17m for Colosseum price

Illegal practices included use of bots to hoard tickets for attraction in Rome for resale at inflated pricesAn Italian ticketing company and six tour operators have been fined almost €20m (£17m) for illegal practices that made it difficult for regular visitors to access Rome’s Colosseum at the standard cost.Italy’s antitrust authority, AGCM, said the practices, including using software bots to hoard tickets and resell them at higher prices, made it “essentially impossible” to buy tickets online for site. Continue reading...

Economics

2 w. ago Lamb inflation soars with supermarket price of joints rising by up to 50% ahead of Easter as sheep meat production falls and demand increases

Heightened consumer demand and a supply crunch are contributing to inflation for lamb after UK sheep meat production declined, with supermarket prices up by nearly 50 per cent in some cases.

Economics

2 w. ago Grocery price inflation edges up as food cost concerns rise among consumers

Supermarket prices are now 3.5% higher than a year ago, up from 3.3% in February, according to analysts Kantar.

Economics

2 w. ago UK firms braced for Trump's tariffs as house price growth remains stable and food inflation rises again

Watch today’s top business stories in under two minutes.

Economics

3 w. ago Rachel Reeves defends benefit cuts and denies further tax rises likely in autumn – UK politics live

Chancellor confirmed welfare cuts of £4.8bn in spring statement, but insisted the priority was to restore stability to the public finances Nick Robinson is interviewing Rachel Reeves on the Today programme now.Q: You promised just one budget a year, but yesterday you had to announce drastic cuts. What’s gone wrong?We’re not at the moment at a position where we want to do anything to escalate these trade wars.Trade wars are no good for anyone. It will end up with higher prices for consumers, pushing up inflation after we’ve worked so hard to get a grip of inflation, and at the same time will make it harder for British companies to export. Continue reading...

Politics

3 w. ago Odds of Bank of England interest rate cut strengthen after inflation falls to 2.8%

Bigger-than-forecast decline in annual rate in February is positive news for Rachel ReevesBusiness live – latest updatesThe odds of the Bank of England cutting interest rates in May have been strengthened after inflation cooled by more than forecast last month.In a boost for Rachel Reeves on the day of the chancellor’s spring statement, the Office for National Statistics said inflation as measured by the consumer prices index eased to 2.8% in February from 3% in January. Continue reading...

Economics