38 h. ago Voices: Who’s to blame for food price hikes – supermarkets or Rachel Reeves?

The retail giants point the finger at the chancellor’s business tax rises as food inflation jumps to 4.4 per cent – so are they right, and will mortgages and petrol pump prices be next, asks James Moore

Economics

40 h. ago UK transport secretary calls HS2 an ‘appalling mess’ as she confirms delay

Heidi Alexander vows to ‘sort out’ HS2 project; UK inflation dips to 3.4% as transport costs ease while food prices jumpUK inflation eases to 3.4% amid falling fuel and air fare pricesInflation pressures remain sticky in the UK, according to Rob Wood, chief UK economist at Pantheon Macroeconomics.Looking ahead, we continue to expect CPI inflation to average 3.4% for the rest of the year as strong wage growth, minimum wage hikes and tax increases pass through to retail prices. We think headline inflation will struggle to dip below 3% before April 2026. By that point, inflation will have been above target almost continuously for five years, risking further deanchoring of inflation expectations and persistent wage pressure.Granted, US president Trump’s trade war could lead to some diversion of Chinese exports previously bound to the US, which could cut UK inflation. But war in the Middle-East has boosted oil and natural gas prices, adding 10bp to our forecast inflation peak and risks p...

Politics

41 h. ago Examples of where inflation jumped in May – and where it eased

Inflation has accelerated sharply for computer software, up from 8.2% in April to 16.3% in May.

Economics

69 h. ago Fuel tanker rates surge as Middle East crisis worries markets – business live

Rolling coverage of the latest economic and financial newsTrump says UK is protected from tariffs ‘because I like them’ as trade deal is signed offIran and Israel crisis: what does it mean for the price of oil?Over in Tokyo, Japan’s central bank chief has warned that the jump in the oil price, if maintained, could push up inflation.Speaking after the BoJ left interest rates on hold today, governor Kazuo Ueda told reporters:“Coupled with already rising food prices, such moves in oil prices caused by tensions in Iran and Israel, if persist, could risk affecting inflation expectations and underlying inflation. So we must scrutinise developments carefully.”“Even if developments surrounding U.S. trade policy stabilise toward a certain direction, there’s very high uncertainty on how that could affect the economy .For the time being, there is extremely high uncertainty over each country’s trade policy. As such, there is bigger downside risk for both Japan’s economy and prices.” Continue re...

Events

4 w. ago Experts reveal how you can protect your money from inflation after 'Awful April'

Inflation is back on the rise, with a shock jump arriving today. Financial experts gave us their top tips on what you can do to protect your wealth and income.

Economics

4 w. ago Why has inflation jumped higher and what does it mean for households?

Official figures showed inflation hit 3.5% in April, up from 2.6% in March and the highest since January 2024.

Economics

4 w. ago Examples of where inflation jumped in April – and where it eased

Gas and electricity both swung from negative annual inflation in March to positive annual inflation in April.

Economics

4 w. ago Inflation jumps to 3.5% deepening cost of living crisis for millions of Londoners

Worse-than-expected rise driven by ‘awful April’ bills hike takes inflation to highest level since January 2024

Economics

4 w. ago Pressure mounts on Chancellor as inflation races to highest for more than a year

Official figures show Consumer Prices Index inflation jumped to 3.5% in April, up from 2.6% in March.

Economics

4 w. ago UK inflation jumps to 3.5% driven by 'awful April' bill hikes in blow to Rachel Reeves

Worse-than-expected rise takes inflation to its highest level since January 2024 worsening the cost-of-living crisis

Economics

4 w. ago UK inflation jumps to 3.5% driven by 'awful April' bill hikes

Worse-than-expected rise takes inflation to its highest level since January 2024

Economics

4 w. ago UK inflation jumps higher than expected to 3.5% amid bills increase

Annual rise in April follows upturn in national insurance contributions and higher household costsInflation jumped in April by more than expected to 3.5% after dramatic increases in water bills, energy costs and council tax, according to official figures.A rise in employer national insurance contributions and a boost to the national minimum wage also put pressure on companies to raise prices last month by more than City analysts had forecast. Continue reading...

Economics