TagUK inflation

Interest rates may rise dramatically if UK inflation stops falling

By Marta Lopez
In Business
4 Min Read
I

That’s right. UK inflation unexpectedly stayed at 8.7% in May, defying forecasts for a slowdown to 8.4%. This is bad news for UK Prime Minister Rishi Sunak, who has promised to halve inflation this year, and economically for millions of people across Britain struggling with a cost-of-living crisis. There is an expectation that the Bank of England will raise interest rates by 0.25 percentage...

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Energy prices could push UK inflation to 22%, a near post-war record

By Marta Lopez
In Business
3 Min Read
E

Inflation in the UK could top 22% next year, close to the post-war record set in 1975, if wholesale energy prices remain at current high levels, Goldman Sachs has warned. Highlighting the pressure on households and businesses, the US investment bank said inflation could peak at 22.4% next year if wholesale gas and electricity prices continue to spiral over the winter. In a scenario where prices...

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