Spending on household essentials has dropped rapidly in five years as waning consumer confidence impacts purchasing behaviour.
Spending on household essentials has dropped rapidly in five years as waning consumer confidence impacts purchasing behaviour.
Andrew Bailey has declined to apologize following an independent review that highlighted “significant shortcomings” in the Bank of England’s inflation forecasts.
UK financial markets anticipate the Bank of England’s initial interest rate reduction to occur in September instead of August, with a forecast of only two decreases this year.
In the first time in ten years, families are reverting to cash to navigate the rising living costs, leaning on notes and coins for budgeting.
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The week ahead: Burberry, Ocado, WH Smith, Boohoo, BHP, Antofagasta, UK inflation on the diary
MPs have been told by the Treasury’s economic secretary that the government is looking at introducing a digital pound.
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After a brief respite, oil fell to a six-month low on Wednesday. This was after concerns over a possible global recession that could weaken demand outweighed a report showing lower
Official figures revealed Wednesday that the British consumer price inflation rose to 10.1% in July. This is its highest level since February 1982. It was 9.4% in June.
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The UK’s unemployment rate was at its lowest level in 48 years during the first three months of 2022. Employers paid higher bonuses to retain or recruit staff, according to