Search results
Results From The WOW.Com Content Network
UK inflation unexpectedly dipped in December, raising expectations of an interest rate cut next month. Prices rose 2.5% in the year to December, down from 2.6% the month before, marking the first ...
It said stubbornly high inflation in the crucial services sector, which accounts for around 80% of the U.K. economy, and an increase in fuel prices was largely behind the overall increase.
Earlier this month, the bank decreased its main interest rate by a quarter of a percentage point to 4.75% — the second in three months — after inflation fell to its lowest level since April 2021.
Early government responses to rising inflation included a 6.6% rise in the minimum wage, which was announced in 2021, and came into effect in April 2022. The UK government intensified its efforts to respond to the cost-of-living crisis in May 2022, with a £5 billion windfall tax on energy companies to help fund a £15 billion support package ...
The Office for National Statistics said that inflation dropped to 3.9% in the year to November, its lowest level since September 2021, from 4.6% the previous month. That decline was bigger than ...
UK food and drink prices rose by 19.2% in the year to March 2023, a 45-year high. [208] [209] On 3 August the BoE raised the interest rate to 5.25%, the highest since 2008. [210] The UK entered a technical recession in the final six months of 2023. [211] [212] Germany's inflation rate reached 11.7% in October 2022, the highest level since 1951 ...
The UK inflation rate has gone up for the second month in a row, with prices rising at their fastest pace since March. Inflation hit 2.6% in the year to November, according to official figures.
Inheritance tax thresholds, pensions life time allowances and annual capital gains tax exemptions to be frozen at 2020–2021 levels until 2025–26; It is expected that the measures will cause borrowing to fall to 4.5% of GDP in 2022–23, 3.5% in 2023–24, 2.9% in 2024–2025, and 2.8% in 2025–2026.