The UK Consumer Price Index (CPI) rose 9.1% year-on-year in May, meeting market expectations and exceeding 9% in April. This is the highest inflation rate recorded since the series began for National Statistic in January 1997. Prior to this series, the data would be the highest seen since 1982. The monthly CPI stood at 0.7%, […]
Tag: United Kingdom
UK: CBI Survey Shows Sharp Drop in Manufacturers’ Price Expectations
The results of the latest survey of trends in the manufacturing sector carried out by the Confederation of British Industry (CBI) pointed to an unexpected easing of price pressures. In the survey, the Domestic Price Expectations sub-index in June it fell to its lowest level since September to 58 from May’s reading of 75. Commenting […]
The United Kingdom is approaching double-digit inflation
Inflation in the UK is likely to hit a four-decade high of more than 9% in May, underscoring the challenge for the Bank of England as it threatens faster interest rate hikes in response. A week after the US consumer price spike triggered a 75 basis point increase by the US Federal Reserve amid spasms […]
B. Johnson: London must continue to support Ukraine
It is important that Britain continues to show its support for Ukraine for a long time, Prime Minister Boris Johnson said today, warning of the danger of “fatigue for Ukraine” as the war does not seem to end. “The Russians are moving slowly and it is vital for us to show what we know to […]
The Bank of England and the British Ministry of Foreign Affairs will intensify the fight against inflation
Britain’s policymakers are toughening their stance on inflation as they prepare to deliver a tough dose of “medicine” at a time when the cost-of-living crisis is hurting growth and consumers, according to Bloomberg. The government of Prime Minister Boris Johnson, together with the Bank of England, this week signaled their readiness to raise interest rates […]
Slight rise in the quarter for unemployment in the UK
Unemployment in the UK rose slightly in the quarter to April, while employment continued to rise in May, suggesting that the slowdown in economic activity has not hit the labor market. Unemployment stood at 3.8% in the quarter from 3.7% three months ago, according to the ONS statistics service. The number of employees increased by […]
Bloomberg: UK actually faces recession as living costs rise sharply
The history books may not judge it as such, but the United Kingdom is slipping into a recession in everything but the … name in 2022, according to Bloomberg. While the statistical peculiarities, including the presence of an additional banking holiday for the Queen’s Diamond Jubilee, mean that the nation can avoid two consecutive quarters […]
S&P 500: Good mood at the beginning of the week drives gains greater than 1%
Stock markets rise in Europe and in the US prior. No impact data on Monday; Boris Johnson submitted to a vote of internal censure. Disparate metals: silver up 2%, gold flat. Wall Street futures are rising on Monday. The main indices remain within the ranges of last week, validating the rebound, but unable to extend […]
UK: Conservative Penrose resigns with the intention of voting against Prime Minister Johnson
Conservative lawmaker and UK “anti-corruption champion” John Penrose announced on Monday that he has resigned from his post, Reuter reported.yes “I am sorry to have to resign as the Prime Minister’s anti-corruption czar but, after his response last week on the Ministerial Code, it is quite clear that he has breached it.“he declared on Twitter. […]
Britain: Inflation expectations remained stable in May
Expectations for British inflation have remained stable this month, but at high levels that are likely to keep the Bank of England alert to the risks of rising prices, according to a survey released today. The US bank Citi and the polling company YouGov, announced that their index of inflation expectations for five to 10 […]