3 min read Last Updated : Jul 22 2024 | 12:03 AM IST By Jennifer Creery The UK risks a return to strikes and a shortage of nurses and teachers if it doesn’t grant above-inflation pay rises, Chancellor of the Exchequer Rachel Reeves said, following reports of a fiscal hole as large as...
Tag: inflation
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Starting pay for UK jobs up 6.5% on year in May, job ads show – ETHRWorldME
Uncertainty about whether pay growth is slowing materially remains a key factor behind the BoE’s reluctance to cut interest rates from the current 16-year high LONDON: Average starting pay for British jobs rose in May at the fastest pace in four months despite a 20% annual fall in the number of jobs on offer, figures...
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Broken Britain: How the wage squeeze left us being treated as a developing country
“It seems that the recent increase in wages is a cyclical phenomenon driven by labour shortages as a result of Brexit, people dropping out of the workforce following the pandemic and a rebound in growth,” says the economist Julian Jessop. “We will not get a structural, long-term increase in wages until there is sustained productivity...
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UK shop price inflation falls
image: @sergeyryzhov | iStock Shop price inflation in the UK has reduced to its lowest level since November 2021, driven by significant price cuts on big-ticket items like furniture and TVs This comes as households continue to tighten their spending with the ongoing cost of living pressures and poor weather conditions. Deflation in the UK...
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Election must focus on getting UK economy firing, say business leaders
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UK inflation falls to 2.3%, lowest in 3 years but still above BoE’s target
3 min read Last Updated : May 22 2024 | 5:49 PM IST Inflation in the UK fell sharply to its lowest level in nearly three years in April on the back of big declines in domestic bills, official figures showed on Wednesday. The Office for National Statistics said inflation, as measured by...
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UK inflation drops less than expected, dashing June rate cut hopes
3 min read Last Updated : May 22 2024 | 2:33 PM IST Inflation in Britain fell by less than expected in April and a key core measure barely dropped, prompting investors to pull bets on a rate cut next month which could have boosted embattled Prime Minister Rishi Sunak before an election this...
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Friday evening news briefing: Labour would make Britain ‘asylum capital of the world’
Good evening. James Cleverly has claimed a Labour government would turn the UK into the “asylum capital of the world” – and an official has admitted that the Bank of England made “persistent and systematic” errors in its forecasts about inflation. Plus: Meet the hosts of our new podcast, The Daily T. Labour would make...
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How cost-of-living crisis has changed Britain’s shopping habits: Covid hand sanitisers and Guinness are pulled from ONS inflation tracker – while vinyl, air fryers, gluten-free bread and women’s socks are added to list
The Office for National Statistics removing some items from its ‘basket’ of goods By Rory Tingle Home Affairs Correspondent Published: 09:30 BST, 11 March 2024 | Updated: 19:49 BST, 11 March 2024 Covid hand sanitisers and Guinness have been pulled from the inflation tracker in the first sign of how the cost of living crisis...