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Grant Fitzner - 1 ” - 1 Yael Selfin - 1 Paul Dales - 1 Selfin - 1 “ - 1 Kitty Ussher - 1 … - 1
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London CNN — - 1 National Statistics - 1 Bank of England - 1 ONS - 1 “ - 1 KPMG - 1 Capital Economics - 1 ” - 1

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☆ UK inflation slows to lowest level in more than a year
  + stars: | 2023-07-19 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +2 min
London CNN —UK inflation eased more than expected in June, slowing to its lowest annual rate since March 2022, official data showed Wednesday. Consumer prices rose 7.9% last month compared with a year ago, down from 8.7% in May, the Office for National Statistics said. “Inflation slowed substantially … driven by drops for motor fuels,” ONS chief economist Grant Fitzner said in a statement. “While the Bank of England will welcome the fall in inflation, it is unlikely to substantially change its hawkish policy stance,” said KPMG chief economist Yael Selfin. “The main story today is that inflation is lower than expected, fueling a narrative that we are through the worst,” said Kitty Ussher, chief economist at the Institute of Directors.
Persons: Grant Fitzner, ”, Yael Selfin, Paul Dales, Selfin, “, Kitty Ussher, … Organizations: London CNN —, National Statistics, Reuters, Bank of England, ONS, “, KPMG, Capital Economics, ”, Institute of Directors
☆ UK retailers report record food inflation but see falls ahead
  + stars: | 2023-05-01 | by ( David Milliken | ) www.reuters.com   time to read: +2 min
Overall inflation among BRC members dropped to 8.8% from March's 8.9% as price increases for non-food items slowed due to heavy discounting of clothing, footwear and furniture. Costlier coffee beans and more expensive packaging and production of ready-meals pushed up food inflation, but prices of butter and vegetable oil were starting to decline. "We should start to see food prices come down in the coming months as the cut to wholesale prices and other cost pressures filter through," BRC chief executive Helen Dickinson said. Britain's official measure of consumer price inflation peaked last October at 11.1%, its highest in more than 40 years. The Office for National Statistics' measure of food price inflation - which is calculated differently to the BRC's - was the highest since 1977 in March at an annual 19.1%, reflecting higher costs for biscuits, cakes and confectionery.
☆ Why the UK spring budget won't fix the economy's problems
  + stars: | 2023-03-15 | by ( Hanna Ziady | ) edition.cnn.com   time to read: +7 min
London CNN —The last time a British finance minister unveiled a “budget for growth,” UK financial markets crashed and mortgage rates shot up, threatening to tip an already weak economy into a deep recession. But he will deliver his budget against essentially the same gloomy backdrop: the UK economy is stuck in the doldrums. John Springford, deputy director at the Centre for European Reform, estimates that Brexit had cost the UK economy 5.5% of GDP by June 2022. SVB could depress UK bank lendingAnother factor that could weigh on the UK economy in the near term: Silicon Valley Bank. “It is likely that UK financial conditions will remain tighter (or potentially significantly tighter) over coming months than they would have been without the US banking troubles,” Pickering said in a research note Monday.
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