The United Kingdom’s overall inflation rate fell to 2% year-on-year in May, hitting the Bank of England’s target for the first time since July 2021, just ahead of the bank’s June meeting. ADVERTISEMENT This marks the lowest annual change in the consumer price index since July 2021, aligning with analysts’ forecasts. On a monthly basis,...
Tag: inflation
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British Pound Subdued On Rising UK Unemployment
Last Updated : Jun 11 2024 | 4:04 PM IST The British pound is staying subdued against the dollar on Tuesday after labor data showed number of people in work in the United Kingdom dropped by 140 thousand in the three months to April 2024, easing from a 177 thousand decline in the prior period...
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UK shop price inflation eases to lowest level in more than two years
The UK’s annual inflation rate dropped to 0.6% in May. Credit: William Barton via Shutterstock. Shop price inflation in the UK has fallen to its lowest level since November 2021, according to data from the British Retail Consortium (BRC) and NielsenIQ. The country’s annual inflation rate dropped to 0.6% this month (May), down from 0.8%...
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RISHI SUNAK: This election is about who you TRUST to deliver for our United Kingdom
When I became Prime Minister, my most immediate task was to restore our economic stability. Inflation was in double digits and our country had been rocked by Covid and Putin’s invasion of Ukraine, which sent energy prices soaring. This week, inflation is back to normal, energy bills are falling, and our economy is growing faster...
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U.K. Prime Minister Rishi Sunak sets July 4 election date as his Conservative party faces cratering support
British Prime Minister Rishi Sunak on Wednesday set July 4 as the date for a national election that will determine who governs the U.K., choosing a day of good economic news to urge voters to give his governing Conservatives another chance. “Now is the moment for Britain to choose its future,” Sunak said. Sunak’s center-right...
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Pound Sterling clings to gains ahead of UK employment, US inflation data
The Pound Sterling holds gains above 1.2500 inspired by strong UK Q1 GDP data. The UK economy expanded by 0.6%, moving out of the recession seen in the second half of 2023. Investors await UK employment and US inflation data for fresh guidance. The Pound Sterling (GBP) exhibits strength above the psychological support of 1.2500...