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People with savings. 4.25% is where we are now — from an historically low level ofjust 0.1% back in december 2021. it's thought they'll go even higher this lunchtime — likely to 4.5%. that's because the rate at which prices are rising, known as inflation, remained stubbornly high. way above the bank of england's target of 2%. putting interest rates up is meant to discourage us from spending — which in turn should bring down prices. but that hasn't happened as quickly as many hoped. what is concerning bank of england is that inflation is becoming embedded in everyday things like what we p...

Widely expected to rise from 4.25 up to 4.5%. that is your business. you are watching bbc news. let's look at some other stories the uk. a major incident has been declared in somerset following flash flooding, after heavy rain. houses have been evacuated in north cadbury, queen camel and surrounding villages — with some areas also hit by mudslides. the environment agency has warned that furtherflooding is possible. 0ur west of england correspondent danjohnson has been speaking to some of those affected. this is what hit villages across devon and somerset yesterday evening, rivers and streams...

To my home, the bronx. - right, right. 'cause what is it exactly, what you want to give back to the bx? - my passion is housing. - mm. - so i, you know, spent almost all my life in the bronx in poverty. i was raised by a single mother who had to raise three of us on minimum wage, which in the 1990s was about $4.25 an hour. so i grew up in conditions of mold and mildew, leaks and lead without consistent heat and hot water in the winter, and the mission of my life is to improve the living conditions in public housing. - now, you ran an unconventional campaign. - i was an openly gay candidate run...

- people like me don't normally make it to congress. i'm just enormously grateful to give back to my home, the bronx. - right, right. 'cause what is it exactly, what you want to give back to the bx? - my passion is housing. - mm. - so i, you know, spent almost all my life in the bronx in poverty. i was raised by a single mother who had to raise three of us on minimum wage, which in the 1990s was about $4.25 an hour. so i grew up in conditions of mold and mildew, leaks and lead without consistent heat and hot water in the winter, and the mission of my life is to improve the living conditions in...

Year, and we are expecting the overall rate of inflation to fall overall rate of inflation to fall over the course of 2023 to around 4.5%, and so inflation is expected to fall, but will remain well above the 2% target, so the cost of living crisis will continue for a while yet even there we are expecting an improvement. ii even there we are expecting an improvement-— even there we are expecting an imrovement. :, , :, :, :_ improvement. if what you are saying is that price — improvement. if what you are saying is that price pressures _ improvement. if what you are saying is that price press...