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World Business Report

is ticking upwards again? there was an expectation that the december rating would be higher than novemberfor the december rating would be higher than november for the headline december rating would be higher than novemberfor the headline rate and it is really more of a technicality because of the base effect of the measures so we had the removal of some of the energy release schemes coming out of that number so that is why you saw the headline number increase. if you look at core inflation that actually did come down so that is the bit that really matters for most people, the basket of goods we spend on everyday and it came down from 3:63.4. but you're right, the current sentiment towards the headline number is still fairly jittery. the markets are focused on whether 2024 will be the year when inflation comes under control in the eurozone and other developed markets. the uk car industry is calling on the government to cut vat on electric cars after new data shows that their share of sales didn't change at all last year. while car sales overall

Expectation , December-rating , Energy-release-schemes , Some , Ticking , Headline-rate , Technicality , Base-effect , Measures , Removal , Novemberfor , Headline-december-rating

World Business Report

increase won't come. let's not forget that yesterday we heard that average uk wages were rising at their fastest pace in 20 years. joining me now is neil shearing — group chief economist at capital economics. thanks very much for being with us today. clearly it is pretty good news, but is it happening fast enough, oras news, but is it happening fast enough, or as fast as we had hoped? the fall in the headline rate of inflation, as you say, that's going to be welcomed by the bank of england. it takes a bit of pressure off them. but when you start to dig into the details of this report, i think perhaps there is still some uncomfortable reading there for the policymakers of the bank. as you mentioned, a lot of the fall in the headline rate, that is driven by what has happened to food and energy prices and that is out of the bank's control. interest rates don't tend to affect the price of our energy or

Increase , Wages , Chief-economist , Capital-economics , Average-uk , 20 , Headline-rate , Oras-news , Thanks , Fast , Us , Bank-of-england

World Business Report

the banks will be looking notjust that where interest rates are now but where they will be over the entire term of the deal and i think there is a hope, at least, that�s with a peak in bank of england interest rates, depending on where interest rates, depending on where interest finally settles. so it is notjust interest finally settles. so it is not just where interest interest finally settles. so it is notjust where interest rates are now but where they will be going forwards and if there is a chance of a peek at some stage in the next 12 months then after a peak you�ll get some cuts. maybe the banks are looking towards that and also there is competition between them which is a good thing for consumers. what impact do you think this might have on the bank too? are they more likely to pause rate rises now to see how this plays out for a few months at least? we would like to think so. that will come down to inflation. at 7.9%, the last reading is still four times the bank of england�*s 2% target. the good news is, that headline rate is down from a peak of ii.i%. the bad news is that call rate of inflation that strips out to more volatile

Interest-rates , Deal , Term , Banks , Peak , Notjust , Bank-of-england , Hope , Competition , Interest , Chance , Cuts

Verified Live

ruthless in its rate cutting. why do you think it may not do that? you are riaht, you think it may not do that? you are right. the _ you think it may not do that? mm are right, the headline rate of inflation has come down to 3.2% in the latest meeting in mid—july. this is quite close to the midpoint target the central bank is looking at, 3%. however, core inflation is still higher, so what you see is headline inflation has come down because of false in food prices, fuel prices this year, but core prices are still high. they are still running over 5%, so what we are seeing in brazil, the services sector, the labour market, it is still being quite resilient this year. central banks are looking ahead, so they are looking at inflation expectations. they are trying to guide expectations through inflation over the next 12 months. and in brazil inflation expectations are still running above the 3% target for next year. and they are running just under li%, however this

Inflation , Headline-rate , Rate-cutting , Meeting , Mid-july , Riaht , 3-2 , Target , Core , Central-bank , Prices , Headline-inflation

BBC News at Six

of those expectations back again. they think the next interest rate rise due next month will be a quarter of a point rather than half a percent. there are reasons for that, because all the measures of inflation, whether it is the headline rate, whether it is the raw materials rate or the underlying rate, they are now all pointing in the right direction. but this is not the right direction. but this is not the sort of number that will be felt in household or food the sort of number that will be felt in household orfood banks like in that report, these inflation numbers are still very high. we are not out of the inflationary woods, if you like, but we can now see a pass opening out of this. and you can get more information on today's inflation figures and what they mean for you on the tackling it together pages of the bbc news website or on the bbc news app. the prime minister has apologised for the treatment of lgbt veterans after they were sacked or forced out of the military for being gay. it was illegal to be gay in the british military until 2000, with thousands of veterans thought

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The Daily Global

to rise, but more slowly. that's partly down to cheaper fuel and energy bills. food prices have slowed a little, but they're still sky high. inflation was 7.9% injune, down from 8.7% in may — a bigger drop than expected. we'll find out what it means for interest rates in a moment, and what the bank of england may do. but first, here's our economics editor faisal islam. yeah, do you want some of the mixture? we all know that everybody is having a hard time at the moment, but it is hitting the markets quite drastically. the customers have been quite loyal, but i think people are maybe choosing what they buy a little more carefully. they're looking at the weight - of the packaging, they're looking at what they get for the money. most measures of inflation are now heading in the right direction. but as you can see, at this southampton market, it's still happening slowly. the prices are rising, so we have to consider our margin, whether we hold our breath and keep the prices low and hope we get a better turnover, or put the prices up in line with inflation. the headline rate was lower

Inflation , Rise , Food-prices , Energy , Bank-of-england , Interest-rates , Bills , Fuel , Little , Drop , Injune , Sky-high

BBC News

programme. what is your reaction to these numbers?— programme. what is your reaction to these numbers? as people have said it came down. _ these numbers? as people have said it came down. it _ these numbers? as people have said it came down, it is _ these numbers? as people have said it came down, it is still— these numbers? as people have said it came down, it is still high, - these numbers? as people have said it came down, it is still high, down . it came down, it is still high, down by more than expected but it depends whether you are glass half—full glass half empty person, it is good that it glass half empty person, it is good thatitis glass half empty person, it is good that it is coming down but even the headline rate is still prices going up headline rate is still prices going up less quickly, people should not expect to see falling prices. petrol prices are down but food is up 18% on last year and going back to two years ago when inflation started to pick up, overall prices are up by 20% and some things like food even more so it is not perfect yet. we alwa s more so it is not perfect yet. we always try _ more so it is not perfect yet. we always try and reinforce that just always try and reinforce thatjust because the rate is coming down does not mean prices are, that is still increasing. let's look at what can be done, levers pulled to try to

People , Numbers , Person , Reaction , Prices , Food , Headline-rate , Petrol-prices , 18 , Inflation , Things , We-alwa

BBC News at Six

inflation was 7.9% injune, down from 8.7% in may, a bigger drop than expected. we'll find out what it means for interest rates in a moment and what the bank of england may do. but first here's our economics editor, faisal islam. yeah, do you want some of the mixture? we all know that everybody is having a hard time at the moment, but it is hitting the markets quite drastically. the customers have been quite loyal, but i think people are maybe choosing what they buy a little more carefully. they're looking at the weight - of the packaging, they're looking at what they get for the money. most measures of inflation are now heading in the right direction. but as you can see, at this southampton market, it's still happening slowly. the prices are rising, so we have to consider our margin, whether we hold our breath and keep the prices low and hope we get a better turnover, or put the prices up in line with inflation. the headline rate was lower than expected injune at 7.9%, thanks to falling petrol prices.

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Newsnight

that here in uk one of the five biggest economies in the world, some people are struggling to buy enough food to feed themselves. new figures from the trussell trust seen by newsnight show the nature and scale of food insecurity across the uk. 11 million people, 14% of all uk adults or their households have experienced it in the year up to last summer. today bosses at four of the big supermarkets denied making too much money from soaring prices telling mps the industry is the most competitive it has ever been. food inflation on things like bread, cereal, chocolate has come down slightly although it remains very high at 18.3%. doubled the headline rate. tonight we have details coming of an intervention from the chancellor tomorrow to try to tackle the problem. nick will explain in a few minutes. first ben has been to

Trussell-trust , People , Food , One , World , Scale , Uk , Economies , Figures , Newsnight-show-the-nature , Five , It

Dateline

he has written to the chancellor saying that there should be action for him in a regulation to make sure that savers benefits from the change in interest rates. i >> recognize the concern is just the chancellor himself has recognized that this is something to be monitored carefully. he met with the banks on friday the primary focus was dealing with the implications of -- several positive things came out of that, we took the opportunity to -- to have conversations with your lender and not prejudice your credit rating as well as delaying reposition from the first payment that was a constructive conversation will continue to look at the gap between the interest on saving and the headline rate. >> let's talk about something that is in your personal -- you mentioned already public sector pay, if you want to keep

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