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Transcripts For BBCNEWS World Business Report 20240707



we start today with the problem staring at us every time we go to the shops and look at our bank balance: the cost of living crisis. today we ll get the latest estimate of inflation here in the uk for the month of may. we ll go back to april to set the scene: inflation that month was running at 9%, the highest rate here in the uk for a0 years. looking into the future, the bank of england has warned inflation might exceed 11% later this year as the prices of fuel and food put pressure on household budgets. the response by the bank of england has been to raise the cost of borrowing. rates have recently been increased from 1% to 1.25%, the fifth consecutive rise, pushing them to the highest level in 13 years. our business correspondent, emma simpson, has been speaking to the chairman of the supermarket chain asda, lord stuart rose he told her that his customers have been cutting back on their shopping. if you haven t got the money, i cannot eat. iii if you haven t got t ....

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Transcripts For BBCNEWS BBC News 20240707



afghanistan. the government is introducing legislation which would allow ministers to ignore european court rulings such as the decision to stop asylum seekers going to rwanda. facebook s removes a large number of accounts posting pictures and videos of upskirting following an investigation by bbc news. a warning from charities that thousands of children in england are being moved each week from one foster placement to another. we ll speak to someone brought up in care to find out what impact that can have. up in care to find out and after a break of three years, glastonbury opens its gates this morning. good morning and welcome to bbc news. prices are continuing to rise at their fastest rate for a0 years, as food, energy and fuel costs continue to climb. uk inflation, the rate at which prices rise, edged up to 9.1% in the 12 months to may, up from 9% in april, the office for national statistics has said. the figure is now at the highest level since march 1982. the ba ....

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Transcripts For BBCNEWS BBC News 20240707



across the uk continue and so does the disruption, with only 60% of services running today. facebook s removes a large number of accounts, posting pictures and videos of upskirting, following an investigation and glastonbury is back after a three year gap fans are descending on worthy farm in somerset for one of the biggest music festivals in the world. hello and welcome if you re watching in the uk or around the world. at least 300 people have been killed in a powerful earthquake in afghanistan. the 6.1 quake struck overnight in the southeast of the country, with most of the confirmed deaths in a province called paktika. these are images of homes reduced to rubble. but the extent of the damage is still emerging as rescue efforts continue in outlying villages. the country s supreme leader has confirmed the number of dead, in a statement to the media, saying at least five hundred people are injured. hikmatullah esmat is head of the provincial health body in paktika. ....

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Transcripts for BBCNEWS BBC News 20240604 10:07:00

Definitely shopping around, looking for what s cheaper and where. i it s here in the supermarket aisles you get a taste of how the rising cost of living is starting to bite. we buy less and we buy cheaper products, unfortunately. we can t usually afford to buy all the named product stuff so we have to go and buy the essential stuff. if they re not going to give us the wage rises, we can t compete with inflation, we re suffering. at britain s third biggest grocer, they know that their customers are feeling the pain, too. so people aren t trading back, they re worried about spending, they ve got a limit that they set out to, they say £30 is my limit and if it gets to more than £30, that s it, stop. it s the same with petrol. what we re seeing is massive change in behaviour. we haven t had significant inflation in this country for many, many years. i am of a generation that could remember what it was like last time. once it gets hold, it s quite pernicious and it takes a long time to er ....

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Transcripts for BBCNEWS BBC News 20240604 08:03:00

We can t usually afford to buy all the named product stuff so we have to go and buy the essential stuff. if they re not going to give us the wage rises, we can t compete with inflation, we re suffering. at britain s third biggest grocer, they know that their customers are feeling the pain, too. people are trading back, they re worried about spending, they ve got a limit that they set out to, they say £30 is my limit and if they gets more than £30, that s it, stop. it s the same with petrol. what we re seeing is massive change in behaviour. we haven t had significant inflation in this country for many, many years. i am of a generation that could remember what it was like last time. once it gets hold, it s quite pernicious and it takes a long time to eradicate so people are fearful. we have launched a range ofjust essentials we have launched a range ofjust essentials and invested nearly £100 million essentials and invested nearly £100 million in essentials and invested nearly £ ....

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