Live Breaking News & Updates on Stubborn Uk Inflation
Stay updated with breaking news from Stubborn uk inflation. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
towards the west, and some sunshine holding on towards the south east corner, but an increasingly muggy, humid feel by day and by night as we head into the start of the weekend. saturday could see temperatures up to 28 or 29 degrees down towards the south, but at some point on sunday, this cold front is set to sweep its way southwards and eastwards, and that will change things and bring heavy, thundery rain. to sum up for the weekend, saturday, a lot of dry weather around, the weekend, saturday, a lot of dry weatheraround, real the weekend, saturday, a lot of dry weather around, real warmth and humidity, and then things will start to turn cooler and fresher. thanks, ben. and that s bbc news at ten on wednesday the 21st ofjune. for 13th time since 2021, after figures showed may s inflation was no lower than april s. why does the uk have worse core inflation than every other g7 country? there are fears rising interest rates could mean a million mortgage holders could see dispos ....
Bankers, like the bank of england, really care about. that s inflation stripping out volatile elements like food and fuel, because this shows the underlying inflationary pressure. so how does the uk compare there? well, core uk inflation rose again, to 7.1% in may. also much worse than the rest of the g7 and heading in the wrong direction. why does the uk have worse headline inflation? economists say it s mainly due to the design of the uk official energy market support here. the price cap means a delay in inflation coming down relative to elsewhere, as wholesale gas prices come down. but why do we have worse core inflation? candidates identified by economists include a bigger hit to the labour force from covid than elsewhere, a more overstretched uk health system at the moment than in other countries and brexit trade frictions. uk inflation is worse than our european and us ....
Finally, what about the government s pledge to halve inflation this year? getting to below here? when the prime minister set that pledge at the start of the year it looked like it was going to be comfortable, as you can see from the office of budget responsibility s march forecast the yellow line. but look at the outturn the red line. will it hit the target? it s going to be tight. so, stubborn uk inflation is going to be painfulfor everyone, the government, the overall economy but most of all for uk households. the non partisan institute for fiscal studies said today high borrowing costs was unquestionably going to cause serious difficulty for many families . let s talk now to charlotte towne, from surrey, who lives with her husband and daughter. they are high earners. theirfixed rate mortgage is due to expire early next year. based on the current rates being offered, it will increase by over £1000 every month. madalyn bielfeld from borehamwood ....
Counterparts because, like the us, we have a tight labour market which is affecting wages and that s affecting inflation. and like europe, we are more affected by the energy and food price rises that we ve seen in europe. the supply side of the economy is weak because of brexit and loss of our largest trading partner. that does lower down the supply side of the economy. but what about the bank of england? was the bank and its governor, andrew bailey, too late to raise rates? here s when the bank, the light blue line started raising interest rates, december 2021. as you can see, it started before its us counterpart, the red line, or the european central bank the dark blue line. but some do still argue that the bank should have started earlier and done more. when the bank began hiking rates, uk inflation was the second highest in the g7 and rising quickly. ....
Let s talk to the shadow treasury minister abena 0ppong asare. thank you for being here. nobody wants it but do we need a recession to sort inflation out? i wants it but do we need a recession to sort inflation out? to sort inflation out? i think firstl , to sort inflation out? i think firstly. i to sort inflation out? i think firstly, i want to sort inflation out? i think firstly, i want to to sort inflation out? i think firstly, i want to say - to sort inflation out? i think firstly, i want to say what i to sort inflation out? i think i firstly, i want to say what i ve heard from madalyn and charlotte is extremely concerning and i know a lot of individuals tonight will be going to sleep really worried about their mortgages and losing their properties. as they mentioned, there are a number of factors that have put us in this situation which is obviously liz truss s budget. although interest rates were rising before that. but although interest rates were rising before that. ., ....