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The Latest Breaking News from Inflation

OPINION - Bank of England acted too late on inflation and now homeowners will pay

This morning’s UK inflation data can be described in just two words: truly horrible. With headline inflation stuck at 8.7 per cent and core underlying inflation rising from 6.8 per cent to 7.1 per cent, the Bank of England is facing a huge problem. Most thought the Bank’s key policy…

Evening Standard

Why today's inflation announcement is bad news for millions of homeowners

"The fear is that the situation could deteriorate from here"

Manchester Evening News

Why is inflation still so high and what does it mean for me?

The cost of living crisis continues to bite

Liverpool Echo

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Mortgage mayhem sees lenders pull almost 150 more deals, but worst may still be to come

More lenders may withdraw their deals by the end of the day

Evening Standard

Stephen Flynn claims Rishi Sunak has taken 'honesty lessons from Boris Johnson'

MPs voted to take away former PM Johnson's parliamentary pass earlier this week.

Daily Record

Markets Today: Stocks Slip Ahead of Powell Testimony

Morning Markets September E-Mini S&P 500 futures (ESU2 3) this morning are down -0.22%, and Sep Nasdaq 100 E-Mini futures (NQU2 3) are down -0.37%. U.S. stock index futures are mildly lower as the market remains cautious ahead of Fed Chair Powell’s semi-annual testimony later this morning before the House...

Barchart

Fed chair expects interest rates will increase "somewhat further" this year

He is expected to tell lawmakers that there is still "a long way to go" to cool inflation.

Axios

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What is meant by inflation, why it's still high and how it affects you

It had been expected that the rate would fall again, but it stayed the same

Bristol Post

What inflation is, why it's still high and what it means for you

It had been expected that the rate would fall again, but it stayed the same

Wales Online

Sunak defends inflation plan as Starmer labels him out of touch over mortgages

Labour leader accuses PM of failing to act on warnings about home loan repayments hit by ‘Tory penalty’

The Guardian - UK

Inflation hitting Scots hard as cost of food and fuel remain 'eye-wateringly high'

Experts warned Scots face "a miserable summer" of high inflation and higher interest rates.

Daily Record

Why is inflation still high and what does it mean for me?

The rate of inflation stayed flat at 8.7% in May, despite hopes from economists that it would fall and provide some relief for households.

The Independent UK

Londoners and under-40s hardest hit by Britain’s mortgage rate mayhem (and don’t forget renters)

Inflation refuses to budge as under-40s, renters and London homeowners feel the pain

Evening Standard

OPINION - The Standard View: Londoners feel the squeeze as inflation refuses to budge

In a sea of economic data that always seems to disappoint, today’s inflation figures may plumb new depths. The Consumer Prices Index (CPI) rose by 8.7 per cent in the 12 months to May 2023. In other words, despite all the pain of higher interest rates, inflation remains unchanged.

Evening Standard

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Daily Mirror

Interest rate hikes could see 1.4million Brits lose 20% of disposable income

The Bank of England is expected to raise the base rate - which influences interest rates lenders charge for mortgages, loans and other types of credit - again tomorrow in an effort to curb inflation

The Guardian - UK

UK government debt rises above 100% of GDP for first time since 1961

In blow to Rishi Sunak’s plans to cut taxes before general election, net debt reached £2.6tn at of end of May

Manchester Evening News

Bank of England interest rate announcement this week - what could happen as inflation fails to fall

The Bank is under fresh pressure following new inflation figures this week

Evening Standard

London house market faces ‘slowdown’ as Bank of England risks overdoing rate rises says Berkeley boss

Rob Perrins, one of the longest-serving CEOs on the FTSE 100, does not expect house prices to fall

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The Guardian - UK

UK inflation: which goods and services have risen most in price?

From gig tickets to video games to air fares, costs soared in May as food and drink prices also rose sharply

Evening Standard

Bank of England could spring interest rate ‘jumbo hike’ today amid wage-price spiral fears

With inflation stuck at 8.7%, economists said a jump straight to 5% interest rates might be needed

The Guardian - UK

Will Rishi Sunak meet his December deadline to halve UK inflation?

As Bank raises interest rates again and big business greedflation pushes prices higher, the PM’s vow is a gamble

The Guardian - UK

Housing market will be ‘choppy’ until interest rates settle, says Berkeley boss

Housebuilder reports jump in annual pretax profit but says current trading suggests 20% fall in sales this year

The Guardian - UK

Jeremy Hunt tells Covid inquiry quarantining people sooner ‘might have avoided’ first lockdown – as it happened

Former health secretary says understanding important of early quarantining could have helped prevent disease spreading

GoodToKnow

What does a change in inflation mean for your family?

Inflation is hitting the news again, but what does the latest change mean for your family and your money

Daily Mirror

How much your mortgage will rise by if Bank of England hikes interest rates today

Some analysts expect the base rate to rise by 0.25 percentage points to 4.75% with others predicting an even bigger increase to 5% - so how much would your mortgage rise by?

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