Raise Bank of England inflation target to 3%, says leading thinktank Resolution Foundation also calls for Bank to have power to set below-zero interest rates in response to future downturns The Guardian - UK · Oct 18, 2023
Britain needs economic and fiscal policy ‘reset’ to fight future crises – report The Resolution Foundation is warning the UK is on course for debt to rise to around 140% of economic output over the next 50 years. The Independent UK · Oct 18, 2023
Fear factor: On the inflation battle Inflation faced by consumers eased to 5% in September, but the preferred inflation rate remains 4% The Hindu · Oct 18, 2023
Escalating Middle East conflict could send global inflation soaring, says S&P Global credit rating agency says further deterioration in Israel-Hamas war could raise oil prices with knock-on effect for inflation The Guardian - UK · Oct 18, 2023
If you’re in the 1% or middle class, inflation has actually made you richer, according to a top economist who’s been researching inequality for over 40 years Yes, inflation is a tax on incomes, finds NYU’s Edward Nathan Wolff, but it also shrinks debt and can boost asset value, like that of homes. Fortune · Oct 18, 2023
Business rates could rise by £1.95bn in ‘bleak picture’ for UK retail and hospitality Inflation-linked increase next year would be ‘final nail in the coffin’ for many businesses, trade bodies warn The Guardian - UK · Oct 18, 2023
Stocks Tumble on Renewed Middle East Risks What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.78%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.50%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.85%. Stocks this morning are moderately lower on the risks... Barchart · Oct 18, 2023
Bank of America warned consumers they would be pushed to the 'point of pain', CEO Brian Moynihan says we've now reached that point Brian Moynihan, the CEO of Bank of America, said although consumers are buying less, some families are beginning to spend more than they're bringing in. Fortune · Oct 18, 2023
S&P Futures Plunge as Middle East Fears Weigh on Sentiment, Tesla and Netflix Earnings on Tap December S&P 500 futures (ESZ23) are trending down -0.45% this morning as uncertainties lingered in the Middle East, and investors weighed the possibility of further rate hikes by the Federal Reserve while eagerly awaiting earnings results from U.S. heavyweights Tesla and Netflix. Barchart · Oct 18, 2023
Sticky inflation and oil price surge dims hopes for interest rate cuts Most forecasters do not expect a cut for another year Evening Standard · Oct 18, 2023
S&P Futures Drop as Middle East Fears Weigh on Sentiment, Tesla and Netflix Earnings on Tap December S&P 500 futures (ESZ23) are trending down -0.34% this morning as uncertainties lingered in the Middle East, and investors weighed the possibility of further rate hikes by the Federal Reserve while eagerly awaiting earnings results from U.S. heavyweights Tesla and Netflix. Barchart · Oct 18, 2023
UK inflation: which goods and services have changed most in price? From sugar to butter and transport to holidays, how the cost of everyday items varies The Guardian - UK · Oct 18, 2023
UK house prices ‘little changed’ from a year ago but rents show record rise The average UK house price was £291,000 in August 2023, which was little changed from 12 months earlier, the Office for National Statistics said. The Independent UK · Oct 18, 2023
London remains UK's most expensive region even as house prices fall London house price falls second highest in UK Evening Standard · Oct 18, 2023
Evening Standard · Oct 18, 2023 '£10 for return trip through Blackwall tunnel' warning as Sadiq Khan seeks Government help for lower tolls for low-income drivers A toll will be imposed from 2025 which London mayor warns could be as high as £5.25 if the previous £4 proposal was increased in line with inflation
Motor1 · Oct 18, 2023 Federal Tax Incentives To More Than Double US EV Sales By 2030: Analysis Demand for lithium should be 15 percent higher in the United States in 2035 thanks to the US Inflation Reduction Act.
The Independent UK · Oct 18, 2023 Pensioners could be set for inflation-busting state pension rise next April Experts have said a potential increase to the state pension of 8.5% could re-ignite the debate around the sustainability of the triple lock.
The Guardian - UK · Oct 18, 2023 Sticky UK inflation puts Rishi Sunak’s target in jeopardy Ministers face anxious wait and consumers more pain on prices as September rate stays steady
The Independent UK · Oct 18, 2023 Inflation in UK unchanged at 6.7% in September, still way more than Bank of England's target of 2% Inflation in the U.K. held steady at 6.7% in September as easing food and drink price rises were offset by higher fuel costs for motorists
The Guardian - UK · Oct 18, 2023 UK has highest inflation in G7 after CPI fails to fall in September – as it happened UK consumer prices inflation remained at 6.7% in September, dashing hopes of a fall, as petrol and diesel prices increase
Evening Standard · Oct 18, 2023 Blow to Rishi Sunak as inflation rate stays at 6.7% for September City forecasters had expected inflation to fall slightly
The Independent UK · Oct 18, 2023 UK inflation in shock pause at 6.7 per cent as soaring fuel costs offset falling food prices An easing of food and non-alcoholic drinks prices was offset by higher fuel prices for motorists
The Guardian - UK · Oct 18, 2023 UK inflation unexpectedly holds steady at 6.7% amid rising fuel prices Rate is unchanged in September, raising questions over next Bank of England decision on interest rates
The Independent UK · Oct 18, 2023 October dates for benefits, pensions and cost of living payments Lower Energy Price Cap coming into effect this autumn but stubborn inflation means further interest rate hike likely to continue to place strain on mortgage holders
The Independent UK · Oct 18, 2023 November dates for benefits, pensions and cost of living payments Inflation very gradually easing but many households still struggling