Inflation will keep breaching BoE target over next half decade September 17, 2021 Inflation will routinely breach the Bank of England’s target over the next half a decade, according to fresh data released today. The Bank’s latest survey on inflation expectations shows Brits think the rate of price rises will hit three per cent in five years’ time, one percentage point above the Old Lady’s target. Over the [...]
University education contributes to regional inequality, according to IFS September 17, 2021 University education is contributing to geographical inequality across the UK, according to a new report published by a leading economic think tank today. Higher education allows graduates to move to London and other cities that offer better career prospects, shows research by the Institute for Fiscal Studies. By the age of 27, graduates are 10 [...]
UK economic growth to smash official forecasts this year September 16, 2021 The UK economy will grow faster than official forecasters expect this year and the rate of expansion will be higher in the long term, according to a new report released today. Ratings agency Fitch says the British economy will grow 6.6 per cent this year, higher than the Office for Budget Responsibility’s four per cent [...]
US retail sales smash expectations in August September 16, 2021 US retail sales smashed expectations last month, boosting confidence in the American economy’s recovery from the Covid crisis even amid a surge in cases driven by the Delta variant. Retail sales jumped 0.7 per cent in August, up sharply from 1.8 per cent in the previous month, according to fresh figures published by the US [...]
Brexit: Lorry driver shortages triggered by lack of EU workers September 16, 2021 Shortages of lorry drivers that are driving the UK economy to a grinding halt are primarily the result of a lack of EU workers due to Covid and Brexit, according to official statistics released today. One in four businesses are struggling to fill roles as a result of a sharp reduction in the supply of [...]
Build 250,000 homes for key workers, urges think tank September 16, 2021 The government should ring fence land to build 50,000 homes each year for key workers on the frontline of dealing with the Covid crisis. The Centre for Policy Studies (CPS) has called on the government to use land to build affordable homes for key workers to help them get on the property ladder. Properties built [...]
UK tops G20 economic growth rankings September 15, 2021 The UK economy grew at the fastest rate among the group of rich and developing nations in the second quarter of this year, according to new figures released today. The Organisation for Economic Co-operation and Development (OECD) said the British economy expanded 4.8 per cent between April and June this year, the fastest rate out [...]
UK manufacturers’ costs rise at fastest pace in a decade September 15, 2021 UK manufacturers’ costs rose at their fastest pace in a decade last month, adding to concerns price rises in the British economy may be much stickier than expected after separate data published today shows consumer price inflation jumped at its fastest rate on record. Input prices – typically materials used in the day-to-day running of [...]
Analysis: How did inflation rise at its fastest pace on record? September 15, 2021 Inflation in the UK is soaring at its fastest pace since records began. On an annual basis, prices jumped 3.2 per cent last month, up from two per cent in July, the highest monthly percentage point increase recorded, primarily driven by sharp rises in the cost of eating out compared to the same period in [...]
UK inflation soars to 3.2 per cent in record jump September 15, 2021 Inflation rose at the fastest rate since records began last month, new data showed today, though economists warned the jump was likely to be temporary. The Consumer Prices Index rose 3.2 per cent in August, up from 2.0 per cent in July, the single biggest one-month jump since the ONS began publishing the data in [...]
