'The scourge of inflation has not yet been defeated but there are reasons to be hopeful.' Sky's gurpreetnarwan gives her analysis 👇
Wholesale energy prices will continue to feed through to gas and electricity prices and global agricultural commodity prices have stabilised, which should offer some respite at supermarkets., which shows that inflationary pressure in the jobs market is also subsiding.
The Bank of England, like its counterpart in the US, has been keeping a very close eye on this as it fears that firms may put up their prices to fund pay rises, fuelling more inflation. However, the latest figures suggest that the momentum here has also peaked. Samuel Tombs, its chief economist, said:"Core goods CPI inflation should fall sharply as retailers pass on some of the savings from the collapse in shipping costs, and cut prices to shift excess inventory from their balance sheets.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
UK inflation: Price rises slow but remain close to 40-year highUK inflation, a measure of the cost of living, fell to 10.1% in the year to January.
Read more »
Wages rise but fail to keep up with inflationRegular pay increases at the fastest rate in over 20 years, but fails to keep up with rising prices.
Read more »
Grocery Inflation Slows in January, but Remains HighThe most significant price increase was for a dozen grade A eggs, which cost $4.82 in January, up 13.4% from December. Butter also rose in price by 1.48%, to $4.88 per pound.
Read more »
U.S. Inflation Drops Again, But Further Rate Hikes May Be Needed | OilPrice.comUS inflation eased for the seventh month in a row in January, but the pace of decline is beginning to level off, official figures out today reveal.
Read more »
Inflation falls to 10.1 per cent but rate still close to 40-year-high🔴 UK inflation eased for the third month running, falling to 10.1% in January from 10.5% in December, according to the Office for National Statistics
Read more »
The goods inflation warning\n\t\t\tExpert insights, analysis and smart data help you cut through the noise to spot trends,\n\t\t\trisks and opportunities.\n\t\t\n\t\tJoin over 300,000 Finance professionals who already subscribe to the FT.
Read more »