CPI
Inflation set to rise above 2% in first increase this year
City economists expect the headline inflation figure to lift above the Bank of England’s target in Wednesday’s data, which relates to July.
Bank cuts interest rates to 5% but signals rapid fall unlikely to come
Governor Andrew Bailey said the Bank needs to be ‘careful not to cut interest rates too quickly or by too much’.
Bank of England cuts interest rate to 5% in first drop since 2020
The Bank has reduced rates from 5.25% to 5%.
Examples of how inflation has eased or accelerated for everyday items
A handful of items are recording negative inflation, with prices are falling year-on-year.
UK inflation stays at 2% despite surge in hotel prices
The rate of Consumer Prices Index inflation remained unchanged at 2% in June, the Office for National Statistics said.
Inflation held at 2% in June, but hotel prices soared by 8.8% - ONS
The rate of Consumer Prices Index inflation was at 2% for the second month in a row last month, the Office for National Statistics said.
Fight against price rises sees UK inflation hold steady in June
The rate of Consumer Prices Index inflation was at 2% for the second month in a row last month, the Office for National Statistics said.
How the rate of inflation has changed for everyday items
The average price of low-fat milk was down 2.8% in May, while cheese dropped 3.9%.
People still feeling worse off than pre-pandemic, says Jeremy Hunt
The Chancellor pointed to the ‘economic shocks’ of the pandemic and energy crisis as reasons for a fall in living standards.
Summer interest rate cut ‘possible’, says Bank of England deputy governor
The UK interest rate currently sits at a 16-year-high of 5.25%.