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UK inflation unexpectedly rises despite sharp fall in fuel prices

UK inflation unexpectedly rose to 4.0% in December, complicating predictions for the Bank of England to begin cutting interest rates. The Office for National Statistics said annual inflation as measured by the consumer prices index (CPI) rose from the 3.9% reading in November, halting a period of recent sharp declines. City economists had forecast a modest decline to 3.8%. Nonetheless the development will enable Rishi Sunak to declare victory on his top economic priority, after pledging a year ago to halve the rate in 2023 at a time when it was above 10%. Most economists had expected it to drop by this much anyway, but inflation…

Inflation rises in blow to interest rate cut hopes - latest updates

Inflation ticked up last month for the first time in nearly a year, official figures show, in a blow to hopes that the Bank of England will begin cutting interest rates in the coming months. The consumer prices index (CPI) rose to 4pc in December, according to the Office for National Statistics (ONS). The rate of inflation increased from 3.9pc in November and was higher than the 3.8pc that had been predicted by economists. It was the first time inflation has risen since February last year. ONS chief economist Grant Fitzner said the uptick in inflation was a result of “rises in tobacco prices due to recently introduced duty…

Eurozone nightmare as Germany's business model is now broken in 'big problem'…

Rishi Sunak Olaf Scholz (Image: GETTY) Germany has gone from being the powerhouse of the European Union to the sick man of Europe, a UK-based economist has warned. And Julian Jessop believes that while Berlin’s woes are nothing for Britain to crow about, Prime Minister Rishi Sunak should take comfort in the fact that the domestic economy is in significantly better shape. This is partly a result of the decision more than two decades ago not to join the Eurozone . Mr Jessop, Economics Fellow at the Institute for Economic Affairs (IEA), was commenting on figures published on Monday by the German government’s Federal Statistical Office…

Women's Health Gap Costs $1 Trillion Worldwide: Report

INTERNATIONAL BUSINESS TIMES NEWSLETTER SIGNUP My account Log Out Jan 17, 1:08 AM EST World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion NEWSLETTER My account Log Out US Edition World U.S. Economy & Markets Companies Technology Digital Life Culture Sports Crypto Opinion Listings & More Spotlight Glossary SMB Forum Glossary K-Wave CEO Spotlight Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States NEWSLETTER Follow Us Editions Australia Edition India Edition International Edition Singapore Edition United Kingdom United States World…

What’s this new Scottish Enterprise strategy all about?

Scottish Enterprise (SE) has unveiled a new blueprint for economic growth, so what’s changed? And how will the north-east benefit from its three ‘missions’ of energy transition, productivity and innovation? The good news is Aberdeen city and shire have no shortage of firms ticking all three boxes. SE chief executive Adrian Gillespie knows the region well, having previously held the role of head of energy at the economic development quango. New strategy aims to deliver thousands of new jobs across Scotland He was also on the board at economic development partnership Opportunity North East. I sat down with him to discuss the new…