Interest rates, inflation will mar global economic recovery: OECD
The rebound from the COVID-19 pandemic and energy price spike tied to Russia’s invasion of Ukraine is likely to be weak by past standards.
Inflation
UK banks pull hundreds more home loan deals as fixed mortgage rates rise
Mortgage market turmoil prompts record numbers of people to take out loans of more than 35 yearsHundreds more home loan deals have been pulled by banks and building societies since the end of last week while rates on new fixed mortgage deals are contin…
Rise in UK breweries going bust amid thirst for cheaper craft beers
45 breweries, mostly smaller makers, enter insolvency in last 12 months, up from 15 the previous yearThe number of UK breweries going out of business has tripled in the past year, with smaller craft beer manufacturers most at risk as consumers opt for …
Australia’s inflation rate rose to 6.8% driven by energy prices but underlying price pressures eased
Underlying inflation dropped to 6.5% in April from 6.9% in March, reducing the chances of another Reserve Bank rate rise in JuneFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news …
Why it’s not quite back to the 70s with talk of food price controls
Statutory caps were brought in under Heath, now the government wants a voluntary store scheme to meet Sunak’s pledge to halve inflationA cost-of-living crisis. Pressure on the government to step in to help hard-pressed consumers. Calls for supermarkets…
UK food inflation dips in May, raising hopes rate of price growth is slowing
British Retail Consortium says rate fell from 15.7% to 15.4% even as rise in overall shop price growth hits fresh highFood inflation in the UK fell in May, lifting hopes that the rapid increase in grocery price growth may have reached its peak after ke…
‘Shops will close’: soaring cost of potatoes batters British chippies
The once humble, low-cost staple more than doubles in price, putting many fish and chip shops at riskWhether it’s fried, baked or mashed, potatoes have traditionally been a low-cost staple food in the UK – but not any more.A surge in costs is clobberin…
Rishi Sunak warned over possible UK recession in 2024
High inflation likely to push interest rates above 5% and force up mortgage and loan payments just ahead of electionHunt will back more rate rises even if they lead to recessionHouseholds warned to brace for 5%-plus mortgage ratesRishi Sunak has been w…
Hunt will back more interest rate rises even if they push UK to recession
Chancellor to support Bank of England’s decisions because ‘inflation is a source of instability’Business live: latest updatesJeremy Hunt said he will back further interest rate rises by the Bank of England, even if they risk plunging the UK into recess…
Inflation pushes Germany into recession with Europe’s largest economy shrinking in first few months of year
INFLATION has pushed Germany into recession in the first three months of the year.
Europe’s largest economy shrank by 0.3 per cent from January to March — after contracting by 0.5 per cent in the last three months of 2022.
Leader of opposition pa…