UK inflation rate drops to 6.7% in August 2023
The consumer prices index (CPI) measure of inflation fell from 6.8 % to 6.7% in August 2023, according to the Office for National Statistics (ONS).
It is important to remember that CPI is calculated by looking at the …
Bank of England increases interest rates to 3.5%
The Bank of England has increased interest rates from 3% to 3.5%. This is the ninth consecutive interest rate rise.
These recent increases in interest rates are an attempt to control the soaring cost of living. With the consumer prices …
UK inflation rate rises to 11.1% in October 2022
The consumer prices index (CPI) measure of inflation rose to 11.1% in October 2022, according to the Office for National Statistics (ONS). This is its highest level since October 1981.
The ONS confirmed that gas and electricity prices …
Bank of England increases interest rates to 3%
The Bank of England has increased interest rates from 2.25% to 3%. This is the eighth consecutive interest rate rise and the largest single increase 1989.
These recent increases in interest rates are an attempt to control the soaring cost …