UK inflation rate drops to 10.1% in January 2023
The consumer prices index (CPI) measure of inflation fell from 10.5% to 10.1% in January 2023, according to the Office for National Statistics (ONS).
Although inflation has dropped slightly, it is still substantially closer to its recent high …
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 …