Tag: fuel costs

Factory gate inflation rises, driven by higher fuel costs

Factory gate inflation rises, driven by higher fuel costs

The Office for National Statistics (ONS) has today revealed UK producer output prices rose in September – driven by higher fuel and food costs. The increase will no doubt raise concern about whether consumer price inflation will slow next year as sharply as the Bank of England is forecasting. According to the ONS, output prices […]

October 7, 2011 More
US inflation rises more than expected in March

US inflation rises more than expected in March

The US Labor Department has today revealed consumer prices climbed to 2.7% in March from 2.3% in February. The rise, which was more than expected, was attributed to higher food and petrol prices. Meanwhile, on a monthly basis, consumer prices rose by 0.5% in March. Inflation is rising in many economies throughout the world, particularly […]

April 15, 2011 More
Food prices soaring to dangerous levels

Food prices soaring to dangerous levels

According to the World Bank, soaring food prices have pushed more than 40 million people into poverty in the last year. Worryingly, a further 10% increase in food prices would push 10 million below the extreme poverty line – defined as an income of less than $1.25 a day. Robert Zoellick, World Bank president, was […]

April 14, 2011 More
Revenue up at easyJet despite snowfall

Revenue up at easyJet despite snowfall

Budget airline easyJet has today said it was hit by the severe wintry weather in Europe last month and was hit by costs of £31 million, which also included strike action by French air traffic controllers. However, taking this into account, the airline said revenue in its first quarter (the final three months of 2010) […]

January 20, 2011 More
Euro zone inflation sees sharp rise in July

Euro zone inflation sees sharp rise in July

Annual inflation in the 16-member euro zone has increased from 1.4% in June to 1.7% last month – a 20-month high. On a monthly basis, prices fell 0.3% in July. According to the EU statistics agency Eurostat, inflation was driven by higher fuel costs. Meanwhile, across the 27 nations in the European Union, annual inflation […]

August 16, 2010 More
US consumer prices drop in May

US consumer prices drop in May

Official data has today revealed that US consumer prices fell for the second consecutive month in May, by 0.2% on a monthly basis. The fall was attributed to declines in fuel costs, after energy prices dropped sharply, according to the Labor Department. The fall in May was the biggest monthly drop since December 2008. Meanwhile, […]

June 17, 2010 More
Losses shrink at Ryanair due to cutbacks

Losses shrink at Ryanair due to cutbacks

Irish budget airline Ryanair has today posted a €10.9 million (£9.4 million) loss for the October to December quarter. However, the loss for Europe’s largest no-frills airline was much less than the €101.5 million deficit it posted for the same period a year earlier – when fuel costs were sky-high. The group said the result […]

February 1, 2010 More
easyJet hit by rising fuel costs

easyJet hit by rising fuel costs

Budget airline easyJet has posted a severe fall in profits for the full-year to the end of September as a result of rising fuel costs. The airline posted underlying pre-tax profits of £43.7 million, compared with £123.1 million in the same period a year earlier – a fall of 64.5% However, the no-frills airline said […]

November 17, 2009 More
Aer Lingus to axe almost 700 jobs

Aer Lingus to axe almost 700 jobs

Irish airline Aer Lingus, which like many others is struggling amid the global recession, has today announced plans to reduce headcount by 676 in a bid to save €97 million (£90 million) over the next two years. Furthermore, the airline is also calling on staff earning more than €35,000 (£32,400) a year to take a […]

October 7, 2009 More
Britain’s poorest families in line for fuel vouchers

Britain’s poorest families in line for fuel vouchers

The Government is drawing up plans to help Britain’s poorest families in the form of vouchers to help them with soaring fuel bills. Vouchers worth between £50 and £100 could be sent to around six million who claim child tax credit and would be redeemed directly against fuel bills. However, the proposed scheme has met […]

August 15, 2008 More