News Tag: inflation
March 12, 2010
British consumers should expect to face more financial difficulty this year than during 2009, a financial expert has claimed.
Richard Perks, director of retail research at Mintel, said it is "obvious" that living costs are going to rise while income is squeezed.
The tough times are "really still to come," Perks said.
"That doesn't necessarily mean we are going to have a double dip ...
Consumers warned 2010 will be difficult
by David Masters
March 11, 2010
Official data today revealed Chinese consumer prices reached a 16-month high last month - the fourth straight monthly rise.
The National Bureau of Statistics said consumer price inflation rose to 2.7% in February compared with a year earlier and up from 1.5% in January.
Analysts had expected a rate of 2.3%.
As a result, some economists believe the Government will have to raise ...
Chinese inflation rises for fourth consecutive month
by Kay Murchie
March 4, 2010
The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% for the tenth consecutive month, as widely expected.
Interest rates are expected to remain on hold until at least 2011, as a result of uneven growth and low inflation.
ECB President, Jean-Claude Trichet, said: “Overall, the governing council expects the euro area ...
Euro zone interest rates on hold at 1%
by Kay Murchie
BoE keeps interest rates and QE on hold
by Kay Murchie
House prices down 1.5% in February
by Gill Montia
BoE expected to keep interest rates on hold
by Kay Murchie
March 2, 2010
A survey by price comparison service uSwitch.com has revealed 16 million workers (or more than half the UK's workforce) do not expect to get a pay rise this year.
The online survey of 4,235 adults also found that a further third of the UK’s workforce believed that if they did receive an increase, it would be below the rate of ...
Survey shows gloomy pay prospects for workers
by Kay Murchie
February 26, 2010
In its annual budget, India’s finance minister, Pranab Mukherjee, has said the economy is in good shape and stimulus measures are set to be reviewed.
The economy is recovering faster than expected after expanding at an annual rate of 7.9% in the three months to the end of September, after growing 6.7% in the year to the end of March 2009.
The ...
Indian economy poised for high growth
by Kay Murchie
February 24, 2010
Chairman of the Federal Reserve Ben Bernanke has today said US interest rates will need to stay low in order to keep the economic recovery on track.
In a testimony before Congress, Bernanke said there was a "nascent economic recovery" and said long-term recovery will depend on private sector’s demand for goods and services.
Bernanke, who was recently awarded ...
Federal Reserve chairman pledges low interest rates for long-term
by Kay Murchie
February 23, 2010
Mervyn King, the Bank of England’s Governor, has today appeared before the Treasury Select Committee to discuss the latest inflation figures and the issues surrounding the UK’s economy.
Last week, the Office for National Statistics revealed Consumer Price Inflation (CPI) rose to a 14-month high of 3.5% in January, driven by higher petrol costs ...
Rating agencies should not be concerned about UK’s fiscal position says King
by Kay Murchie
February 19, 2010
Official data has revealed US consumer prices rose by a slower-than-expected 0.2% in January.
On an annual basis, prices were up 2.6% - also below expectations.
The increase was the result of a hike in energy prices, which rose for the ninth month in a row. Over the last year, energy prices have soared 19.1%, said the Labor Department.
Meanwhile, excluding volatile ...
US consumer prices up 0.2% in January
by Kay Murchie
February 18, 2010
With inflation now above 3.5% it has become close to impossible for savers to get a real return on their savings.
Instant access accounts pay an average interest rate of 0.86% gross, equivalent to 0.69% for a basic rate taxpayer and 0.52% for a higher rate taxpayer.
This is compared to inflation of 3.7% according to the Retail Prices Index (RPI), and 3.5% according to ...
Inflation sting for savers
by David Masters
February 17, 2010
Minutes of the Bank of England’s February meeting have been released today and have revealed that the Monetary Policy Committee (MPC) voted unanimously this month to keep interest rates at the historic low of 0.5%.
Furthermore, all nine members of the MPC opted to put the brakes on the quantitative easing (QE) programme.
QE, also known as printing ...
Bank voted 9-0 to hold rates and QE programme
by Kay Murchie
February 16, 2010
The Office for National Statistics (ONS) will announce the UK inflation rate this morning, which analysts are expecting to be around 3.5%.
Last month, the ONS reported that Consumer Price Inflation (CPI) rose at its fastest annual pace in 9 months in December, rising to an annual rate to 2.9%.
The rise was driven by higher petrol costs and the effects of the reduction ...
Inflation expected to exceed 3%
by Kay Murchie
February 10, 2010
The UK's official rate of inflation increased to 2.9% in December 2009, up from just 1.1% three months earlier.
The rise was driven by higher petrol costs and the effects of the reduction in the standard rate of VAT a year earlier dropping out of the twelve-month comparison.
In it quarterly inflation report, the Bank of England is predicting further rises in the ...
Official rate of inflation hits 2.9%
by Gill Montia
February 8, 2010
A report by the Labour Research Department (LRD) has found that despite rising inflation, the rate of wage freezes is growing.
The study found that a third of all pay deals now included a pay freeze - the largest proportion since the onset of the recession.
The findings come despite a rise in Retail Price Inflation (RPI). RPI, which includes mortgage costs ...
Pay freezes continue despite rise in RPI
by Kay Murchie
February 4, 2010
The European Central Bank (ECB) today elected to keep interest rates on hold at the historic low of 1% for the ninth consecutive month, as widely expected.
Interest rates are expected to remain on hold for the long-term as a result of uneven growth and low inflation.
The euro zone as a whole emerged from recession in the third quarter ...
Euro zone interest rates on hold at 1%
by Kay Murchie
BoE keeps interest rates on hold and halts QE
by Kay Murchie
BoE expected to leave interest rates on hold and halt QE
by Kay Murchie
January 21, 2010
China‘s economy, which is currently the world’s third largest, saw double digit growth in the fourth quarter of 2009 and the economy is now on target to surpass Japan and become the world’s no.2 economy.
The economy expanded by 10.7% in the final quarter of 2009 compared with the same period a year earlier.
Meanwhile, the economy grew by 8.7% ...
Chinese economic growth exceeds Government expectations
by Kay Murchie
