The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) accelerated to annual rate of 5.2% last month from August’s rate of 4.5%. The rate represented the highest since September 2008 and it has never exceeded this rate since the CPI measure was first calculated in 1997. Higher inflation continues to be led [...]
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.5% last month from July’s rate of 4.4%. However, the figure was in line with analysts’ expectations. Higher inflation continues to be led by rising food costs but the main reason behind last month’s rise was a 5.1% [...]
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) rose to annual rate of 4.4% last month after easing to 4.2% in June. Analysts had expected the figure to rise slightly to 4.3%. Higher inflation continues to be led by rising food costs – which grew by 6.2% in July, while clothes [...]
The Office for National Statistics (ONS) today announced Consumer Price Inflation (CPI) held steady at an annual rate of 4.5% in May – the highest level since October 2008. However, the figure was in line with forecasts and high inflation has been attributed to rising energy and food prices. Today’s figures mean inflation continues to [...]
The UK minimum wage will rise by 13p (2%) to £5.93 an hour today and is set to benefit almost one million people, according to the Low Pay Commission. The 13p an hour rise applies to workers aged 21 and over. Meanwhile, the rate for 18 to 20-year-olds will increase by 9p to £4.92, while [...]
The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) held steady at the annual rate of 3.1% in August. The latest figure represents the ninth consecutive month that inflation has been above the Bank of England’s target of 2%. However, analysts had expected CPI to dip slightly to 2.9%. Inflation remained [...]
The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate this morning, with analysts expecting the annual rate to be around 2.9% – representing the ninth consecutive month that it has been above the Bank of England’s target of 2%. Last month, the ONS reported Consumer Price Inflation (CPI) eased to [...]
The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) slipped to an annual rate of 3.1% in July – down from to 3.2% in June. The latest figure, which was widely expected by analysts, represents the eighth consecutive month that inflation has been above the Bank of England’s target of 2%. [...]
The Office for National Statistics (ONS) is scheduled to announce the UK inflation rate this morning, with analysts expecting the annual rate to be around 3.1% – representing the eighth consecutive month that it has been above the Bank of England’s target of 2%. Last month, the ONS reported Consumer Price Inflation (CPI) eased to [...]
The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) eased further to 3.2% in June – down from 3.5% in May. However, the rate was slightly higher than the 3.1% economists expected but has eased from the 17-month high of 3.7% in April. While the level still far exceeds the 2% [...]
It has been announced that the UK minimum wage will rise by 13p (2%) to £5.93 an hour from October 1 and is set to benefit almost one million people, according to the Low Pay Commission. The 13p an hour rise applies to workers aged 21 and over. Meanwhile, the rate for 18 to 20-year-olds [...]
The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) rose to 3.7% in April – the highest level in 17 months and far exceeding the 2% target. Furthermore, the increase was much higher than analysts’ expectations. The rise was boosted by food, fuel and clothing price gains. Annual food inflation reached [...]
As the Labour Government’s general election campaign continues, its latest pledge is to increase the basic state pension in accordance with earnings from 2012 – provided the party is re-elected. The pensions-earnings link was scrapped by Margaret Thatcher thirty years ago and replaced with the retail price inflation index (RPI). However, with pensions being linked [...]
The Office for National Statistics (ONS) has today announced Consumer Price Inflation (CPI) slowed to 3% in February – slightly more than the 3.1% expected by analysts. It is hoped today’s figures from the ONS will reinforce that inflation is on a downward trend after reaching a 14-month high of 3.5% in January. Inflation has [...]
The Office for National Statistics has today announced that Consumer Price Inflation (CPI) rose to a 14-month high of 3.5% in January – as widely expected. The rise in inflation has been driven by higher petrol costs and the effects of the reduction in the standard rate of VAT. Meanwhile, CPI fell 0.2% on the [...]
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 [...]
Inflation figures for December are “worrying” and should be “ignored at our peril”, a financial expert claimed this week. The Consumer Price Index rose from 1.9% to 2.9% in December, while the Retail Price Index jumped from 0.3% to 2.4%. David Kuo, director of financial website fool.co.uk, said the dramatic “surge in inflation” is “unlikely [...]
The Office for National Statistics has today announced that Consumer Price Inflation (CPI) rose at its fastest annual pace in 9 months in December. CPI rose 0.6% in December on the month, taking the annual rate to 2.9%, up from 1.9% the previous month. This was the largest monthly rise in the annual index since [...]
The Office for National Statistics has today announced that Consumer Price Inflation (CPI) rose again for the second consecutive month to 1.9%, up from 1.5% in October and a sharp rise from the 5-year low of 1.1% in September. The latest figure means CPI is just slightly under the Bank of England’s target of 2% [...]
The Office for National Statistics has today announced that Consumer Price Inflation (CPI) rose for the first time in eight months to 1.5% in October from a 5-year low of 1.1% in September. The rise was not unexpected after a sharp fall in transport costs last year was not repeated this year and because fuel [...]
M&S Money launches 3% cash ISA
M&S Money has launched an Advantage Cash ISA paying 3 per cent, and which allows transfers in from other ISAs. It can be opened with a minimum deposit of £100 lump sum followed by minimum monthly deposits of £25. The 3% rate is variable, but there is no short-term bonus so the return won’t plummet [...]
Google suspends UK Compare Mortgages site
Google has closed its UK mortgage comparison site which it launched in July last year, after it proved to be less popular than expected. Mortgage comparison sites are designed to allow visitors to compare mortgages quickly and easily without having to visit each lender’s individual site. Google was competing with several well-established comparison sites, including [...]
AA launches ‘black-box’ policy for young drivers
The AA is launching an innovative car insurance policy called Drivesafe which could help younger drivers save up to £850 a year. Younger drivers already pay substantially higher premiums than other motorists and these costs are increasing. A new study by Confused.com suggests insurance costs for younger driver have gone up by 5.7 per cent [...]
ATOL scheme updated to protect online bookers
ATOL, a financial protection scheme managed by the Civil Aviation Authority, is being extended to protect up to six million more holidays a year. The scheme ensures that holiday makers do not lose out financially if a travel company collapses, and that they are not stranded abroad. An increase in the number of holidays booked [...]
Home repossessions lowest for four years
The number of UK homes repossessed fell to 36,200 in 2011, significantly below the Council of Mortgage Lenders’ forecast of 40,000, and lower than 2010 when 37,100 homes were repossessed. With interest rates remaining low and lenders adopting a sympathetic attitude to customers in financial difficulty, repossessions fell to their lowest level since 2007. However, [...]
Monthly pay lasting just 17 days
Workers are running out of money just 17 days after receiving their monthly pay, according to new research by the Halifax bank. This means that the average UK worker spends half the month worrying about money. The study, based on the responses of more than 2,000 adults, found that 10 per cent of workers start [...]
Women disadvantaged by auto-enrolment changes
Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]
Emergency household repairs company Homeserve is taking longer than expected to get back on track after its operations were suspended last October. The company expected customer numbers to fall by 5% this year but it has increased this estimate to 8% and announced the loss of 200 jobs. It estimates that renewal revenue in 2013 [...]
Sale rumoured for Yorkshire and Clydesdale banks
There is growing speculation that National Australia Bank (NAB) may sell Yorkshire Bank and Clydesdale Bank after the Australian parent company announced a strategic review of the two banks’ operations. The Australian economy is performing well and NAB reported strong profits for the final quarter of 2011 but with the UK economy at a virtual [...]
More women experiencing debt difficulties
Women in Debt, which offers female-focused debt advice, has warned that the number of UK women facing serious debt has grown significantly over recent years. The organisation believes that more women will need advice on solving debt problems in the future because they are building up an unsustainable level of indebtedness. Women in Debt’s director, [...]
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