Statistics from the Department of Energy and Climate Change (DECC) have revealed fuel poverty continues to soar amid higher energy prices. Anyone spending over 10% of their household income on heating their homes are said to be in fuel poverty. Figures from the Department showed that the number of households in fuel poverty in 2003 [...]
India’s wholesale price index, the country’s main inflation rate, eased last month to an annual 8.66% from March’s figure of 9.04%. However, the figure was still above the 8.48% expected by analysts and comes as fuel and food prices continue to rise. The food price index increased 8.71%, while the fuel price index rose 13.32% [...]
Consumer confidence in Germany, which is the euro zone’s largest economy, is expected to fall further in May, according to the GfK research group. The market research company said its forward looking consumer sentiment index, based on a survey of about 2,000 people, will fall to 5.7 in May from April’s reading of 5.9. The [...]
US consumer confidence fell in March after higher energy prices fuelled fears of inflation and consumers were hit by falling income expectations. The reading from the closely-monitored Consumer Confidence Index from the Conference Board dived to 63.4 in March from February’s three-year high of 72.0. The reading was below expectations of a fall to 65.0 [...]
Official data from the Labor Department has today revealed that US consumer prices fell for the third consecutive month in June, by 0.1% on a monthly basis. The fall was attributed to declines in energy prices, which were down 2.9%, food prices remained flat. The fall in June followed declines of 0.1% and 0.2% in [...]
The Russian economy, which is heavily dependant on oil exports, is forecasted to contract by 7.5% in 2009, according to President Dmitry Medvedev. The latest official figures suggest that the Russian economy declined 10.2% in the year to August, compared with the same period a year earlier. The economy has been hit hard by the [...]
EDF this week relaunched its Energy Online v5 deal and claims to be it the cheapest energy supplier in the UK for average consumption households. The tariff undercuts British Gas by £35 per year according to price comparison site uSwitch.com. EDF guarantees the v5 package will remain at least 2% cheaper than equivalent tariffs with [...]
Figures released by the US Labor Department revealed a slight rise in US consumer prices as energy prices increased. According to the Labor Department, the Consumer Price Index rose 0.3% - the first rise in six months, following a fall of 0.8% in December. The rise is seen as positive by many analysts who have [...]
Pensioners face inflation rates 80% higher than for the average consumer because their budget only stretches to buy essentials, new research has discovered. Inflation dropped in January to 3% for the average consumer. Over 75s, meanwhile, faced inflation rates of 5.4%, according to research by the Alliance Trust. Younger generations spend more money on consumer [...]
Rics: Housing market remains in the doldrums
The Royal Institution of Chartered Surveyors (Rics) has today reported that the UK housing market remained weak in August with house prices falling further. According to the Institution, homeowners remain reluctant to put their properties up for sale, while buyers continue to struggle to secure a mortgage and remain uncertain about the economic climate. The [...]
CML: Mortgage lending edges higher in July
The Council of Mortgage Lenders (CML) has reported the number of loans for house purchase rose in July. According to the Council, there were 48,400 loans advanced for house purchase in the month – up by 1,000 from June’s figure but almost 7,000 lower when compared with July 2010. Commenting on today’s figures, Paul Smee, [...]
UK inflation edges higher in August
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% [...]
Fresnillo down on silver prices
European equities markets were lower Monday on the possibility that Greece could default soon and on speculation that Moody’s Investors Service could cut its rating on several big banks with holdings tied to Greece. The FTSE 100 was down 1.63 percent to 5,129.62 in London, while the FTSE 250 dropped 1.65 percent to 9,983.75 as [...]
IFS warns of tough times for UK households
A report by the Institute for Fiscal Studies (IFS) has warned that households will be squeezed for the next decade as they suffer from the harsh spending cuts introduced by the Government. It said households are suffering one of the worst attacks on their finances since the Second World War and that the impact of [...]
ICB final report recommends ring-fencing
The Independent Commission on Banking’s (ICB) final report has been published today and is recommending that UK banks should ring-fence their retail banking operations. According to the report, ring-fencing would protect banks from riskier investment banking divisions and would “make it easier and less costly to resolve banks that get into trouble”. The ICB, which [...]
Tullow Oil leads 100 in London
European equities markets were significantly lower Friday on an increased possibility that Greece could default on its debt as soon as this weekend, raising the concern level over the European region’s debt problems and ratcheting up worries that the economic recovery is faltering. Additionally, markets reacted to the resignation of European Central Bank board member [...]
SMMT: UK car sales rise in August
The Society of Motor Manufacturers and Traders (SMMT) have revealed UK car sales saw their first rise in 14 months in August. According to the trade body, car sales rose by 7.3% in August compared with the same month in 2010, with sales of smaller cars rising by more than 30%. The Ford Fiesta remained [...]
Factory gate inflation higher than expected in August
The Office for National Statistics (ONS) has today revealed UK producer output prices held steady in August – remaining at the highest annual rate since October 2008. According to the ONS, output prices (factory gate) annual inflation for all manufactured products held steady at July’s upwardly revised reading of 6.1% in August. The figures were [...]
US exports surge, Obama unveils jobs plan
The Commerce Department has revealed US exports hit an all-time high in July, while imports fell. According to official figures, exports surged 3.8% to $178 billion (£111 billion) after two months of declines. The rise in exports was attributed to strong overseas sales of manufactured goods, particularly to countries in Central and South America. Meanwhile, [...]
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