The Bank of England is facing renewed criticism after making a wildly wrong inflation prediction last month. In its quarterly report after deciding to stick with the current high-interest rate level, the bank said it expected inflation to fall to 4.5 percent
The cost of a traditional Christmas dinner for four people is up by just 1.3% on last year – well below overall grocery price inflation, research has revealed. That means an increase of 41p, making a turkey and all the trimmings cost
Turkey’s inflation rate has continued to increase with figures released on December 4 indicating that the country’s economy is still stabilising after a series of significant interest rate hikes. The rate rose from 61.36 percent in October to 61.98 percent last month,
Food bills are up by £605 compared with two years ago – and climate change is behind the rise. Extreme weather led to a hike in costs, which in turn has kept food inflation high, even as energy prices decreased. Flooding here
Turkey’s central bank delivered another huge interest rate hike on Thursday as it tries to curb double-digit inflation that has left households struggling to afford food and other basic goods. The bank pushed its policy rate up by 5 percentage points, to
Climate change policies are increasingly likely to have an impact on inflation over the next two to three years, a top Bank of England policymaker has warned. Climate change and countries’ different approaches to combat it are likely to boost inflation and
Supermarkets could be heading for a Christmas price war (Image: Getty) In September, the rate stayed at 6.7%, the same as in August, said the Office for National Statistics. But experts are predicting inflation will drop next month. Helen Morrissey, head of
Russia’s Central Bank on Friday raised its key lending rate for the fourth time in half a year in an effort to bring down surging inflation. The bank raised the rate to 15%, up 200 basis points. The interest rate in the
Bank of England Governor Andrew Bailey has been warned not to increase interest rates despite “disappointing” data revealing inflation failed to fall in September in line with expectations. Julian Jessop, Economics Fellow at the free market think tank, the Institute of Economic
Poland’s central bank lowered its key interest rate Wednesday, pointing to a drop in inflation despite a still-high rate of 8.2% last month, raising concerns about the cut being a political move. The National Bank of Poland cut its benchmark rate a