News | Latest Breaking News Stories & Headlines

a cash register with sterling coins and notes in it

UK inflation falls to 3.2% before Bank of England meeting

British inflation fell much more sharply than forecast in November to 3.2%, its lowest since March, from 3.6% in October, official data showed today, cementing market expectations that the Bank of England will cut interest rates tomorrow.

Business • 17 Dec

UK jobless rate rises to 5.1% as wage growth slips back

Britain's unemployment rate rose to its highest level for nearly five years and wage growth slipped back further, with young people in particular suffering amid a tough jobs market, official figures show today.

Business • 16 Dec

Bank of England heads for close vote on likely rate cut

The Bank of England looks set for a knife-edge vote on interest rates this week with Governor Andrew Bailey expected to change his view and tip the balance for a cut.

Business • 15 Dec

No interest rate changes from Bank of England

The Bank of England kept borrowing costs on hold today but a narrow vote and signs that Governor Andrew Bailey might soon join those seeking a rate cut keeps the door open for a move after the government's budget later this month.

Business • 07 Nov

Bank of England set to keep UK rates on hold at 4%

UK interest rates are widely expected to be kept at 4% but Bank of England policymakers are "deeply divided" about the threat of inflation, economists say.

Business • 05 Nov

UK inflation unexpectedly holds at 3.8% in boost for BoE

British inflation and a key underlying measure of price growth both unexpectedly held steady in September, offering some relief to finance minister Rachel Reeves ahead of her November budget.

Business • 22 Oct

a pile of 20 and 50 pound sterling notes

Food prices drive British inflation to 3.8% in August

British inflation in August held at 3.8%, official data showed today, the highest among major advanced economies and reinforcing expectations that the Bank of England will not cut interest rates until next year.

Business • 17 Sep

UK inflation rises to 3.8% in July, ONS says

British inflation hit its highest in 18 months in July when it increased to 3.8% from 3.6% in June, official data showed today, once again leaving the country with the biggest price growth problem amongst the world's big rich economies.

Business • 20 Aug

UK inflation rises to highest level since January 2024

Britain's annual rate of consumer price inflation unexpectedly rose to its highest in over a year at 3.6% in June, potentially making it a tougher call for the Bank of England to cut interest rates next month.

Business • 16 Jul

UK inflation slows in May but food prices jump - ONS

British inflation slowed as expected in May, pulled down by air fares which leapt in April and the correction of a tax data error, although food prices shot up at the fastest rate in more than a year.

Business • 18 Jun

UK inflation jumped to a higher-than-expected annual rate of 3.5% in April from 2.6% in March

UK inflation jumps to higher-than-expected 3.5%, ONS says

Britain suffered a bigger-than-expected inflation surge in April, including in areas watched closely by the Bank of England which investors now believe will have to slow its already gradual pace of interest rate cuts.

Business • 21 May

Despite a slowdown in price growth from levels above 11% in 2022, UK inflation continues to be a concern for consumers

UK inflation slows to 2.6% in March, ONS says

British inflation slowed to its weakest in three months in March and other measures watched by the Bank of England cooled too, but higher bills and employer costs will pressure prices soon against the backdrop of US President Donald Trump's trade war.

Business • 16 Apr

UK inflation slowed to an annual rate of 2.8% in February from 3% in January, new figures show today

UK inflation cools more than expected in February - ONS

British inflation slowed more than expected in February, bringing some relief to consumers ahead of a likely new pick-up in price growth and to finance minister Rachel Reeves before her budget update speech later today.

Business • 26 Mar

British inflation sped up to an annual rate of 3% in January from 2.5% in December

UK inflation increases to 3% in January - ONS

British inflation sped up by more than expected to hit a 10-month high of 3.0% in January and is likely to rise further soon, testing the Bank of England's confidence that price pressures will ease over the longer term.

Business • 19 Feb

The UK annual inflation rate fell to 2.5% last month, new figues show today

UK annual inflation dips to 2.5% in December

British inflation unexpectedly slowed last month and core measures of price growth - tracked by the Bank of England - fell more sharply, according to data that will be welcomed by finance minister Rachel Reeves after recent a market selloff.

Business • 15 Jan

UK consumer prices rose by an annual 2.6% in November, up from an increase of 2.3% in October and moving further away from September's 1.7% rise, new figures show today

UK inflation hits 2.6% in November - ONS

British inflation rose to its highest in eight months in November but an underlying measure of price growth watched closely by the Bank of England held steady, offering the central bank a little bit of relief.

Business • 18 Dec 24

A rise in UK regulated domestic energy prices added to overall price growth in October, new figures show today

UK inflation up more than expected to 2.3% in October

British inflation rose to an annual rate of 2.3% in October from 1.7% in September, official figures showed today.

Business • 20 Nov 24

British inflation fell to an annual rate of 1.7% in September from 2.2% in August, new figures show today

UK inflation falls more than expected to 1.7%

British inflation dropped sharply in September and key price gauges watched by the Bank of England also fell, bolstering bets on an interest rate cut next month and helping finance minister Rachel Reeves before her first budget.

Business • 16 Oct 24

Bank of England Governor Andrew Bailey said he was 'very encouraged' by the downward path of UK inflation

BoE's Bailey says interest rates gradually heading down

The Bank of England should be able to lower interest rates gradually as it gains confidence that inflation will remain close to its 2% target, Governor Andrew Bailey said in an interview published today.

Business • 24 Sep 24

British inflation stood at an annual rate of 2.2% in August, unchanged from July, new figures show today

UK inflation holds at 2.2% as BoE considers rates

British inflation held steady in August but rose in the services sector which is closely watched by the Bank of England, data showed today, adding to bets in financial markets that the central bank will keep interest rates on hold tomorrow.

Business • 18 Sep 24

UK inflation had hit 2% in May - the first time it had hit the Bank of England's target in nearly three years

UK inflation holds at 2% amid underlying price pressures

British inflation held at 2% last month, defying forecasts for a slight fall, and underlying price pressures persisted, maintaining uncertainty about the date of the Bank of England's first interest rate cut since 2020.

Business • 17 Jul 24

UK inflation returned to its 2% target in May for the first time in nearly three years

UK inflation returns to target for first time since 2021

British inflation returned to its 2% target in May for the first time in nearly three years, official figures showed today, as the economic effect of the Covid-19 pandemic and Russia's full-scale invasion of Ukraine faded.

Business • 19 Jun 24

UK consumer prices rose by an annual 2.3%, down from a 3.2% increase in March and its lowest since July 2021 when it stood at 2%

UK inflation falls less than expected, dashing rate hopes

Inflation in Britain fell by less than expected in April and a key core measure barely dropped, prompting investors to pull bets on a rate cut next month which could have boosted embattled Prime Minister Rishi Sunak before an election this year.

Business • 22 May 24

UK inflation slowed by less than expected to 3.2% in annual terms in March, down from a 3.4% increase in February

UK inflation rate slows to 3.2% in March

British consumer price inflation slowed by less than expected to a two-and-a-half-year low of 3.2% in annual terms in March, down from a 3.4% increase in February, the Office for National Statistics said today.

Business • 17 Apr 24

UK consumer prices rose by a slightly weaker-than-expected 3.4% in annual terms in February

UK inflation fall paves way for Bank of England rate cuts

British consumer prices rose by a slightly weaker-than-expected 3.4% in annual terms in February, slowing from a 4% increase in January, the Office for National Statistics said today.

Business • 20 Mar 24

Uk Inflation