U.K. Inflation Hits 30-Year High, Prompting Expectations of Rise in Interest Rates

France Nouvelles Nouvelles

U.K. Inflation Hits 30-Year High, Prompting Expectations of Rise in Interest Rates
France Dernières Nouvelles,France Actualités
  • 📰 WSJ
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 63%

Consumer prices in the U.K. increased 5.4% in December compared with a year earlier, strengthening the case for further interest-rate rises as the country’s economy emerges from the Omicron wave

LONDON—Consumer prices in the U.K. rose at the fastest annual rate in nearly three decades last month, strengthening the case for further increases in the Bank of England’s key interest rate as the country’s economy emerges from the Omicron wave.since the start of the pandemic, as the U.K. battles a rise in prices due to supply-chain snarls and higher energy prices.

Consumer prices in the U.K. rose 5.4% in December compared with a year earlier, the Office for National Statistics said Wednesday—the biggest annual jump since March 1992. Economists polled by The Wall Street Journal had expected prices to rise by an annual 5.2%, following a 5.1% increase in November.

After that, economists are expecting inflation to fall back as the global economy recovers and supply-chain kinks work themselves out. “Today’s numbers coupled with strong labour market data suggest that a bank rate rise on 3 February is virtually nailed on,” said Philip Shaw, chief economist at Investec Securities, predicting an increase of 0.25 percentage point.What is your outlook on the British economy for the next quarter? Join the conversation below.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

WSJ /  🏆 98. in US

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Explainer: UK inflation nears 30-year high, but how fast will it fall back?Explainer: UK inflation nears 30-year high, but how fast will it fall back?British consumer price inflation looks set to hit a 30-year high of 6% or more in April, but the big question for the Bank of England and the wider public is how quickly it will then fall back.
Lire la suite »

Global stocks advance with U.S. exchanges shut as traders wait for earnings reportsGlobal stocks advance with U.S. exchanges shut as traders wait for earnings reportsGlobal stocks rose and U.S. futures were steady Monday, as investors focused on upcoming corporate earnings and rising interest rates with U.S. exchanges...
Lire la suite »

Fed to hike interest rates each quarter this year – RabobankFed to hike interest rates each quarter this year – RabobankRecent testimony, speeches and interviews have made it clear that the Federal Reserve “is gung ho and ready to start hiking in March”, explained analy
Lire la suite »

5 Popular Fast-Food Value Deals Changing Amid Inflation — Eat This Not That5 Popular Fast-Food Value Deals Changing Amid Inflation — Eat This Not ThatFood prices are soaring to new heights with inflation that is increasing at a rate...
Lire la suite »

EUR/USD to bottom at 1.08 by the end of this year – NordeaEUR/USD to bottom at 1.08 by the end of this year – NordeaIn response to rampaging US inflation, economists at Nordea now expect the Federal Reserve to hike rates four times this year followed by another four
Lire la suite »

Holidays sales hit record $886.7 billion, says National Retail FederationHolidays sales hit record $886.7 billion, says National Retail FederationNational holiday sales hit a record despite supply-chain problems, inflation, COVID-19 and other detractors.
Lire la suite »



Render Time: 2025-03-19 11:21:09