Rising Energy Costs Expected to Drive Inflation to an All-Time High in the UK
Video Credit: Wibbitz Top Stories - Duration: 01:31s - Published
Rising Energy Costs Expected to Drive Inflation to an All-Time High in the UK
Rising Energy Costs, Expected to Drive Inflation , to an All-Time High in the UK.
'The Independent' reports that new data from the Office
for National Statistics will paint a clear picture of the , cost of living crisis , experienced by households across the UK.
Officials at the Bank of England
expect inflation to rise
over 10% in 2022.
According to 'The Independent,' forecasts predict 2022
will see the highest one-year increase since the
Consumer Price Index began keeping records in 1998.
April's rise in prices was reportedly
driven by a surge in energy bills, which
went up 54% for an average household.
A survey by consultancy firm McKinsey found that rising inflation was the largest concern felt by respondents in the UK, followed by the war in Ukraine and the COVID pandemic.
A survey by consultancy firm McKinsey found that rising inflation was the largest concern felt by respondents in the UK, followed by the war in Ukraine and the COVID pandemic.
'The Independent' reports that inflation figures
could affect interest rates set by the Bank of England's, Monetary Policy Committee.
If confirmed, this would place huge pressure
on the Bank of England to continue raising
interest rates at upcoming meetings, Matthew Ryan, Analyst at financial services firm Ebury, via 'The Independent'.
Communications from the MPC have
turned increasingly dovish and largely
muddled in recent weeks, although
we think that upcoming inflation prints
will likely force the bank’s hand, Matthew Ryan, Analyst at financial services firm Ebury, via 'The Independent'.
On May 16, the Bank's governor, Andrew Bailey, said that
the high price of global energy and goods will impact
consumer demand and potentially increase unemployment.
On May 16, the Bank's governor, Andrew Bailey, said that
the high price of global energy and goods will impact
consumer demand and potentially increase unemployment.
The main driver of inflation and
what brings it down is the very big,
real income shock which is coming
from outside forces and, particularly,
energy prices and global goods prices, Andrew Bailey, Bank of England Governor,
via 'The Independent'
The Bank of England has cut interest rates to 5% at its August Monetary Policy Committee meeting, the first reduction of the UK’s base rate in four years. Responding to the cut, Chancellor of the Exchequer Rachel Reeves said: “Homeowners will welcome this cut in interest rates, but I know that millions of people are still paying higher mortgage rates after the Conservatives mini-budget. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
One civilian was killed and four others injured in Russian shelling overnight on Ukraine's Sumy region on the border between the two warring countries, the local Ukrainian administration said on Sunday. "During the night and morning, the Russians carried out 18 shelling of border territories and settlements of the Sumy region. 47 explosions were recorded,
#PutinStrike #SumyUnderAttack #UkraineWar #MissileAssault #DroneWarfare #RussianAggression #UkraineDefense #SumyShelling #ZelenskiyResponse #WarTornUkraine #HumanitarianCrisis #EasternUkraineConflict #MissilesAndDrones #RussiaUkraineConflict #GlobalTensions
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The U.S. has made it clear to Kyiv that additional ATACMS missiles are off the table due to severe stock shortages. In a significant setback for Ukraine, Washington's decision to withhold further deliveries of these long-range weapons comes amid ongoing discussions about military aid. The limited availability of ATACMS and the long production timeline have constrained U.S. support, leaving Ukraine's hopes for deep-strike capabilities dashed for now. This development marks a crucial moment in the conflict, impacting Ukraine's strategic options as it continues to face pressure from Russia.
#ATACMS #UkraineAid #ATACMSSupplyUkraine #UkraineATACMSSupply #RussiaUkraineWar #USDefense #MissileSupply #StockShortages #KyivSupport #MilitaryAssistance #WeaponShortages #DefenseNews #Geopolitics #USUkraine #LongRangeMissiles #UkraineCrisis #MilitaryUpdate #DefenseStrategy
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In a dramatic escalation of the ongoing conflict, Ukraine launched an overnight drone attack targeting Moscow and several other Russian regions. Despite the high-profile nature of the attack, officials reported no injuries or significant damage. Moscow’s Mayor Sergei Sobyanin confirmed the destruction of a drone near the capital, while the Bryansk and Kursk regions also reported downed unmanned vehicles. This provocative move signals a new phase in the conflict between Ukraine and Russia. Watch for detailed coverage and analysis of this significant development.
#Ukraine #Moscow #DroneAttack #Russia #Bryansk #Kursk #MilitaryConflict #Geopolitics #InternationalNews #RussiaUkraineWar
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Vučić acknowledged that Serbia had resisted falling in line with the rest of Europe in putting sanctions on Russia but did say Belgrade had repeatedly condemned the invasion of Ukraine.
Credit: euronews (in English) Duration: 01:08Published
Ukrainian President Volodymyr Zelensky is facing intense criticism from within his own ranks following significant battlefield setbacks in both the Donbass and Kursk regions. According to the Financial Times, soldiers, lawmakers, and military analysts are expressing frustration over the rapid advances made by Russian forces, which have reportedly exploited weaknesses in Ukraine’s defense strategy. The situation has deteriorated as Russian troops have breached Ukrainian lines in the Donetsk People’s Republic (DPR), closing in on the strategically crucial city of Pokrovsk. This city’s loss would have severe implications for Ukrainian military logistics, with analysts describing the current defensive situation as a “complete failure” and “complete chaos.”
#ZelenskyUnderFire #UkrainianForces #KurskCrisis #DonbassConflict #RussianGains #MilitarySetbacks #UkraineStruggles #BattlefieldCriticism #FrontlineFail #PokrovskPressure #ZelenskyLeadership #UkrainianDefense #RussianAdvances #MilitaryAnalysis #ConflictUpdate
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The latest update from the World Health Organization (WHO) showed that between June 24 and July 21, an average of 17,358 Covid specimens were tested for.. DNA
Mark Zuckerberg has claimed that senior officials within the Biden administration "repeatedly pressured" Meta to "censor" COVID-related content during the.. Sky News
Former Indian Foreign Secretary and ex-Ambassador to Bangladesh, Harsh Vardhan Shringla, has analysed the ongoing crisis in Bangladesh, attributing it to a mix of economic hardship, political opportunism, and possible foreign interference. Shringla emphasised that while the protests ostensibly stem from issues like job quotas, deeper economic problems—including the impact of COVID-19 and the Ukraine conflict—have exacerbated the situation. He suggested that political groups like the BNP and Jamaat-e-Islami, as well as foreign actors, may be fueling the unrest to their advantage, contributing to the volatility in Bangladesh.
#bangladeshprotests #SheikhMujiburRahmanStatue #MujiburRahmanStatueVandalised #bangladeshnews #sheikhhasina #bangladeshnewsupdate #studentprotest #bangladeshantigovtprotests #bangladeshjobquotaprotest #bangladeshreservation #latestnews #breakingnews
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In a recent Economic Survey 2023-24 presented by Finance Minister Nirmala Sitharaman, the Indian economy is reported to be on a strong footing, showcasing remarkable resilience in the face of geopolitical challenges. This 476-page document highlights the consolidation of post-Covid recovery and the stability maintained by fiscal and monetary policies. Despite global volatility, India's economic growth continues to expand. Watch the full analysis and key insights from the Economic Survey 2023-24.
#IndianEconomy #EconomicSurvey #FinanceMinister #NirmalaSitharaman #EconomicGrowth #GlobalChallenges #EconomicStability #PostCovidRecovery #India2024
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Inflation Remains at 40-Year High , But Appears to Be Slowing .
In April, the Federal Reserve's preferred inflation gauge rose 4.9% from the same time in 2021.
In April, the Federal Reserve's..
Credit: Wibbitz Top Stories Duration: 01:31Published
Stocks Continue to Slip , on Wall Street, , Edging Closer to Bear Market.
On May 19, Wall Street saw stocks fall
in early morning trading, worsening
a slump experienced by major indexes.
On May 19,..
Credit: Wibbitz Top Stories Duration: 01:30Published
Determine Your , Personal Inflation Rate, to Help Navigate Rising Prices.
NBC reports that the , Consumer Price Index , fell for the first time in eight months in April.
The Consumer Price Index..
Credit: Wibbitz Top Stories Duration: 01:31Published
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