Its new rate – which will hugely influence interest rates across the economy – will be announced tomorrow at midday. The largest upward contributions to the annual CPIH inflation rate came from housing and household services (principally from electricity, gas, and other fuels), and food and non-alcoholic beverages. Inflation – as measured by the Consumer Price Index (CPI) – rose from 10.1% to 10.4% year-on-year in February, according to figures out today from the Office for National Statistics ,crypto sports betting sites, (ONS), writes Kevin Pratt. Recent developments are likely to result in tighter credit conditions for households and businesses and to weigh on economic activity, hiring, and site inflation. However, the news from the US, combined with yesterday’s shock increase in annual UK inflation, from 10.1% to 10.4%, makes a rise of at least 0.25 percentage points to 4.25% almost certain. In contrast, today’s rate increase could generate mixed feelings among the UK’s savers seeking better returns.
The Fed’s stated objective is to achieve maximum employment and inflation at the rate of 2% over the long run – the same rate as the Bank of England. The 0.1 percentage point dip was half the figure predicted by forecasters. September’s CPI reading is important because it is one of the three measures used by the government – alongside wage growth and a minimum uplift rate of 2.5% – to determine the pension triple lock guarantee. UK inflation has burst through the double figure mark once again with a reading of 10.1% in the year to September 2022, 100% free porn according to the Office for National Statistics (ONS), writes Andrew Michael. The EBSS will see £400 taken off every households’ electricity bills, spread over the six months from October 2022 to March 2023. The ONS announced in August that the £400 discount on domestic energy bills under the Energy Bills Support Scheme (EBSS) would be treated as increasing household income, rather than reducing expenditure.
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