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Ministers And The Bank Of England Are Facing Fury At The Lack Of A Plan To Ease The Cost-of-living nightmare Today As I (view source)
Revision as of 12:59, 3 December 2022
, 12:59, 3 December 2022Created page with "Ministers and the Bank of England are facing fury at the lack of a plan to ease the cost-of-living 'nightmare' today as i soared to another 40-year high.<br>The headline rate..."
Ministers and the Bank of England are facing fury at the lack of a plan to ease the cost-of-living 'nightmare' today as i soared to another 40-year high.<br>The headline rate reached 10.1 per cent in July - well above analysts' predictions of 9.8 per cent.<br><br>It was up from 9.4 per cent the previous month, driven largely by fuel and food prices. <br>It is a peak since February 1982, when the measure was estimated to have been 10.4 per cent.<br>But even that mark could be smashed later in the year, when the expects the level to top 13 per cent.<br>The latest increase - together with relatively robust jobs market figures yesterday - will reinforce speculation that the Bank will hike interest rates again next month.<br>That could help rein in rampant prices, but would also heap more pain on Britons, as wages lag far behind.<br>Meanwhile, holidaying Boris Johnson has been accused of being on 'shore leave' by business chiefs, who raised alarm that there is 'no captain' in Downing Street to deal with the problems. <br>His would-be successors have been trading blows as they battle for the keys to No10.<br><br>Former Cabinet minister Sajid Javid said would-be PM Liz Truss is the 'right person' to tackle the crisis.<br>But Rishi Sunak condemned her proposals as a 'moral failure' to support the most vulnerable families. <br>Chancellor Nadhim Zahawi admitted that 'times are tough' but warned there are 'no easy solutions' and [https://healthtopical.com/fresh-stretch-marks-removal/ https://healthtopical.com/fresh-stretch-marks-removal/] getting inflation under control is his 'top priority'. <br> The headline CPI rate reached 10.1 per cent in July - well above analysts' predictions of 9.8 per cent.<br><br>It was up from 9.4 per cent the previous month<br> Fuel costs have been surging adding to the upward pressure on inflation <br> RELATED ARTICLES <br><br><br><br>Share this article<br>Share<br><br><br><div class="art-ins mol-factbox floatRHS news" data-version="2" id="mol-f7bc4350-1e0a-11ed-8fa7-899b0abe14be" website surges to another 40-year high of 10.1%