Bank of England says inflation has ‘turned corner’ despite soaring food prices
by The Guardian
The Guardian— Governor optimistic over economic recovery but concedes Bank has ‘lessons to learn’ after forecast errorsFrom CPI to stagflation: how the UK tracks price rises and what key inflation terms meanThe Bank of England governor has insisted that inflation has “turned the corner”, despite the UK being hit with the fastest annual growth in food prices since the 1970s amid the cost of living crisis.Andrew Bailey said annual inflation was on track to fall sharply in the face of a recent drop in wholesale...
The Guardian—UK growth forecast upgraded by IMF; Bank of England governor says inflation has ‘turned the corner’ – business live. New IMF report shows “a big upgrade to the UK’s growth forecast” says Jeremy Hunt, with UK expected to grow by 0.4% this year not shrink by 0.3%Shares in Pennon Group, which owns South West Water, have dropped over 2.5% this morning after regulators launched an enforcement probe into water leakage.Pennon told shareholders that Ofwat have announced an investigation into South West Water’s 2021/22 operational performance data relating to leakage and per capita consumption.This operational...
CNBC—Bank of England governor says the UK is facing a wage-price spiral. Andrew Bailey said second-round effects of wage growth and price setting were "unlikely to go away as quickly as they appeared."
@cityam—House prices surge at fastest pace this year to record £373k despite Bank of England rate hikes. Britain avoiding a much-forecasted recession has helped push house prices up by the greatest amount so far this year to a record high of £372,894, new figures out today reveal. The average price of a home coming to market climbed 1.8 per cent over the last month, the strongest increase in 2023, according to property []