News Worms
News Worms


United Kingdom inflation rate rises to 2.9%

United Kingdom inflation rate rises to 2.9%

Peter Dowd, Labour's shadow chief secretary to the Treasury, said: "The continued rise in inflation will come as further bad news for working families; who after 7 years of Tory economic failure have seen their wages fail to keep up with prices".

India's Consumer Price Inflation rose to 3.36% in August, as against 2.36% in July 2017, data released by the Central Statistics Office showed on Tuesday.

But a rebound in the price of oil also had an impact, pushing up fuel prices. "Economists have suggested that now is finally the time that the Bank takes a more hawkish turn, after eight and a half years of ultra-loose policy", said Maike Currie, investment director for personal investing at Fidelity International.

The latest data beat expectations of a gain to 2.8 percent, according to analysts' consensus forecast.

Inflation rose in both Britain and the EU overall, with increasing global commodity prices thought to be partly responsible, although the United Kingdom rate is higher than in all the larger western European nations.

"Indeed it's possible that 2.9 per cent will be the highest we see in the current cycle". Mark Carney will certainly be hoping so, as it will save him the trouble of writing to the Chancellor to explain himself.

The bigger-than-expected rise in inflation comes ahead of the Bank of England's next announcement on interest rates, which is due on Thursday. Headline inflationary pressure should begin to moderate in 2018 as the large moves in the pound drop out of the reported numbers.

Output prices climbed 3.4 percent yearly, faster than the 3.2 percent increase in July.

"Over the long term, inflation is rarely a country-specific phenomenon, especially for developed, open, market economies".

follow

editors' picks

September 13, 2017
Hope Hicks Appointed White House Communications Director
She became the interim communications director after Anthony Scaramucci was ousted from the job in July. Scaramucci, who took the position in July, was sacked less than two weeks later.

September 12, 2017
Analyst Buzz: Teva Pharmaceutical Industries Limited (TEVA)
Teva's situation worsened in the months since, as the company lowered its profit guidance and slashed its dividend. The business had revenue of $5.69 billion for the quarter, compared to analysts' expectations of $5.72 billion.

September 12, 2017
Nintendo president says you shouldn't overpay for an SNES Classic Edition
However, given that's never been the company's style, and we can expect more shortages throughout the holiday season. Speaking of the upcoming Retro console, Nintendo has revealed that SNES Classic is a form of a virtual console .

September 12, 2017
Stocks climb as concerns ease over North Korea, Irma
Royal Caribbean Cruises jumped $4.02, or 3.4 percent, to $121.47 and American Airlines gained $1.55, or 3.4 percent, to $45.15. USA crude was trading 36 cents firmer at 47.84 dollars a barrel, while Brent rose 22 cents to 56.00 dollars.

September 12, 2017
Can analysts adopt a bullish outlook for Fresnillo Plc (LON:FRES)?
RBC Capital Markets maintained RSA Insurance Group plc (LON:RSA) on Tuesday, July 28 with "Sector Perform" rating. Aviva Pcl holds 0.14% or 104,562 shares in its portfolio. 148,200 were accumulated by Qs Investors Ltd Com.

September 12, 2017
Myanmar accused of laying mines, causing Rohingya injuries
The foreign secretary, however, said both China and India are with Bangladesh during this crisis period, as they have always been. They said they were unable to provide assistance to those entering Bangladesh from the many unmonitored points of entry.

September 12, 2017
Patty Jenkins to Direct 'Wonder Woman' Sequel
Jenkins had already begun work on the script for a sequel before the official announcement that she would be directing it. Which would make Jenkins the highest-paid female filmmaker in history.

September 12, 2017
China eyes petrol auto ban, boosting electric vehicles
China is looking to join the growing number of countries setting bans in place for vehicles that run on fossil fuels. Analysts are unanimous on the impact of such bans on the pricing and relevance of oil in the nearest decade.

September 12, 2017
Janet Jackson Returns With Political Message On "State Of The World" Tour
However, she doesn't specifically name him in her emotional rendition. Jackson has been making the most of her time in Houston .

September 12, 2017
Lady Gaga Reveals Heartbreaking Reason She Split from Taylor Kinney
Gaga said she tries to channel her pain into something positive for her and for viewers of her documentary. I look forward to reflect, slow down a moment and heal, because this is very important, " she said.