The Latest Breaking News from Inflation

The UK’s economy is in the spotlight after the inflation rate rose for a second month in a row and a major retailer closed stores in the wake of the Budget.

The Office for National Statistics said Consumer Prices Index inflation rose to 2.6% in November, from 2.3% the previous month.

The Office for National Statistics has announced the latest monthly Consumer Prices Index reading

Annual increase in November driven by rising cost of petrol and groceries and hike in tobacco duty in budget

Starmer says more to do on economy so growth is ‘felt in the pockets of working people’; US Federal Reserve widely expected to cut interest rates by a quarter point

Stubborn inflation, exorbitant borrowing costs, bankruptcy risks and a growth slowdown: the Russian economy is facing a slew of negative headlines, as the costs of the Ukraine war and Western sanctions mount.

The US Federal Reserve is widely expected to cut interest rates by a quarter point on Wednesday and signal a slower pace of cuts ahead.

Federal Reserve officials on Wednesday will likely signal a slower pace of interest rate cuts next year compared with the past few months, which would mean that Americans might enjoy only slight relief from still-high borrowing costs for mortgages, auto loans and credit cards

After two successive surpluses, the federal budget will be back in deficit in 2024–25, according to the much-anticipated budget update released on Wednesday.

The economy’s rebound won’t be as strong as anticipated and more government rebates seem to be pencilled for the coming year

Budget downgrade blamed on Australian economy being hit harder than anticipated by higher interest rates, cost of living pressures and global uncertainty