UK inflation hits 7%

It’s been a while since the last update due to the long Easter Bank Holiday.

In the last two weeks we’ve not seen much good news on the economic front.  

Around the world inflation has continued to rise, the cost of living has increased and the war in Ukraine has continued to rage on.

In the UK we saw a 0.7% rise in prices now taking inflation to 7%! 

We also saw figures suggesting that this year the UK would have the slowest growth out of the G7.

The Pound/Dollar has continued pushing the 41.30 barrier and at the time of writing has broken it once again. Experts expect it to permanently drop below $1.30 very soon. Against the Euro, the rate has remained relatively stable.

Further afield, the Japanese Yen has been having a pretty bad time. We saw this week it drop to a 20 year low against the dollar.

Europe is on tenterhooks this weekend due to Sunday’s Presidential election in France. Polls show Macron ahead by as many as 10 points, however there are fears in various markets of what a Le Pen win could mean. A Macron win would keep the markets stable, a Le Pen win would see an economic shockwave akin to Brexit take place. 

In some pleasant news to round off the week, David Attenborough was recently named ‘Champion of Earth’ by the UN.

Previous updates...

GDP falls for the second quarter in a row.

GDP falls for the second quarter in a row.

This week has been considerably quieter economic data front, perhaps a relief given the volume of negative news recently. US inflation figures were released on Wednesday with consumer prices rising 8.5% in July, the rate of increase has been calmed slightly as fuel prices fell. No increase was recorded in

BoE Governor: Expect 13%+ Inflation and a Recession!

BoE Governor: Expect 13%+ Inflation and a Recession!

The key update of the week is that the Bank of England has increased its interest rate by 0.5%, the largest increase since the Bank’s operational independence in 1997.  The rate rise comes on the back of a dismal economic forecast by the BoE that forecasted inflation rates of 13%

Fears of recession loom as inflation spirals and confidence declines

Fears of recession loom as inflation spirals and confidence declines

This week has been dominated by the fears of a looming recession following the release of key GDP and confidence data. Significant news was released on Thursday when it emerged that the US economy shrank for a second consecutive quarter. This technical recession is due to a 0.9% GDP contraction

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