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The average UK household can expect a yearly increase of nearly £270 to household bills, latest figures show, as 2025 looks set to be difficult year for personal finances. Kicking off with the 1 ...
It forecast food price inflation would rise from 1.8% last month to 4.2% in the latter half of this year, and that price rises will continue for vegetable oil, orange juice, butter, and coffee ...
Economic growth of 1.8% was predicted for 2024, rising to 2.5% in 2025 then falling slightly to 2.1% in 2026. The UK's rate of inflation was predicted to fall to 2.9% by the end of 2023, down from 10.7% in the final three months of 2022, while underlying debt was forecast to be 92.4% of GDP in 2023, rising to 93.7% in 2024.
The rate of consumer price index (CPI) inflation rose to 2.6 per cent in November, its highest level since March and the second monthly increase, while the Bank of England held interest rates at 4 ...
Economic growth was forecast to be 2% for 2026, 1.8% for 2027 and 1.7% for 2028, while the UK's rate of inflation was estimated to fall below the Bank of England's 2% target by the end of June 2024, and would then fall to 1.5% in 2025. Public debt, excluding Bank of England debt, was forecast to be 91.7% of GDP in 2024, rising to 92.8% in 2025 ...
Inflation risks in 2025 are very real, especially if the Federal Reserve runs the risk of cutting interest rates by too large an amount. Combined with potential tariffs and factors, such as mass ...
Moreover, the OBR indicated that higher inflation would mean that in real terms, the value of departmental budgets would be £19bn lower by 2027–28 compared with its March 2023 forecasts. The UK's underlying debt was forecast to be at 91.6% of GDP in 2023–24, 92.7% in 2024–25, and 93.2% in 2026–27, before falling to 92.8% in 2028–29.
The rate of price rises in the UK is likely to have increased last month, as a hike in tobacco duty and petrol costs drove inflation higher. The Office for National Statistics (ONS) will announce ...