The business forecast for 2023: An inflation rollercoaster and Elon Musk’s Twitter break-up
Predictions for a bumpy year ahead from the New Statesman’s business editor.
ByInflation
Inflation describes how much prices of goods and services are increasing (if they’re decreasing, this is known as deflation). In the UK the main measure of inflation is the Consumer Prices Index. The Office for National Statistics tracks the cost of living through the prices of items in a hypothetical “basket of goods” that includes everyday products and services. Here you can find all of our latest news, analysis and comment about inflation.
Cheap energy bills aren’t coming back this decade
Forecasts suggest volatile prices and the UK’s poor gas storage infrastructure mean costs will remain high until after 2030.
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The cost of dying: “pauper’s funerals” have doubled since 2019
Exclusive figures reveal how more people are turning to public health funerals in poor parts of Britain.
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Why Jeremy Hunt is gambling with thousands of small businesses
The government’s Energy Bill Discount Scheme could force thousands of small firms out of business.
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People with dementia cut vital care to cope with inflation
Means-testing leaves people paying for their own care, exposed to rising fees and energy bills.
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What would happen if everyone knew your salary?
Pay transparency could help to increase productivity and fight inflation.
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Britain has never faced decline like this before
The difference with past periods of economic woe is how meekly the political class is accepting the UK’s fate.
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Rishi Sunak’s New Year speech showed how out of his depth he is
Has the Prime Minister given up, or did he not have any ambition to begin with?
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Why does nothing work in the UK anymore?
From GP appointments to trains, everything feels broken.
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Strikes show how the dream of a high-wage economy died
The Conservatives have given up trying to reset what Boris Johnson described as a “broken model”.
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Rishi Sunak needs to offer striking workers a better deal
It is not the strikes that should worry ministers most, it is that important public sector posts will be left…
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Why is the Bank of England raising interest rates when inflation has peaked?
The Bank has to account for the long-term effects not only of its own decisions, but also of government policy.
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Nurses’ pay is lower in real terms than in 2010
As strikes approach, nurses’ pay is 2 per cent less than it was 12 years ago after accounting for inflation.
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What’s worse, inflation or a recession?
We might have to pick our poison.
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How much does it cost to watch a game of football?
Is it cheaper to watch matches at home or the pub? The football cost-of-living crisis – in numbers.
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What if inflation falls in the wrong way?
Bond markets have suggested US inflation could fall by the most since 2008 next year – which could be catastrophic…
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Public sector pay is worth less than at any time since 2004
Inflation and pay freezes mean average public sector pay has fallen by 5.6 per cent since 2010.
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The death of the round
Inflation is killing the camaraderie that came with reciprocal beers.
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We have not “run out of money” to pay strikers
The government’s dodging the crux of the matter: the public sector is expected to provide more for less.
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Rishi Sunak can’t blame financial markets for his spending cuts
Investors panicked by the reckless mini-Budget won’t be happy when the Autumn Statement’s austerity weakens growth either.
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