What does the interest rate rise mean for the UK economy, house prices and savings?
The Bank of England has raised the base rate to 1 per cent to address high inflation.
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.
Everything wrong with this minister’s tip for cutting costs
George Eustice suggested struggling Britons buy basics range supermarket food.
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Inflation is eating away at Britain’s schools and hospitals
Rising prices are hitting the most important workers the hardest.
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The UK’s living standards crisis is intensifying
As inflation hits 7 per cent, real wages are falling at the fastest rate since 2013.
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Why household debt is surging and what that means for the economy
With wages failing to keep up with soaring prices, households are turning to short-term borrowing, which increases the risk of…
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With trade unions gutted, workers have no protection against soaring inflation
It was ludicrous for the Bank of England governor, Andrew Bailey, to suggest that people are in a meaningful position…
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How inflation is surging ahead of benefits
Prices are set to rise by 7.4 per cent this year but Universal Credit will rise by just 3.1 per…
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Personal inflation calculator: how do you compare to the rest of Britain?
Our calculator shows how you could be affected by surging prices in the UK.
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Rishi Sunak’s expectation management
Ahead of the spring statement, a Chancellor desperate to return to small-state conservatism is playing down his ability to address…
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The war in Ukraine will deepen the UK’s cost-of-living crisis
Gas, petrol and food prices will squeeze households even further after Russia’s invasion of Ukraine.
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The age of plutocracy
In an exclusive extract from her new book, the New Statesman columnist explains how Western democracies were captured by the…
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Why we should stop calling it the “cost-of-living crisis”
This clunky, recycled phrase suggests there’s nothing the government can do to help.
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Boris Johnson’s promise of “a high-wage economy” has become a cruel joke
Far from encouraging workers to seek higher pay, the government is now telling them to accept lower pay.
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The battle for Britain’s vanishing food markets intensifies as the cost of living soars
As the cost of basic food rises in 2022, traditional “bread and butter” markets are in decline.
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Lionel Barber’s Diary: Boris Johnson’s new leaf, inflation fears, and being headhunted by Ofcom
We are led to believe the Prime Minister is about to drop the habits of a lifetime, but the changes…
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Why inflation and the cost-of-living crisis won’t take us back to the 1970s
Surging energy prices force us to confront the suffering caused by inflation and our uncertain future. But a new wage-price…
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Why the Bank of England doesn’t want you to get a pay rise
The fact that Andrew Bailey is prepared to warn against pay rises is a sign of how worrying inflation has…
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Rishi Sunak’s help comes far too late for Britain’s fuel poor
Ahead of the energy price cap rising, people and businesses are already struggling to keep the lights on.
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Who will Scottish voters blame for falling living standards?
The surge in inflation is a threat to both the SNP and the Conservatives.
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How inflation has surged to its highest level since 1992
The cost of living in the UK rose by 5.4 per cent in the year to December 2021.
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