Tue, 21-Oct-2025

Inflation hits 40-year high of 9%

Inflation reaches its highest level in 40 years as the cost of living problem worsens. Last month, the rate jumped to 9%, the highest level since similar figures from 1982. The Office for National Statistics (ONS) reported a broad-based increase in prices for ordinary goods and services in April. There was an unprecedented 54 percent … Read more

Bank of England hikes interest rate to fight hot inflation

UK inflation spikes to decade-high at 5.1%: official

LONDON: The Bank of England on Thursday unexpectedly lifted interest rates to 0.25 per cent from a record low 0.10 per cent, and flagged more hikes to combat decade-high inflation, despite Omicron fears. The BoE’s monetary policy committee voted 8-1 in favour of the first interest rate hike in more than three years, but unanimously … Read more