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...are often countered with the fact that the UK did actually report lower average inflation than the US and Eurozone in that period....
...In the consumer price index, most of the remaining inflation overshoot is in two categories: auto insurance and shelter....
...And as an unadvertised bonus . . . 6. Inflation adjusted. Further reading:— FTSE 100 closes at record high as sterling weakens (FT)...
...However, official data suggests that both this diagnosis, and the proposed solutions, are flawed. Are too many people signed off as sick? Britain does not look as if it has a “sick note culture”....
...Downing Street’s thinking is that by the time of an autumn election, voters will have enjoyed a sustained period of wages outpacing inflation, one or two interest rate cuts, and inflation back at target...
...That is the lowest since 2021 and the first time the rate in Britain has been below that of the US since March 2022....
...Simon Pittaway, senior economist at the Resolution Foundation think-tank, said the headline 3.2 per cent reading showed Britain was exiting the “prolonged period of double-digit price rises” that saw inflation...
...But the recent trend is clear and inflation concern is due. The market reaction on Wednesday was big....
...Grocery price inflation fell to 3.2 per cent in the four weeks to mid-April, down from 4.5 per cent last month and the lowest since November 2021, research company Kantar said on Tuesday....
...out volatile food and energy costs, is its favoured inflation measure....
...Australian inflation cooled in the first quarter but was slightly higher than expected, prompting a sell off in the country’s bond and currency markets on Wednesday....
...In today’s newsletter: Britain’s biggest water utility circles the drain Elliott’s stuck in an AC Milan fight Byju’s investors try to oust its founder Britain’s biggest water utility circles the drain...
...“Inflation is hot, it’s getting sticky and more broad based,” said Diane Swonk, chief economist at KPMG US. “Those are three things the Fed doesn’t want.”...
...“The outlook for US interest rates and US inflation and growth is quite markedly changed now,” said Lombardelli, who will join the BoE’s MPC in July....
...Grocery price inflation fell to 3.2 per cent in the four weeks to mid-April, down from 4.5 per cent last month and the lowest rate since November 2021, research company Kantar said on Tuesday....
...This is an important reminder that we should not assume too mechanical a link between interest rates and inflation....
...The figures come a day after first-quarter US inflation and growth data prompted investors to push back expectations of an interest rate cut by the Fed....
...For months, holdouts hoping that the Fed will cut interest rates aggressively, and soon, have derived comfort from relatively becalmed PCE inflation data, and sought to dismiss bracingly strong readings...
...On Wall Street the S&P 500 gained 1.2 per cent on Tuesday and the tech-heavy Nasdaq Composite climbed 1.6 per cent....
...One showed how the policy rate would evolve in a higher-inflation scenario, where international demand was stronger and there are renewed supply shocks....
...“Global inflation remains undefeated,” said Indermit Gill, the World Bank Group’s chief economist and senior vice-president....
...Inflation: German workers strike for higher pay as eurozone inflation surges Demand and supply: BP service stations close as driver shortage hits UK fuel supplies Inflation and monetary policy: Is it...
...Habeck’s ministry added that lower inflation, the prospect of lower interest rates later this year, rising wages and incomes, a stable labour market and stronger exports would all boost activity....
...Tory officials are still hopeful that UK inflation will fall below the BoE’s 2 per cent target soon — probably in May — and that next month’s growth data will confirm that Britain has exited the mild recession...
...Three- and five-year consumer inflation expectations have ticked up in the past month, and so have break-evens, the market’s best guess at future inflation....
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