Food inflation eases to 2.2% as grocery price pressure finally loosens its grip
Annual food and drink inflation slowed from 3.0% to 2.2% in the year to May, the latest tracking shows, offering tentative relief to households even as the weekly shop remains far dearer than it was three years ago.
UK inflation holds at 2.8% in May as cheaper food offsets soaring transport costs
The Office for National Statistics says the headline rate was unchanged from April, defying forecasts of a rise, as falling grocery prices balanced out the steepest jump in transport costs in more than three years.
Bank of England expected to hold interest rates at 3.75% as inflation risks resurface
Economists are near-unanimous that the Monetary Policy Committee will leave borrowing costs unchanged on Thursday, with Middle East tensions and a looming energy bill rise tempering hopes of further cuts this year.
Bank of England poised to hold rates at 3.75% as Middle East crisis stokes inflation fears
The Bank of England's Monetary Policy Committee is widely expected to keep interest rates at 3.75% on 18 June, with energy-driven inflation risks dividing the panel and dampening hopes of cuts later this year.
Bank of England set to hold rates at 3.75% as oil shock derails hopes of summer cuts
Economists are virtually unanimous that the Monetary Policy Committee will leave borrowing costs unchanged on Thursday, with a Middle East oil-price spike forcing rate-setters into a holding pattern just as households had begun to hope for relief.
IMF cuts global growth forecast as Middle East war sends oil prices surging
The Fund now expects the world economy to expand just 3.1% in 2026, warning that a sustained oil-price shock could push the world close to recession and reignite inflation.
Bank of England set to hold rates at 3.75% as energy risks cloud outlook
The Monetary Policy Committee is widely expected to keep Bank Rate unchanged on 18 June, balancing softer inflation against the threat of higher energy costs from Middle East tensions.
Oil shock returns: Middle East war pushes up petrol, energy bills and inflation
A conflict in the Middle East has sent crude prices soaring, lifting petrol prices, threatening higher household energy bills from July and reviving the cost-of-living squeeze just as Britain thought the worst was behind it.