Economic News

UK inflation hits 40-year high of 10.1%

UK inflation hits 40-year high of 10.1%

Higher food prices helped push up inflation in September, official data showed on Wednesday, to a record 10.1%. According to the Office for National Statistics, the consumer price index rose by 10.1% in the 12 months to September, compared to August's rate of 9.9%....

Chancellor flies home early for crunch talks

Chancellor flies home early for crunch talks

The chancellor has cut short his visit to the International Monetary Fund in Washington amid growing speculation that the government is preparing to U-turn on its controversial mini-budget, it was reported on Friday. It is understood that Kwasi Kwarteng is travelling...

UK economy unexpectedly shrinks in August

UK economy unexpectedly shrinks in August

The UK economy unexpectedly contracted in August for the first time in two months, raising the risk of a recession. According to figures released on Wednesday by the Office for National Statistics, GDP fell 0.3% following 0.1% growth in July, and versus expectations...

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