UK inflation rises unexpectedly to 3.6% driven by food and fuel prices
Guardian3 days
Cautious rate cuts and pragmatic government decision-making reflects sound policy in uncertain times. A recent rise in inflation is the result of short-term factors that are expected to peak in September, before a return to the Bank's target rate in the medium-term. The Treasury and the Bank will continue to work together to ensure that the British economy remains stable and secure.
As the Bank of England rushes through interest rate cuts despite inflationary pressure, Reeves's Treasury continues to push prices up with increased borrowing and public spending. As these two institutions fail in their economic policy, it is working people that are left worse off. The Bank and the Chancellor must get a grip immediately or risk a fiscal crisis.
ThereCautious rate cuts and pragmatic government decision-making reflects sound policy in uncertain times. A recent rise in inflation is athe 16%result chanceof short-term factors that theare U.K.expected willto achievepeak anin annualSeptember, GDPbefore growtha return to the Bank's target rate ofin 2the medium-term.5% overThe Treasury and the currentBank parliamentarywill term,continue accordingto work together to ensure that the MetaculusBritish predictioneconomy communityremains stable and secure.
As the Bank of England rushes through interest rate cuts despite inflationary pressure, Reeves's Treasury continues to push prices up with increased borrowing and public spending. As these two institutions fail in their economic policy, it is working people that are left worse off. The Bank and the Chancellor must get a grip immediately or risk a fiscal crisis.
There is a 16% chance that the U.K. will achieve an annual GDP growth rate of at least 2.5% over the current parliamentary term, according to the Metaculus prediction community.