The investment bank Citi forecasts that at the beginning of 2023 inflation in the United Kingdom will amount to 18.6%. year on year, and at its peak it will reach 20%. - the Financial Times reported today. The reason is soaring gas prices.more
Bankers expect an increased number of court cases on foreign currency mortgage loans both this year and next year. One of the reasons for this is the more expensive franc, reports "Rzeczpospolita" today.more
Households with smart meters could be paid for turning off high-energy appliances such as washing machines during peak times to reduce the risk of blackouts this winter.more
A rather unusual problem with millenials and generation Z has the authorities in the Land of the Cherry Blossom. It has emerged that young Japanese consume significantly less alcoholic beverages than their parents. Companies producing spirits are losing out, as is the state budget. Therefore, the Japanese government decided to organise a campaign to promote drinking.more
The UK's annual inflation rate rose to 10.1 per cent in July. - reported the Office for National Statistics (ONS) yesterday. This is another month when it is at its highest level in 40 years, but the first time since February 1982 that it has reached double digits.more
Supermarket bills in Great Britain will soar by £533, or more than £10 a week, as grocery price inflation hits its highest level since at least 2008.more
The UK economy shrank between April and June as experts forecast a gloomy outlook with recession on the horizon. The economy contracted by 0.1% in the second quarter of the year, the Office for National Statistics (ONS) said.more
Some low-paid workers on universal credit have missed out on the government’s first cost of living payment because of payroll quirks that removed their benefit entitlement during the key window set by the government.more
Pay rises could fall behind inflation by almost 8% later this year, marking the biggest fall in real wages for 100 years, according to analysis by the TUC.more
Business closures are on the rise in the Netherlands, reports the Dutch Bureau of Statistics (CBS). In the first six months of this year, 76,000 businesses were closed, the highest number in fifteen years.more
Germany's inflation rate in July was 7.5 percent, which is lower than in previous months, but "remains at a high level." - The Federal Statistical Office (Destatis) reported yesterday. Food prices rose 14.8 percent in July compared to the same month last year.more
The number of homes available to rent across the country has plunged to a record low of just 716, causing the highest monthly rent increases in more than 15 years.more
A proposed redesign of the Royal Mail network could see Londoners waiting until 6pm for their post, it has been reported. The national postal service wants to push back deliveries in an attempt to speed up the delivery of parcels.more
As the cost of living has risen, around 24 million UK adults have reduced their energy consumption and 16 million have cut back on spending on food and other essentials, according to an ONS survey published yesterday.more
In an era of inflation reaching 15.5 per cent, more and more companies are trying to write indexation clauses into their contracts with contractors and ordinary customers. These are intended to protect their salaries from a fall in value, reports today's "Rzeczpospolita".more
The Bank of England has warned the UK will fall into recession this year as it raised interest rates from 1.25% to 1.75% in a bid to curb soaring prices. It expects the economy to shrink in the final three months of this year and keep shrinking until the end of 2023.more
The UK's leading food bank charity has warned of a winter crisis as demand increases but donations drop off amid the worsening cost-of-living crisis.more
