UK inflation hits 40-year high of 9%

Prices are rising at their fastest rate in 40 years as higher energy bills hit millions of households. UK inflation as measured by the consumer prices index, which is the average rate at which prices are rising, jumped to 9% in the 12 months to April, up from 7% in...

Regular pay tumbles in first quarter of 2022

Wages have fallen between January and March 2022, with only a growth in bonuses keeping total pay growth positive, data from the Office for National Statistics (ONS) says. According to its latest labour force survey, regular pay, excluding bonuses, increased by 4.2%...

GDP fell by 0.1% in March 2022

The UK economy contracted by 0.1% in March 2022 after no growth in February 2022, dampening outlooks on the country's economic recovery post-Covid. A contraction in the services sector was the main contributor to March's fall in GDP, reflecting a large decrease...

BCC calls for emergency budget

The British Chambers of Commerce (BCC) is calling for an immediate emergency budget by the Government to combat the rising costs faced by businesses and workers. With firms in mind, the BCC has developed a three-point plan to alleviate costs and help the economy....