by BoatSurfer600
Europe and the rest of the world*
Homeowners faced a fresh blow after higher than expected inflation raised fears interest rates could hit 5 per cent.
Mortgage holders have been hit by a series of interest rate rises as the Bank of England attempts to bring spiralling price increases under control.
Interest rates – which dictate the cost of borrowing – are currently at 4.25 per cent. They were expected to peak at 4.5 per cent and fall back toward more normal levels next year. But after the Office for National Statistics said inflation in March remained in the double digits – defying economists’ forecasts it would dip to 9.8 per cent – traders ramped up bets interest rates would rise.
www.independent.co.uk/news/business/inflation-rate-drop-10-percent-boe-b2322013.html
The prices of food surged at the fastest rate in more than 45 years last month, new figures by the Office for National Statistics (ONS) show.
The annual inflation rate in the food and non-alcoholic beverage category was 19.1% in March 2023, up from 18% per year in February.
Food prices alone jumped by 19.6%, with bread and cereal prices surging by 19.4%, the new figures, released on Wednesday (19 April), show.
www.farminguk.com/news/food-price-inflation-soars-over-19-to-highest-rate-in-45-years_62447.html