Rates continue to remain ‘well above’ historic low levels Average annuity rates continued to rise in the third quarter of 2023 Q3, according to the Standard Life annuity rate tracker. The tracker, developed by Standard Life, part of Phoenix Group, monitors current average annuity rates across the market for those annuitising at ages 60, 65, and 70. It also shows …
Official figures show inflation down from 6.7% in September UK inflation declined sharply in October, falling to an annualised rate of 4.6% from 6.7% in September, according to data from the Office for National Statistics (ONS). The drop in housing prices was the largest contribution to the fall in inflation, contributing 1.6 percentage points to the 2.1 percentage point decline. …
The Bank of England has left borrowing costs untouched for the second time in a row, as monetary policymakers around the world press pause in their fight against inflation. In a widely expected move, the Bank’s Monetary Policy Committee (MPC), voted 6-3 to maintain the Bank Rate at a 15-year high of 5.25%. The three in the minority voted to …
HMRC took in £3.9bn from inheritance in six months to end of September, £400m more than in the same period last year. The government collected a record amount from inheritance tax (IHT) in the six months to the end of September as frozen thresholds mean more estates are being hit by the tax. HM Revenue & Customs (HMRC) took in …
UK inflation remained steady last month as prices rose 6.7% year-on-year meaning pensioners are likely to get a bumper 8.5% increase in their state pension next year under the triple lock policy. The Office for National Statistics (ONS) said on 18 October that prices had risen by 0.5% between August and September, matching market expectations. Core inflation, which excludes energy, …
Core inflation at 6.1% UK inflation has remained steady as prices rose 6.7% year-on-year in September, matching the previous month’s figure, the lowest rate since March 2022. The Office for National Statistics said today (18 September) that prices had risen by 0.5% between August and September, matching market expectations. Core inflation, which excludes energy, food, alcohol and tobacco, saw a …
