UK inflation slides to 2.3%

Inflation fell sharply to a near three-year low in April thanks largely to lower energy prices, according to the Office for National Statistics. UK inflation has fallen sharply to its lowest level in nearly three years. According to the Office for National Statistics (ONS), consumer price index (CPI) inflation fell to 2.3% in April from 3.2% in March. Cooler energy …

Retirement Professionals UK inflation slides to 2.3%

Bank of England votes 7-2 to hold interest rates at 5.25%

The Bank’s Monetary Policy Committee has held rates for a sixth consecutive time. The Bank of England’s Monetary Policy Committee has voted 7-2 to maintain Bank Rate at 5.25%, with two members preferring to reduce Bank Rate by 0.25%. One more member for a rate cut compared to March’s meeting, where the vote was 8-1. Interest rates have now been …

Retirement ProfessionalsBank of England votes 7-2 to hold interest rates at 5.25%

UK inflation drops less than expected to 3.2%

Food price rises are slowing but rate cut decision still several months away if figures remain where they are. UK consumer prices index (CPI) inflation slowed less than expected to 3.2% in March, raising the prospect that a rate cut will take longer than predicted. Although the March figure is the smallest monthly inflation rise for two-and-a-half years, it is …

Retirement ProfessionalsUK inflation drops less than expected to 3.2%

Up to 1.6 million more pensioners to pay income tax by 2028

Frozen income tax thresholds will see up to 1.6m more pensioners breaching the £12,570 personal tax threshold by 2028, research suggests. As many as 1.6 million more pensioners will be paying income tax within the next four years due to frozen tax thresholds and the rising value of the state pension, according to the Telegraph. Analysis for the House of …

Retirement Professionals Up to 1.6 million more pensioners to pay income tax by 2028

UK inflation falls to 3.4%

Inflation came in below economists’ forecasts of 3.5%. UK inflation has fallen to the lowest level seen since September 2021, with the annual rate falling from 4.0% in December and January to 3.4% in February. The ONS data shows that core CPI inflation (stripping out energy, food, alcohol and tobacco) was 4.5%, down from 5.1% in January, while food inflation …

Retirement ProfessionalsUK inflation falls to 3.4%

UK inflation holds steady at 4% in January

UK headline CPI inflation came in lower than expected for January at an annual 4.0% – against the consensus forecast for 4.2%. That means inflation remained level at 4.0% from December, with prices falling by -0.6% in monthly terms. Core CPI inflation (excluding energy, food, alcohol and tobacco) also held steady month-on-month at 5.1% while CPIH inflation, which includes owner …

Retirement ProfessionalsUK inflation holds steady at 4% in January