UK inflation sharply falls in October to 4.6%

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. …

Retirement ProfessionalsUK inflation sharply falls in October to 4.6%

Bank Rate Steady At 5.25% As Central Banks Push Pause Button

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 …

Retirement ProfessionalsBank Rate Steady At 5.25% As Central Banks Push Pause Button

Govt stealth tax sees IHT bills hit record £3.9bn

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 …

Retirement ProfessionalsGovt stealth tax sees IHT bills hit record £3.9bn

State pension set to rise 8.5% as CPI inflation remains ‘steady’

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, …

Retirement ProfessionalsState pension set to rise 8.5% as CPI inflation remains ‘steady’

UK inflation remains steady at 6.7% in September

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 …

Retirement ProfessionalsUK inflation remains steady at 6.7% in September

Inflation sees surprise fall to 6.7%

The UK’s headline rate of inflation has nudged down, helped by an easing of food and accommodation prices. UK CPI inflation was reported at 6.7% for August, compared to the 6.8% recorded in July and consensus expectations of an uptick to 7.0%. The ONS data shows an even greater drop in the core inflation reading: annual core CPI (excluding food, …

Retirement ProfessionalsInflation sees surprise fall to 6.7%