For more information see our Privacy Policy. Privacy Notice: Newsletters may contain info about charities, online ads, and content funded by outside parties. Official figures also showed a sharp increase in the cost of telecommunications services – linked to inflation-busting price increases pushed through by mobile phone and broadband providers in April.Ĭharities and anti-poverty campaigners warned that a fall in the headline inflation rate would not automatically spell an improvement in living standards for hard-pressed households, as the cost of basic essentials remained stubbornly high. The LSE’s latest report estimating the impact of leaving the bloc on UK food prices found that trade barriers were consistently hampering imports, pushing up bills by an average £250 a year since 2019. Although food prices have increased across the EU in recent months, academics at the London School of Economics (LSE) said in a study released on Wednesday that Brexit was adding to the financial pain in Britain. Prices rose by more than a quarter for several basic essentials, including pasta, milk, cheese, eggs and olive oil. However, this was offset by the rising cost of a weekly shop as food and non-alcoholic drink prices soared by 19% in the 12 months to April, the fastest annual rate since 1977 and the highest level in western Europe. The latest snapshot from the ONS reflected a steadying in energy prices, which remain high but have not risen further compared with last year. “For anyone with a fixed rate mortgage due to expire in the next few months, this is incredibly unwelcome news, and the longer that higher rates endure, the more people will find themselves facing far higher mortgage rates, and no idea how to cover the cost.” “That would add to the pain that the past year and a half has already wrought,” said Sarah Coles, head of personal finance at Hargreaves Lansdown. Should rates hit that level, a borrower with a £200,000 mortgage on a tracker would see their annual repayments jump by about £1,400 from current levels. However, the figure was higher than predictions made by Threadneedle Street two weeks ago, prompting a sharp sell off on the London stock market on Wednesday and driving up UK government borrowing costs close to the level during Liz Truss’ ill-fated premiership.įinancial markets moved to bet it was almost a certainty that the Bank would increase the base interest rate by a quarter-point from the current level of 4.5% when its policymakers next meet in June – with the prospect of borrowing costs reaching almost 5.5% before the end of the year. This level of certification demonstrates that evidence was submitted of compliance to the 10 security standards and accompanied with current Cyber Essentials PLUS certification.įind out more about Cyber Essentials here.The Office for National Statistics reported that inflation, as measured by the consumer prices index, fell to 8.7% in April, down from 10.1% in March, as it dipped below double figures for the first time since last summer. As previously stated OASIS Group (Offsite Archive Storage and Integrated Services (UK) Ltd) have attained Standards Exceeded status. There are three levels of status for organisations registered with the NHS DSP Toolkit, these are Approaching Standards, Standards Met and Standards Exceeded. More information can be found by visiting the National Data Guardian by clicking here.
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