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Eurozone inflation at new record in January |
| January 31st, 2008 under Inflation Stats. [ Comments: none ]
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Source: News.bbc.co.uk
Official data has shown that Eurozone inflation has surged to a new record at 3.2%. This is much higher than the ECB 2% target. Normally inflation is controlled by increasing interest rates, but with the economy already slowing and the potential of the US heading into a recessions, the ECB will have tough decisions to make.
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EDF Energy hike Electric & Gas (7.9% & 12.9%) |
| January 15th, 2008 under General. [ Comments: none ]
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Source: Yahoo.com
Utilities firm EDF has become the latest in line to put up its electricity and gas prices.
The French-owned firm says prices are to go up from Friday (18th January) - electricity tariffs up by 7.9% and gas by 12.9%.
EDF has 5.5m account holders in the UK.
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Fastest rise for 17 years in factory gate prices |
| January 15th, 2008 under Inflation Stats. [ Comments: none ]
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Source: Telegraph
By Edmund Conway, Economics Editor
Last Updated: 6:48am GMT 15/01/2008
Prices charged by manufacturers are rising at the fastest rate in almost 17 years - in the latest sign that inflation remains a major threat to the British economy.
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Food costs rise at record rate |
| January 15th, 2008 under General. [ Comments: none ]
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Source: Telegraph
Food cost increase adds £750 to annual bill
By James Kirkup, Political Correspondent
Last Updated: 1:41am GMT 15/01/2008
Food prices are accelerating at their fastest rate since records began, fuelling a rise in the average family’s shopping bill of £750 a year.
Official figures showed wholesale food prices rose by 7.4 per cent in the past 12 months - more than three times the headline rate of inflation……
(Similar take to Harry Wallop’s story a few months back)
Good to see they mention orange juice - as I’ve been going on about it and the lemons in my threads!
“A 500g bag of parsnips cost £1.76 at Asda at the end of last year compared to 98p a year earlier, while Tesco has increased the price of 2.5kilos of Maris Piper potatoes from £1.78 to £2.18.
A dozen free-range eggs from Sainsbury’s rose from £1.62 to £2.35, and Asda increased the price of its orange juice from 73p a litre to 88p.”
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MPC leave interest rates at 5.5% - Jan 2008 |
| January 13th, 2008 under General. [ Comments: none ]
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The Monetary Policy Committee voted to keep interest rates at 5.5% in January.
Many economists had been predicting a .25 basis points cut, due to an alleged high street slowdown, though many high street stores have had a difficult few months, others such as John Lewis and Morrison had large growth for the quarter (almost double digits) and Internet shopping had increased 60% on the year.
Also inflation is picking up, with 17% gas/electricity rises from NPower and Petrol has risen to 102.9p per litre. The pound has also weakened against the dollar and the euro, which is good for exporters in Britain, but imports become more expensive which fuels inflation.
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Gas & Electricity Prices To Rise |
| January 3rd, 2008 under General. [ Comments: none ]
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Npower is to increase both its gas and electricity prices, the UK’s fourth largest energy supplier has confirmed.
The company, which has four million customers, said it would provide exact details on Friday.
Its move comes on the back of high global energy prices, with crude oil hitting a record $100 a barrel in New York earlier this week.
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