UK inflation rises by more than expected
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Canada, UK inflation
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Incomes are still trailing inflation four years after the pandemic-era surge in prices, causing a financial pinch for many households.
July’s Consumer Price Index report showed an acceleration in “core” prices that strip out volatile food and energy items.
Governor Kathy Hochul has said New Yorkers will receive inflation rebate checks of up to $400 this fall despite proposed federal budget cuts that reduced aid to the state.
Prices in the UK rose by 3.8% in the year to July, driven mainly by a jump in the price of air fares and food. That means inflation is at its highest level since January 2024 and still far above the Bank of England's target of 2%,
Consumer inflation in Canada rose by less than expected in July, according to Statistics Canada, as falling gasoline prices offset price increases elsewhere.
The chancellor will have a particular eye on food inflation because people are especially sensitive to grocery price rises. At 4.9%, it’s the highest since February 2024, driven
The Bureau of Labor Statistics reported the producer price index jumped more than expected in July, spurring renewed concerns about inflation's economic impact.