Today news
About the same in other media
‘There is nothing that hasn’t gone up’: how rising costs are hitting UK businesses
Reading now: 432
Inflation has barely stirred for most of the 14 years since the start of the global financial crisis. Yet the coronavirus pandemic has disrupted almost every aspect of the global economy, and businesses are having to face up to what to many feels like an unusual phenomenon: rapidly rising prices.
It has taken those who watch the economy by surprise. A year ago independent economists polled by the UK Treasury expected consumer price index inflation to reach only 1.9% by the fourth quarter of this year. On Wednesday, the Office for National Statistics reported CPI had risen 4.2% over the year to October – almost double the Bank of England’s 2% target and the highest in a decade.
The squeeze is being felt by businesses across the economy, who
Read more on theguardian.comAbout this in other media
Harvester owner warns Brexit and rising costs will dent UK hospitality theguardian.com /2 years ago
UK businesses pushed to raise prices amid jump rise in costs theguardian.com /2 years ago
‘People expect cheap food, drink and accommodation – that horse has bolted’: a hotelier on life without EU workers theguardian.com /2 years ago
Show more
The website finance-news.co is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
