The Bank of England has lowered interest rates to 4%, the fifth cut since August last year and the lowest level since early 2023, in a move aimed at giving the UK economy a much-needed […]
The price of everyday essentials like chocolate, butter and eggs continues to climb, pushing UK food inflation to its highest rate in 18 months. According to the British Retail Consortium (BRC), food prices rose by […]
Nigeria’s economy grew 4.6% year-on-year in Q4 2024, marking its fastest expansion in a decade. According to the World Bank, the full-year growth rate reached 3.6% and is expected to continue in 2025. This is […]
Germany is poised to witness a significant rise in unemployment, reaching levels not seen since 2015, with an expected peak of nearly 2.8 million jobless individuals this year. Despite the high figures, these numbers remain […]
Turkey’s inflation rate surged to 68.5% in March, marking a slight increase from February’s 67.1%, as reported by the Turkish Statistical Institute. The monthly consumer price jump of 3.16% was notably influenced by sectors such […]
Barclays Bank has embarked on a significant restructuring process, reducing its global workforce by 5,000. This decision forms part of the bank’s strategic initiative to cut costs and improve profitability. The reduction, affecting a substantial […]
The Bank of England has signaled a tough road ahead for the UK, maintaining interest rates at 5.25% amidst a stagnating economy and persistent inflation. This decision comes at a critical juncture as the country […]
Definition of Inflation and Deflation Inflation often conjures images of rising prices, crowded shopping malls, and the palpable anxiety of our money’s diminishing purchasing power. At its core, inflation is when the general level of […]
Rolls-Royce, the renowned engineering giant, has unveiled plans to cut up to 2,500 jobs worldwide in a bid to create a “more efficient and effective” organization. This decision marks the first significant action by Tufan […]
The Bank of England’s Governor, Andrew Bailey, recently made headlines by suggesting that interest rates are nearing their peak, although they might still rise a bit more. He shared with MPs that the Bank is […]
The inflation rate in the United States receded in May to its lowest annual rate in over two years, as per a report from the Labor Department. The consumer price index (CPI), a key measure […]
The UK’s economy is ailing, and this isn’t just a figure of speech. More Britons than ever are out of the workforce due to long-term illness or disability, a historic and lamentable loss of human […]
In a bold move to combat climbing inflation, Argentina’s Central Bank has escalated its key interest rate by a steep six points, hitting a staggering 97%. This decisive action comes in response to inflation soaring […]
In March, UK inflation persisted at over 10%, mainly due to skyrocketing bread prices. Consumer prices increased by 10.1%, with food prices climbing by 19.2%—the highest increase in 45 years. Bread and cereals experienced a […]
German workers began a massive strike this week as Europe’s largest economy grapples with soaring inflation. The strikes, which will impact mass transport and airports, are some of the largest in decades and reflect growing […]
The inflation rate in Argentina has passed the 100% mark this week with consumers particularly hard hit by increasing food prices – the price of meat alone increased by almost 20% in the last month. […]
Annual food prices in the UK went up by 14.7% in October, representing the largest increase since records began in 2008. Driven largely by the knock-on effects of Russia’s war in Ukraine, food inflation is […]
Food prices in Japan are rising fast as producers struggle to cope with a depreciating Yen and the increasing costs of commodities. Data collected from supermarkets and other food retailers show food inflation is currently […]
The UK economy has been plunged into economic turmoil since the announcement of the mini-budget last week. Since the new chancellor, Kwasi Kwarteng, announced the largest tax cuts in 50 years the economy seems to […]
The UK government has announced the largest tax cuts in 50 years as part of their mini budget to deal with the cost of living crisis and boost the wavering British economy. The UK economy […]
The UK inflation rate is rising at its fastest rate in 40 years. This is predominantly a result of soaring fuel and energy prices, as well as recent pressure on food costs. Year-on-year inflation for […]
As inflation spikes throughout the Sri-Lankan economy, the central bank has responded by increasing the interest rate from 5.5% to 6.5%. This tightening of monetary policy follows three consecutive months of double-digit inflation, with the […]
The UK chancellor, Rishi Sunak, has just announced the government’s latest scheme to save people’s jobs from the ongoing Coronavirus crisis. With the job retention scheme set to end at the end of October, both employers and […]
The unemployment rate in the UK has risen to its highest level in two years, with an official figure of 4.1% released by the office for national statistics. Given the devastating impact of Covid-19 on […]
Inflation in India, the fifth largest economy in the world, stood at 6.9% in July according to the latest measurement of the CPI (consumer price index). This means that inflation in India has been above […]
According to data released by the US Labour Department, new unemployment claims for the week ending August 15th stood at just over 1.1 million people, up 135,000 from the week before. This data paints an […]
Governments need to keep track of their spending just like we all do. If they spend more than they earn, just like our bank balance goes into the red, so does theirs! This is commonly […]
Josh Frydenberg, the Australian Treasurer, announced on Wednesday that the economy is likely to have shrunk by as much as 9% from April to June. This further decline in size, following a 0.3% contraction in […]
The economic impact of Covid-19 has been devastating and wide-reaching. One country which is suffering significantly is South Africa, where going into lockdown has stifled almost all economic activity. As South Africa, the second largest […]
As the world’s economies continue to reel from the damage caused by the spread of Covid-19, Supercar manufacturer McLaren is the latest company to announce a huge wave of layoffs. The British based firm is […]
Whilst India was initially praised for their response to the Covid-19 crisis by organising a mass lockdown that effectively took 1.3 billion people off the streets, the subsequent effect on their economy will be severe. […]
The inflation rate in Canada entered negative territory in April, as year-on-year inflation was measured at -0.2%. This essentially means that the average price level in Canada was 0.2% less in April this year, than […]
With unemployment levels soaring across the world, the ILO (International Labour Organisation) released a policy brief which outlined the steps they recommend for global governments to take in order to mitigate the impact of the […]
The latest in a long list of ‘historic lows’ since Covid-19 wiped out the global economy is the total collapse of the American retail sector. Data released by the US Census Bureau has shown that […]
India, the second largest country in the world with a population of 1.35 billion people, has now been in lockdown for over 50 days. The impact of such a widespread stay-at-home order has had a […]
In April, the UK government launched an unprecedented job retention scheme to combat the economic fallout of the coronavirus on employment. Under the scheme, the UK government will fund 80% of workers’ wages, up to £2,500 a month, […]
The stats are now out on the performance of the American economy for quarter one of 2020, and it’s not good news. According to the US Bureau of Economic Analysis, the world’s largest economy contracted […]
Since the US economy was essentially shutdown four weeks ago, the economic fallout has been tremendous and devastating. With businesses closing across all sectors of the economy, millions of people have been forced into unemployment. […]
The economic impact of the coronavirus is unprecedented and far-reaching. People all over the world have been affected in some way, and it is likely that our lives will never be the same again. One […]
The global fashion industry, valued at over US$2 trillion, has been hit extremely hard by the worldwide spread of Covid-19, resulting in business closures, loss of jobs, and plummeting sales throughout the whole supply chain. […]
Clothing workers in Bangladesh, the South Asian country which is only second place to China in the global manufacturing of clothing, have been hit hard by the worldwide spread of Covid-19. The plummeting demand for […]
Since the outbreak of Covid-19 in January this year, governments and central banks around the world have been spending trillions of dollars in order to keep the global economy afloat. The scale of the economic […]
In response to the economic fallout from the spread of Covid-19 in the US, the Senate has passed a bill which will free up $2 trillion to be used for a coronavirus relief package. Since […]
McDonald’s has announced that as of Monday evening it will close all 1,270 of their UK based restaurants until further notice. Employing around 135,000 people across the UK, this is going to put a huge […]
In yet another unbelievable day of economic policy in action, the chancellor of the exchequer, Rishi Sunak, announced yesterday the latest measures to protect people’s income, keep businesses alive, and encourage spending in the economy. […]
For the second time in a week, the Bank of England has cut interest rates in an attempt to rescue the UK economy from the jaws of a coronavirus induced crash. In an unprecedented move, […]
It’s not all doom and gloom! Well… it is mostly. But with all the negative economic news in the last few weeks, here is a more positive story to tell. With the coronavirus now a […]
The Prime-minister of Lebanon has announced that the country in Western Asia is to default on a huge debt repayment of US$1.2 billion which was due to be paid on March 9th. The Lebanese economy […]
The British Home Secretary has suggested the training and upskilling of the economically inactive in order to fill the large staff shortages in British businesses across the UK. According to Patel, there are over 8.45 […]
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