23-03-2022, 05:37 PM
UK inflation hits fresh multi-decade high of 6.2%
https://www.cnbc.com/2022/03/23/uk-infla...rices.html
https://www.cnbc.com/2022/03/23/uk-infla...rices.html
![](https://i.imgur.com/CLvY2jA.png")
UK inflation hits fresh multi-decade high of 6.2%, then 7% or 9%
12-05-2022, 05:32 PM
https://www.telegraph.co.uk/business/202...recession/
£40bn wiped off FTSE 100 as GDP figures spark recession fears
More than £40bn has been wiped off the FTSE 100 after the economy went into reverse in March, fuelling fears Britain could be plunged into recession.
The blue-chip index slumped 2pc after the latest figures showed GDP fell 0.1pc and growth for February was revised down to zero. On a quarterly basis, the economy grew 0.8pc – behind forecasts.
The services sector was the biggest drag on the economy as consumer-facing services suffered a slide in sales, according to the ONS.
Economists warned of a mounting risk of recession as soaring inflation puts a squeeze on household budgets. The latest figures come even before April’s 54pc surge in energy bills.
Inflation hit 7pc in March and the Bank of England estimates it has already risen to 9pc, and will climb above 10pc when household energy bills rise again in October.
Officials raised interest rates for a fourth time in a row this month, taking the base rate to 1pc, its highest since 2009.
£40bn wiped off FTSE 100 as GDP figures spark recession fears
More than £40bn has been wiped off the FTSE 100 after the economy went into reverse in March, fuelling fears Britain could be plunged into recession.
The blue-chip index slumped 2pc after the latest figures showed GDP fell 0.1pc and growth for February was revised down to zero. On a quarterly basis, the economy grew 0.8pc – behind forecasts.
The services sector was the biggest drag on the economy as consumer-facing services suffered a slide in sales, according to the ONS.
Economists warned of a mounting risk of recession as soaring inflation puts a squeeze on household budgets. The latest figures come even before April’s 54pc surge in energy bills.
Inflation hit 7pc in March and the Bank of England estimates it has already risen to 9pc, and will climb above 10pc when household energy bills rise again in October.
Officials raised interest rates for a fourth time in a row this month, taking the base rate to 1pc, its highest since 2009.
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