Grocery prices in Great Britain have increased for the first time in 17 months, posing renewed challenges for shoppers already struggling with the cost of living.
Shop price inflation in the UK has reduced to its lowest level since November 2021, driven by significant price cuts on big-ticket items like furniture and TVs.
Rising core inflation is intensifying the UK's cost of living crisis, straining businesses. The country hasn't witnessed such high inflation since the 1980s, burdening many enterprises.
The UK basic wage growth has reached a new record high, posing challenges for the Bank of England (BoE) amid concerns about long-term inflation pressures.
The European Commission has allocated €13.6 billion to the EU research budget, with €12.8 billion going to Horizon Europe – but inflation has cut latest budget forecasts.
The OECD, a club consisting of rich countries based in Paris, has unveiled its latest forecasts, revealing the highest inflation rate for Britain among G20 Nations, placing it just behind Argentina and Turkey.
The current economic situation, marked by soaring inflation, is significantly impacting student mental health and worsening the ongoing crisis among young people.
