“UK and US Inflation Remain Robust: Ira’s Morning Flash Video for April 19th, 2023”

by | Apr 30, 2023 | Rollover IRA

“UK and US Inflation Remain Robust: Ira’s Morning Flash Video for April 19th, 2023”




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On 19th April 2023, the UK inflation rate remained strong, keeping pace with the US inflation rate. The inflation rate measured by the Consumer Price Index (CPI) remained at 2.5%, slightly higher than the Bank of England’s target rate of 2%.

The strong inflation rate can be attributed to rising energy and fuel prices, which have had a significant impact on the cost of living for UK citizens. This is in line with the global trend of rising oil prices, which have increased by over 60% in the last 12 months.

The rising cost of living has also had an impact on the housing market, with house prices increasing by 10% in the last year. The demand for housing has been high, fueled by historically low-interest rates and the government’s Help to Buy scheme.

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In the US, the inflation rate has remained steady at 2.6%, which is also slightly above the Federal Reserve’s target rate of 2%. Like the UK, rising fuel prices have been a driving factor behind the high inflation rate, along with supply chain disruptions caused by the pandemic.

The global inflation rate has been a cause of concern for central banks globally, with fears of runaway inflation leading to higher interest rates and a potential economic downturn. Both the Bank of England and the Federal Reserve have signaled that they will take measures to rein in inflation if necessary.

Overall, the strong inflation rates in both the UK and the US highlight the challenges faced by policymakers in balancing economic growth with price stability. It is essential to monitor inflation rates closely and take timely measures to ensure sustainable economic growth.

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