Market updates and forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

UK Inflation Ranked First Among The G7: OECD


October, 04 2017
watermark Economic news

According to the statistics issued by the Organisation for Economic Co-operation and Development (OECD), the cost of living in Britain increased faster compared to other countries, including the so-called ‘G7 leading global economies’. Based on the revealed figures, the British economy has the highest inflation rate among top economies of the world, as the Brexit weighed on the sterling pound and continue to put pressure on household finances.

Inflation in the United Kingdom rose to 2.9% last month due to a surge in prices of fuel and clothing which exacerbate the pressure towards cash-strapped households struggling with slow wage growth. The UK was able to overcome the 1.7% average, which is also greater than the recorded inflation of other G7 members (Canada, France, Germany, Italy, Japan and the United States). It also exceeded the OECD average percentage of 2.2%, this further indicates that Britain surmounted the European Union including other G20 nations, showing results at .5%, 1.7%, and 2.3%.

However, the Britons are currently facing poor wage growth and high expenditure on the back of a weaker pound. This is because of the Brexit referendum that heightened prices for energy, imported goods, and services. Furthermore, United Kingdom is only behind Estonia, Latvia, Mexico, and Turkey.

Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.