The Latest Breaking News on Rates probably on hold but all eyes on RBA governor

Inflation refuses to budge as under-40s, renters and London homeowners feel the pain

In a sea of economic data that always seems to disappoint, today’s inflation figures may plumb new depths. The Consumer Prices Index (CPI) rose by 8.7 per cent in the 12 months to May 2023. In other words, despite all the pain of higher interest rates, inflation remains unchanged.

Housebuilder reports jump in annual pretax profit but says current trading suggests 20% fall in sales this year

Inflation is hitting the news again, but what does the latest change mean for your family and your money

The big five owe the public for the 2008 bailout – and they are taking in enormous profits while many homeowners and renters struggle, says former chancellor John McDonnell

Some analysts expect the base rate to rise by 0.25 percentage points to 4.75% with others predicting an even bigger increase to 5% - so how much would your mortgage rise by?

Economy experts had expected inflation to fall last month to 8.4%.

Official figures show that consumer price inflation across the U.K. is unchanged at 8.7% in the year to May against expectations for a modest decline, a development that is likely to see the Bank of England raise the cost of borrowing again

Further monetary tightening risks deepening the financial pain for people and businesses, according to some commentators.