Inflation and interest rates dominate economics in 2023

Costs remain historically high

clock • 2 min read
The Bank of England base interest rate continued to rise steadily from 3.5 per cent to 5.25 per cent in August and has been holding there since
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The Bank of England base interest rate continued to rise steadily from 3.5 per cent to 5.25 per cent in August and has been holding there since

The eye-watering costs seen in 2022 have eased, but they remain historically high. The oil price ends the year at about $70/barrel (£54.74/barrel), $5 (£3.91) lower than at the start of the year. It...

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