First annual drop in UK house asking prices since January 2024

Rolling coverage of the latest economic and financial newsAs well as warning about food inflation pressures, German discount chain Aldi has also said it will invest £1.6bn over the next two years in the UK.This will include opening 80 more stores – part of Aldi’s plan to eventually operate 1,500 stores across the UK, up from 1,060 at present.“Food and drink inflation has been climbing steadily all year, with no sign of easing. Looking at the longer-term picture, today’s prices are steeper than anything in recent decades. The five-year average is running at more than double the rate seen between 1990-2010.“Inflationary spikes between 2020 and 2023 were driven by geopolitical shocks which created supply chain disruptions and sharp rises in energy and raw ingredients. With most of these costs now stabilised, this new inflation surge is fuelled by the financial impact of domestic policies, now trickling down to supermarket shelves.” Continue reading...

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