Good morning.
There are even gloomier economic data for the beginning of the day, as inflation rose even more than expected in March.
The consumer price index jumped to 7% – a new 30-year high – as the war in Ukraine pushed prices higher. The figure rose from 6.2% in February and exceeded expectations of 6.7%.
The growth is due to a wide increase in prices throughout the economy, including restaurants, furniture and clothing, as well as energy and food.
Inflation is expected to worsen as prices rise this month, putting pressure on Chancellor Rishi Sunak to do more to help struggling households.
5 things to start your day with
1) Workers in restaurants attracted by free prosecco and gym discounts in the war for talent Companies struggling to hire staff amid rising vacancies
2) Wind turbines set a new record for electricity production Plus: Shell will develop a “blue” hydrogen plant in the UK to boost decarbonization
3) “Striking” number of foreign takeovers risks damaging the economy, warns Schroeders More than half of British businesses that have disappeared from the stock market have been bought by foreign buyers
4) British Airways tries to attract cabin crew with £ 1,000 “welcome bonus” Golden greetings offered to staff with security clearances amid long inspection delays
5) Sky accelerates the disappearance of the satellite dish The Puck device will allow viewers to watch all channels online
What happened during the night
Asian stocks were mostly higher on Wednesday in hopes that US interest rate caps could fall as new data showed signs of slowing inflation.
Benchmarks rose early in trade in Japan, South Korea and Australia, while fell in China.
The Japanese benchmark Nikkei 225 jumped 1.4% in morning trading to 26,703.18. The Australian S & P / AS 200 added 0.2% to 7465.30.
South Korean Kospi rose 0.7% to 2,686.14. Hong Kong’s Hang Seng fell 0.2% to 21,276.10, while Shanghai Composite fell 0.6% to 3,194.69.
Expect today
- Corporate: Tesco (year-round results), PageGroup, PZ Cussons (trade statement)
- Economy: consumer price index (UK), producer price index (UK), retail price index (UK), trade balance (China)
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