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Inflation

A closer look at the impact of inflation on people, businesses, accountancy and the wider economy, bringing together the best expert opinion, data and analysis from ICAEW and its members.

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Inflation: 75 years of ups and downs

  • Article
  • 06 Jul 2022
What can decades of inflation data tell us about the current economic situation? ICAEW’s interactive graphic sheds light on the likely outlook.
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Latest

Article
19 Oct 2022
Scaling back of energy support risks renewed inflation surge

The latest official estimate from the Office for National Statistics reveals that UK inflation accelerated to 10.1% in September as food prices soar.

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Article
07 Oct 2022
How can hospitality companies tough out inflation?

As research shows that two-thirds of the UK’s Top 100 restaurant businesses are losing money, we look at what hospitality companies can do to survive rising inflation.

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Article
28 Sep 2022
An inflated sense of worth: what inflation means for savers

A fall in headline inflation to 9.9% in August down slightly from 10.1% in July is likely to be a transient moment of calm in a continuing storm. So what does rising inflation mean for pension savers and other investors?

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Article
14 Sep 2022
August’s dip in inflation a ‘temporary distortion’, says ICAEW

Latest official estimate revealed that UK inflation slowed to 9.9% in August, amid strong base effects and lower fuel prices.

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Article
17 Aug 2022
Higher food prices push UK inflation into double digits

Latest official estimates reveal that UK inflation rose to 10.1% in July, the highest rate since February 1982, and experts say it has yet to peak.

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Article
09 Aug 2022
UK businesses keen to invest are held back by inflation

About 66% of businesses plan to seek funding for business investment, according to research, while the same number have been negatively affected by rising inflation.

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Article
28 Jul 2022
ICAEW: Middle East offsets inflation with rising oil prices

Middle East GDP growth in 2022 is projected at 5.2%, an increase of one percentage point on Oxford Economics’ forecast in the first quarter, following inflated oil prices

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Article
26 Jul 2022
Auditing with inflation on the rise

Inflation has only been above 3% twice in the last 30 years. Auditors will need to understand the impacts. We outline some of the key areas of the audit that may be affected by inflation.

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Table
21 Jul 2022
Inflation adds fuel to the deficit as cost of borrowing soars

Economic pressures mount as the public sector deficit reaches £55bn in the first three months of the fiscal year.

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Article
20 Jul 2022
UK inflation reaches new 40-year high

Latest official GDP estimate revealed UK inflation UK inflation rose for ninth month in a row in June, amid higher petrol and food prices.

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Podcast
18 Jul 2022
Recession? What recession? Time for business to stop worrying and start investing

Iain Wright, ICAEW’s Managing Director, Reputation and Influence is joined by Kitty Ussher, Chief Economist at the Institute of Directors, and Suren Thiru, ICAEW’s Director, Economies.

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Podcast
14 Jul 2022
The pain – and potential gains – of rising inflation

On this ICAEW Insights podcast episode, we speak to Martin Wheatcroft about rising inflation and what that means for businesses, plus capital allowances reforms.

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Article
14 Jul 2022
Stronger-than-expected growth masks growing challenges

Latest official GDP estimate confirms that the UK economy rebounded in May after shrinking in April, as GP appointments boost the headline figure.

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Article
27 Jun 2022
Five strategies to weather the inflation storm

ICAEW Manufacturing Community member Katy Davies runs through her five-point plan to help bolster businesses against a backdrop of rising inflation.

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Article
21 Jun 2022
BoE: further rate increase is necessary to rein in inflation

The Bank of England’s chief economist warns inflation will be no quick fix and to expect further interest rate increases to achieve its objective of getting inflation back to 2%.

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Insight from firms

Article
One of PwC's office buildings 05 Aug 2022
PwC examines accountants’ role as inflation soars

Using ICAEW inflation data, PwC UK Senior Economist Barret Kupelian assesses influential factors contributing to historically high inflation and explores what this means for businesses and the role of accountants.

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Article
One of Mazars' offices 12 Jul 2022
Mazars: deflation is dependent on multiple global economies

From ending war to kickstarting manufacturing, George Lagarias, Chief Economist at Mazars, examines how global markets have dealt with inflation during the 20th century, adding what we can learn from their experience.

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Article
08 Jul 2022
RSM: inflation spike harks back to post-war peak

ICAEW’s graphic highlights similarities between post-pandemic and post-Second World War inflation, say Thomas Pugh and Simon Hart from RSM, who explain what businesses should be doing to mitigate the effects.

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Article
EY 07 Jul 2022
EY: inflation inevitable after the pandemic

Using ICAEW inflation data, EY UK Chief Economist Peter Arnold assesses key drivers behind rising inflation over the past seven decades and predicts how this current wave of high inflation looks set to pan out.

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Charts and tables

Chart
chart20oct 21 Oct 2022
Chart of the week: Consumer Price Inflation

This chart looks at how the benchmark percentage, used to determine the rise in the state pension and many welfare benefits from next April, reached 10.1% in September 2022.

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Table
Table of figures 21 Jul 2022
Inflation adds fuel to the deficit as cost of borrowing soars

Economic pressures mount as the public sector deficit reaches £55bn in the first three months of the fiscal year.

View
Chart
A chart 06 Jul 2022
Inflation: 75 years of ups and downs

What can decades of inflation data tell us about the current economic situation? ICAEW’s interactive graphic sheds light on the likely outlook.

View
Chart
chart26may 26 May 2022
Chart of the week: Inflation around the world

This week we look at how inflation is racing upwards across the world, with the UK reporting in April one of the highest rates of increase among developed countries.

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Charts
Snapshot of a chart 26 May 2022
Business confidence damaged by rising inflation, says ICAEW

Concerns on the tightening of the economy and rising inflation cause business confidence in the UK to fall for the third quarter in a row, ICAEW survey finds.

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