The US central bank has raised its forecast for inflation as the Iran war-linked surge in global energy prices threatens self-inflicted damage on the world's largest economy.
The UK's largest supermarkets are calling on the chancellor to exclude stores from a new business rates surtax, warning that shoppers will bear the brunt of higher prices.
The Bank of England has cut the interest rate for the fifth time in a year to 4% but warned that climbing food prices will cause inflation to jump higher in 2025.
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Inflation may have eased but we're stuck in a world of higher prices
The US central bank has raised its forecast for inflation as the Iran war-linked surge in global energy prices threatens self-inflicted damage on the world's largest economy.