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Unit rates rise 28% in six months, Darren Grimes notes

Unit rates rise 28% in six months, Darren Grimes notes
Unit rates surge 28 percent despite VAT cut

Darren Grimes reports significant increases in unit rates, with prices rising 13 percent in July, followed by a 4 percent jump in a single day.

He adds that nearly a 10 percent rise was forecast in January, making for a cumulative 28 percent increase over six months. Grimes also notes that the latest increase occurred despite a VAT cut intended to soften the impact, warning that VAT will return in March. According to experts cited, levies and policy decisions tied to renewables are being blamed for the continuing increases.

Darren Grimes has previously reported on a 94,000 drop in payrolls and vacancies falling to their lowest level since 2014, alongside a rise in unemployment to 4.9% in his article Payrolls down 94,000 and vacancies hit post-2014 low. Grimes also covered Treasury data showing record income tax collection and rising government borrowing compared to the prior year in Treasury collects record income tax as borrowing rises. These earlier reports contribute additional context to his ongoing coverage of economic pressures.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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