Page 36 - Londra Gazete Sayı 1119

Londra Gazete, 18 August 2022 LondraGazete.com/English 5

Inflation hits fresh 40-year

high of 10.1% as cost of

living crisis deepens

INFLATION accelerated in July
Sewage pollution alerts to 10.1 per cent, the fastest rate
since February 1982, official fig-
issued for almost 50 beaches ures have revealed.
The higher than expected jump
in the cost of living comes the
POLLUTION warnings are in thend-on-Sea. day after the Office for National
place for almost 50 beaches in The majority are along Eng- Statistics (ONS) said wages were
England and Wales after untreat- land's south coast. Southern Wa- rising at just 4.7 per cent.
ed sewage was discharged into ter is one of the water companies Living standards are now fall-
the sea around the coast. responsible for those regions, ing more quickly than at any time
Official data shows discharges along with Wessex Water and since detailed records began in
have taken place since Monday South West Water. 2001.
The ONS said on Wednesday
and Southern Water says they In a statement, Southern Water that the Consumer Prices Index
have been made to protect homes said: "There were thunderstorms (CPI) – the benchmark measure
and businesses. accompanied by heavy rain the of inflation – rose from 9.4 per
It follows a period of heavy rain night before last and yesterday cent in June.
across southern England, after a [Tuesday]. Storm releases were When prices were last rising as
spell of extremely dry weather. made to protect homes, schools fast as the 10.1 per cent in July
Data was provided by water and businesses from flooding. Margaret Thatcher was Prime
companies to the Safer Seas and The release is 95-97% rainwater Minister and The Jam were Num- faster than the two per cent tar- That will increase the risk that
Rivers Service, the service is run and so should not be described as ber One in the charts with A Town get set by the Bank of England the Bank’s Monetary Policy Com-
by the charity Surfers Against raw sewage. Called Malice. putting more pressure on Gover- mittee will vote to increase inter-
The ONS said the sharply high-
Sewage. "We know customers do not er cost of food and drink, energy nor Andrew Bailey. est rates by a further half point
Many of the beaches contam- like that the industry has to rely bills and fuel were chiefly respon- They are expected to go higher to 2.25 per cent when it meets
inated are popular resorts, and on these [discharges] to protect sible for the latest jump in the still in the Autumn when huge next month, further increasing
include Bognor Regis, Lulworth them, and we are pioneering a CPI. rises in the cap in energy bills the pressure on households with
Cove, Newquay, Seaford and Sou- new approach." Prices are now rising five times kicks in variable rate mortgages.

Pace of UK house price rises Iceland to offer interest-free loans

slows, says ONS to customers

THE rate at which UK house pric- a 9.6% rise in Northern Ireland.
es are rising has slowed, according to Among the English regions, the ICELAND will offer customers new data. a pilot area, before expanding
official figures, but property values East recorded the fastest rise (up interest-free loans to help with Repayments are set at £10 per across Wales, as over 500 Welsh
were still up 7.8% in the year to June. 9.7%) with the slowest in the North their food shop amid soaring in- week, with customers able to customers used the loan service.
The annual increase in the UK av- East (up 3.6%). flation. choose the day they are made and Iceland's 'food club' has teamed-
erage house price slowed from 12.8% The rising cost of living and high- The supermarket trialled the overpay if convenient to them. up with ethical lender 'Fair for
the previous month, the Office for er interest rates - leading to more scheme in Huddersfield and Rhyl, The scheme comes after a re- You' to help customers purchase
National Statistics (ONS) said. expensive mortgages - will have an Denbighshire, before rolling it gional pilot trial, where it found everyday items. The frozen food
It reflects sharp rises in demand effect on the housing market. How- out across Wales, where more 92% of customers using food provider also reported that this
and prices a year ago, just ahead of ever, the ongoing mismatch between than 500 customers used it. banks previously had stopped or year 8.4 million people are going
hungry, and 9 million families
reduced their use of them.
Richard
director
Managing
the withdrawal of a stamp duty tax the number of homes on the market Walker said loans - provided by During the pilot phase, custom- who receive benefits will be an av-
break. and the number of potential buyers charity-owned lender Fair For ers paid interest on loans, how- erage of £500 worse off due to in-
Scotland recorded the biggest rise is keeping prices relatively high. You - would only be offered to ever Iceland have now decided to flation. Successful applicants for
in house prices in the latest figures. The average UK home cost those who can afford them. make all loans interest-free for the loan will receive a preloaded
Property prices were up by 11.6%, £286,000 in June, which is £20,000 The "real value" of pay fell by 3% the national roll-out. food club card within five to sev-
compared with a 7.3% rise in Eng- higher than a year earlier, the ONS from April to June, according to Rhyl was initially included as en business days.
land, an 8.6% increase in Wales, and said.
Student loan interest rates slashed for

second time amid cost of living crisis

STUDENT loan interest rates in ernment revealed in June that align with the most recent data
England and Wales are set to be the student loan interest rates on market rates".
cut for a second time to protect were to be reduced from 12% to The new rates will reduce stu-
borrowers from rising inflation 7.3%. dent loan interest rates by the
amid the cost of living crisis. 'Extreme levels' of poverty pre- largest amount on record, the
Rates will be slashed to 6.3% dicted - the latest on the cost of DfE added. Borrowers are not re-
from September, the Depart- living crisis quired to do anything in light of
ment for Education (DfE) has an- Minister for skills, further and the change, as it will be applied
nounced. higher, Andrea Jenkyns, said the automatically, the Student Loans
The change comes after the gov- new cap was being introduced "to Company has said.