hovering around 2%. right now, it sits somewhere around 4%. that s certainly better than where it was last year. somewhere above 8.5%. but it is still not good enough. and it s why the fed chair jerome powell has said more interest rate hikes seem pretty likely. in may, the 12 month change in the cpi came in at 4.0% and the change in the core cpi was 5.3%. inflation has moderated somewhat since the middle of last year. nonetheless, inflation pressures continue to run high and the process of getting inflation back down to 2% has a long way to go. the theory is by making it more expensive to borrow money it should cool off the economy. and ten rate hikes later, that tactic seems to be working. of course, the danger is the us economy could fall into a recession. those hawkish comments by mr powell had certainly weighed on investor minds. the nikki index is trading flat as japanese investors look at what happened on wall street overnight aftermarket sales for a third straight on
as you can see here, the rate of inflation in the uk has remained stubbornly high over the last few months adding pressure on the bank of england to raise interest rates again when it meets tomorrow. they re likely to be concerned that core inflation which excludes volatile food and energy prices actually rose hitting 7.1%. that s the highest rate since march 1992. bear in mind, the bank of england s target for inflation is 2% and its been falling in other countries. here s the uk finance ministerjeremy hunt. we don t have the clip at the moment. yael selfin is chief uk economist at the business consultancy kpmg and joins us from london. we heard from jeremy hunt earlier and he said it is a surprise, and it is one of their targets to get inflation down, but it is proving to be harder to do and easier to say. it is proving tricky and there are a number of reasons, one of which is we have a very tight labour market, tighter than in other economies, especially in europe,
which strips out volatile items like food and fuel is actually going up! rising interest rates are piling the pressure on millions of mortgage borrowers here in the uk who are facing steep rises in monthly bills. lets hear from some of them. at this moment in time, at the end ofjune, i will make my final payment of £434 when my current deal ends. and thereafter i have been told to expect my payments will be over £1,800. i m currently paying £560 a month. at the end ofjuly, it will go onto variable, and it will go up to £1,200 a month. 0ur mortgage has gone up by over £2,200 a year. - it s a huge impact . on our expenditure, and it has a huge impacti on the family as a whole. the government s finance chief chancellor of the exchequerjeremy hunt says bailing out struggling borrowers only risks stoking inflation further no matter what the pressure from left, right or centre, we won t be pushed off course. because if we re going to help families, if we re going to re
where we are de carbonised by 2050. a lot of innovation ongoing. you ll be competing for those supplies of sustainable fuels against a whole range of other industries. does that mean in the future flying is simply going to have to become more expensive? it will probably become slightly more expensive moving forward as those fuels are significantly more expensive. the equation in general is that the prices will increase. we think it can be absorbed by demand. the us federal trade commission has accused amazon of enrolling millions of customers into trade subscription programmes without consent. it also said they made it difficult for the customers to cancel the amazon prime service. that s all we have for you on asia business report. i m monica miller, thank you for watching. meet the gospel 0ak crow. for the journalist who first heard of a bird attacking long haired locals, it didn t
meet the gospel 0ak crow. the journalist who first heard of the bird attacking long haired locals didn t take long to find free. me and m didn t take long to find free. me: and my colleague and who has didn t take long to find free. me and my colleague and who has long hair which is what the crow goes for we went up and saw the crow would go for her within seconds and switch under head. for her within seconds and switch under head- for her within seconds and switch under head. this is the talk of the town in this under head. this is the talk of the town in this part under head. this is the talk of the town in this part of under head. this is the talk of the town in this part of london. - under head. this is the talk of the l town in this part of london. dozens of people with their own terrifying experience. of people with their own terrifying exoerience- of people with their own terrifying exoerience- experience. they are attacking eo - le experience. they are attacking people