Projection that we present today is very much into parts. Im going to begin with the first part. Starting near term outlook. This chart shows the evolution of Consumer Price inflation and its components since 2018. It shows that inflation has come off the peak in october last year and that it continues to fall over the rest of this year in our near term projection. Thats the piece showed in the shade of part of the chart. This fall can be attributed in large part to a full on contribution from energy. Fuel prices have declined, electricity and gas prices have stabilised, albeit at a higher level. The Dark Orange Bars on this chart show how the contribution from Energy Prices falling and turning negatively in the coming months. Giving off gems price cap on energy and gas bills, we expect inflation to take a further step down in the july dates will be published in two weeks time. That will come down to around 7 at that point. Following a larger step down in 0ctober s data to around about
we start with the soaring cost of living because there s a warning home energy bills here in the uk could rise even higher than previously feared this winter. wholesale gas prices have jumped back to near record highs after a further squeeze on europe s gas supplies by russia. our global trade correspondent dharshini david has the details. this is being claimed as the first truly global energy crisis, the result of moscow weaponising fossil fuels in europe has been the key target. this is the wholesale price paid for gas there. 4a8% higher than a year ago because traditionally it got to 40% of its gas from russia. that latest rise reflects a focus on this, this is nord stream one, the pipeline carrying bird of europe s russian gas supply all the way to germany, that flow has now dropped to just a fifth of normal levels, russia blames that on the impact of sanctions on vital equipment, opponents say it s an attempt to blackmail by turning down those taps. those concerns have a
desperately trying to get enough to eat. and, the england and wales cricket board brings charges against yorkshire, and several individuals, over allegations of racism. live from our studio in singapore, this is bbc news it s newsday. welcome to the programme. new us aid for ukraine, worth $1 billion, has been announced by president biden in washington. it includes additional artillery and coastal defence weapons, as well as ammunition for artillery and advanced rocket systems. new pledges came from nato members who met in brussels, the us defence secretary said he will move heaven and earth to ensure ukraine receives the weapons it needs to combat russia s invasion. here s a little what lloyd austin had to say. we can t afford to let up, and we can t lose steam. the stakes are too high. ukraine is facing a pivotal moment on the battlefield. and we re seeing what president zelensky warned us about. after failing to take kyiv and reassessing its combat aims, russia has shift
last night after legal action. and our shrinking coastline a warning that rising sea levels mean almost 200,000 properties in england may have to be abandoned. also coming up before nine o clock. as new government research reveals that young people are particularly at risk of chronic loneliness, we take a closer look at something affecting up to half of adults in england and ask how we can better cope together. boris johnson s ethics adviser has resigned after saying there was a legitimate question over whether the pm had broken ministerial rules over pa rtygate. lord geidt did not give a reason for his departure, but in a statement he said it was the right thing to do. let s speak to our political correspondent, jonathan blake. what do we know about why he decided to go? this what do we know about why he decided to o? , . ., what do we know about why he decided to no? , what do we know about why he decided too? , ., ., to go? this came as something of a surrise to go?