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,
remains elusive. the federal reserve likes to keep inflation hovering around 2%. right now it sits somewhere around 4%. that certainly better than where it was last year. somewhere above 8% for that 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 interest rate hikes seem pretty likel . ., interest rate hikes seem pretty likel . . ., likely. in made the 12 month chance likely. in made the 12 month change in likely. in made the 12 month change in the likely. in made the 12 month change in the cpi likely. in made the 12 month change in the cpi came - likely. in made the 12 month change in the cpi came in i likely. in made the 12 month change in the cpi came in at| change in the cpi came in at 4-~0% change in the cpi came in at 4-~0%and change in the cpi came in at 4 .0% and the change in the core 4 .0% and the change in the core cpi 4 .0% and the change in the core cpi was 5.3%. in
the white house is pulling out all the stops to welcome mr. modi hosting him for a private dinner wednesday night. they are expected to deepen defense ties as the u.s. views india as a crucial partner amid growing tensions between washington and beijing. and mr. modi calling for one earth, one family and one future at a u.n. yoga event. we must view the power of yoga if a peaceful world and cleaner, greener and sustainable future. for more, let s go to new delhi. and we were hearing what the u.s. is getting out of this. what does modi want from the trip? reporter: in one sentence i d say, to deepen strategic defense and cultural ties with the united states of america. about you just look at it, it is
at boosting trade ties. joining me from new york is our north america business correspondent, samira hussain. this is an interesting meeting because i have been looking through the list of big trade deals between the list of big trade deals between the us and india already, they do a lot of trade. i m looking at the fact that the us is the third largest source of foreign investment, $60 billion, but narendra modi says it could be even bigger. me narendra modi says it could be even bi cer. ~ ., narendra modi says it could be even bi cer. ~ . ., bigger. we will hear more announcements bigger. we will hear more announcements similar i bigger. we will hear more announcements similar to i bigger. we will hear more - announcements similar to the one bigger. we will hear more announcements similar to the one we have heard from tesla and the prime minister himself. he has begun his state visit officially today and he led a yoga event at the un and then he is making his way to washington, d
The Guinness World Record for most nationalities in a Yoga session was created during the International Yoga Day event led by Prime Minister Narendra Modi in New York on Wednesday.