News UK
What high inflation means in the UK – BBC News
Inflation in the UK is at its highest rate for 30 years, having risen to 5.4% in the 12 months to December.
The jump in the cost of living is being driven largely by rising fuel and energy costs.
Right now, prices are rising so quickly that the money people earn does not go as far, putting further pressure on households
The BBC’s consumer affairs correspondent, Colletta Smith, breaks it down.
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The US said it has hit “dozens” of Iranian military targets in overnight attacks, in response to Iran hitting commercial ships in the Strait of Hormuz.
The military said it struck “air-defense systems, coastal radar sites, missile and drone capabilities, and small boats”, using aircraft, ships, and drones – including “one-way attack sea drones for the first time”.
“The Strait of Hormuz is a vital maritime corridor for global trade,” the US military said. “Iran does not control it”.
In response, Iran said it targeted US bases in Jordan, Bahrain, and Kuwait and also radar systems in Oman.
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President Donald Trump has said the US is reinstating a naval blockade of Iranian ports and will impose a 20% charge on all cargo shipped through the Strait of Hormuz following days of escalating strikes between the two countries.
He said this would stop “Iran’s ships or customers” from entering or leaving the key oil shipping route, but “all other countries will have fair and open use of the Strait”.
Iran’s foreign minister later said whoever provides safe passage “should be compensated for this service”, but Iran would remain the strait’s “GUARDIAN” – using Trump’s word.
Tehran and Washington clashed over the strait’s control after exchanging strikes in the region overnight and on Monday.
The US said it carried out strikes against military targets in Iran, targeting air defence systems, coastal radars, and missile and drone sites. Iran said it responded by striking US military bases in Kuwait, Jordan and Bahrain, and radars in Oman.
Reeta Chakrabari presents BBC News at Ten reporting by Jeremy Bowen.
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Wildfires of ‘exceptional scale’ have taken force in Paris, as neighbouring Spain still tackles flames across the country following its own devastating fires.
Now the UK is also experiencing wildfires in England and Wales, as its third heatwave of the year is set to intensify again this week.
Here’s what we know so far about the extent of wildfires in Europe and the UK, and how heatwaves are impacting them.
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Explosions have been heard near two Iranian port cities, Bandar Abbas and Bushehr, state media has reported.
It comes after another night of strikes between the US and Iran, with Iran’s Islamic Revolutionary Guard Corps saying it hit two UAE tankers in the Strait of Hormuz and targeted US facilities in Jordan and Bahrain.
The UAE called the attack “brazen”, adding that an Indian crew member was killed and eight others were injured.
Meanwhile, the US military says it completed strikes on targets aimed at degrading “Iran’s ability to attack commercial shipping” – Iranian state media reports three people were killed.
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The US military said it was carrying out a new wave of strikes on targets in Iran. It said the aim of the attacks was to degrade Iran’s ability to attack shipping in the strait of Hormuz. It came ass the US Navy resumed its blockade of Iran’s ports.
Iran said that control of the strait of Hormuz was required for its national security and it will exercise sovereignty over the key shipping lane, whatever the cost.
President Trump announced that he was scrapping a plan he had announced a day earlier, for placing a 20% toll or tariff on all cargos passing through the strait of Hormuz.
Clive Myrie presents BBC News at Ten reporting by Sarah Smith in Washington.
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@adamchuny2736
January 6, 2024 at 4:42 pm
it’s because of brexit u donuts
@JonathanSteadman2003
January 6, 2024 at 4:42 pm
I already gave up on life.
@Hercules_the_Great
January 6, 2024 at 4:42 pm
And the corporate profits, they feeling the squeeze, or are they making off like bandits?
@peterkirby2771
January 6, 2024 at 4:42 pm
Do you think it’s fare that many respectable companies have boycotted Russia to help Ukraine win the war and Rishi Sunaks wife is profiteering 8 million pounds a year from a company operating in Moscow.
@whiskysam2036
January 6, 2024 at 4:42 pm
It's all a con from march 2020
@jeroldjonesii6869
January 6, 2024 at 4:42 pm
#REPARATIONSNOW
In #AMERICAALLOVER
@shoaibahmad7133
January 6, 2024 at 4:42 pm
Why are the interest rates rising, when the economy has not been growing since 2008 and neither have the wage rate. The inflation rates should be going down, If it were not for the the oil and commodity prices which have gone up substantially due to the imprudence of the Government.
It is the responsibility of the Government to counter the negative implications of the Ukraine Russian war on the UK economy. Higher interest rates or imposition of new taxes are going to spoil the cost-of-living crisis even more further than correcting it. The tax rates are already stifling the general public when the British boy is talking of imposing more and new taxes on the people. Since the people are suffering and the MPs serving the people are already well off, they should forego taking salaries and benefits from the Government till the situation improves instead of imposing more taxes on the people. The Governor of the Federal Reserve should be fired for not keeping inflation under control which is the sole responsibility of the Federal Reserve Bank
@jeroldjonesii6869
January 6, 2024 at 4:42 pm
#BOTCOTTTHANKSGIVING
#BOYCOTTCHRISMAS
#REPARATIONSNOW
#FOUNDATIONALBLACKAMERICANS
@abhijeetpatil7653
January 6, 2024 at 4:42 pm
Have fun world looters
@MMA-gb6to
January 6, 2024 at 4:42 pm
doomed
@goddid9189
January 6, 2024 at 4:42 pm
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks (with the help of my Financial Advisor of course) and made about 246k, but guess what? I put it all back and traded with her again and now I'm rounding up close to a million.
@devinnlimbu7989
January 6, 2024 at 4:42 pm
Gud News👍️
@aarondavies8486
January 6, 2024 at 4:42 pm
Yet again they don't tell you it's down to government spending nothing to do with consumers or producers all them free jabs you had we are paying for them now
@stephenhoskins1532
January 6, 2024 at 4:42 pm
The inflation is caused by an increase in the money supply ie Q.E or money printing which all Western govenments have been doing. The only way to solve it is cut governemt spending and raise interest rates to the level of inflation which will put the econony into recession .The government dont want you to know this and point the finger at anyone but themselves.
Inflation is the tax payeble on all the money printing that has taken place.
@southlondonlad9144
January 6, 2024 at 4:42 pm
The thing is, we're not all in the same boat. Plenty of people are still going out to expensive pubs and restaurants. The people who earn the most money are affected the least here, so we're not exactly all facing the same worries
@walkthroughvg
January 6, 2024 at 4:42 pm
the selfishness of westerners is once again creating chaos around the world
@zainabrajpoot2550
January 6, 2024 at 4:42 pm
umm , sending weapons to ukraine and that money cant be used in uk ?
@erkyuo22
January 6, 2024 at 4:42 pm
U.S English better.
@markdavis4754
January 6, 2024 at 4:42 pm
This will be one sure way to push crime up as people have no choice just to have food on the table let alone heating.
@BUBUDOGSHATIN
January 6, 2024 at 4:42 pm
That’s the cost of supporting Ukraine. I bet you brits love financing other people killing their neighbours. From hk
What I see is brits are doing something hurting their ppl and others. Funny and love to see British kids freeeeze and starve
Keep it up
@lijie2511
January 6, 2024 at 4:42 pm
Why the gas/electricity/fuel prices are hiking so much? UK doesn’t get them from Russia but North Sea, should not be impacted like this, higher than Europe and US. It is hard to believe. 😔
@kelseywhite6889
January 6, 2024 at 4:42 pm
Sadly this economic crisis means more inflation and more inflation affects the banking system. My condolences to anyone retiring this year..
@epicrising9895
January 6, 2024 at 4:42 pm
No. The reason for inflation is that there has been too much fiat currency created. Inflation is always a monetary phenomenon. This video is disinformation
@user-kh4fr4qk1b
January 6, 2024 at 4:42 pm
It's all Putin's fault. Biden.
@muhammeddenizli7377
January 6, 2024 at 4:42 pm
https://youtu.be/moLewk9VVmk
@michaelleak3369
January 6, 2024 at 4:42 pm
I'm sick ove having fuck all so I'm gowing to hing my self this life is shit
@miked7666
January 6, 2024 at 4:42 pm
This is why they need War
@JakilineTheOhNo
January 6, 2024 at 4:42 pm
Bababooey
@3_2_1
January 6, 2024 at 4:42 pm
That's the weirdest way of delivering bad news. It's like "You're so ***ked, high five!"
@oddball6992
January 6, 2024 at 4:42 pm
The great reset by klaus schwab and his new world order scumbag chums “you will own nothing and be happy”
@yeabutnobut8564
January 6, 2024 at 4:42 pm
Thank you democracy. Thank you biden.
@rachelcaruthersonyou
January 6, 2024 at 4:42 pm
It's normal under a tory govt.
@dracowolfe305
January 6, 2024 at 4:42 pm
Good catch