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May 4 (Reuters) - Shop prices in Britain surged last month at the fastest rate in more than a decade and worse is to come, according to a survey published on Wednesday that spelt further bad news for many households caught in a worsening cost-of-living crisis.

The British Retail Consortium said prices in store chains rose by an annual 2.7% in April, accelerating from a 2.1% rise in the 12 months to March and marking the highest rate since September 2011.

"The impact of rising energy prices and the conflict in Ukraine continued to feed through into April's retail prices," said BRC chief executive Helen Dickinson.

"Non-food products, particularly furniture, electricals and books, have seen the highest rate of inflation since records began," Dickinson added, citing new supply disruption from China which has enacted more COVID-19 lockdowns recently.

Food prices rose by 3.5% year-on-year, the biggest rise in just over nine years.

https://www.reuters.com/world/uk/uk-shop-prices-rise-fastest-rate-since-2011-brc-2022-05-03/

UK households’ expectations towards interest rates remain amongst most hawkish on record in April
Key findings:
Over half of households (53%) expect a rate hike in next 3 months...
...rising to nearly three in four (72%) in the next 6 months
Just 8% believe the next move by the central bank will be a cut
Data were collected 14-21 April
UK Households’ Interest Rate Expectations

Lewis Cooper, Economist at S&P Global said:
“Household interest rate expectations continued to run hot in April, according to the latest survey data. The net balance for interest rate expectations dipped only slightly from the record readings seen in February and March and remained the third-highest on record. UK households clearly expect further moves from the Bank of England to temper inflation, adding to what is already three rate hikes in successive meetings.
“Views of UK households remain broadly in line with expectations of financial markets, which continue to price in at least one further 25 basis point rise from the UK’s central bank in the next three months.
“Moreover, a strong majority of 72% of households surveyed expect a rate hike within the next six months, suggesting that forecasts of higher interest rates remain baked in to households thinking despite wider geopolitical and macroeconomic concerns.”

https://www.markiteconomics.com/Public/Home/PressRelease/8d4e2eeaeaef47618c675364624a1446

UK households’ expectations towards interest rates remain amongst most hawkish on record in April
Key findings:
Over half of households (53%) expect a rate hike in next 3 months...
...rising to nearly three in four (72%) in the next 6 months
Just 8% believe the next move by the central bank will be a cut
Data were collected 14-21 April
UK Households’ Interest Rate Expectations

April data highlighted that UK households continue to expect an imminent rise in the Bank of England base rate, and sentiment is among the most hawkish since the index began in July 2013, according to the latest representative survey of 1,500 UK households compiled by S&P Global.
At 53% in April, the proportion of UK households who expect a rate hike in the next three months was little-changed from the survey record proportion of 55% recorded in February and March, and was the third-highest since data collection began in 2013.
Meanwhile, just 8% of households surveyed at the start of the second quarter expect the next move by the UK’s central bank to be a rate cut, up only slightly from February’s reading of 5%. This suggested that UK households believe the central bank will remain focussed on tempering inflation in the first half of 2022, despite a clouded macroeconomic outlook due to ongoing supply issues and the war in Ukraine, and growing pressure on consumer finances amid the cost of living crunch.

https://www.markiteconomics.com/Public/Home/PressRelease/8d4e2eeaeaef47618c675364624a1446

US stocks are expected to open down as investors assess the implications of a worldwide wave of monetary tightening to combat rising inflation

Earlier this morning the Reserve Bank of Australia made its first interest hike in over 10 years, from 0.1% to 0.35%, the FTSE is expecting a volatile week in markets, with tomorrow the US Federal Reserve is expected to hike rates by 50 basis points and on Thursday the Bank of England is expected to make an increase of half that size

Hope to see 160 this week as the demand for travel is back

FTSE 100 to extend gains for fourth day in a row ahead of volatile week
London's blue-chip share gauge is expected to climb around 53 points higher

Sean Doyle last week met Transport Secretary Grant Shapps and revealed BA was 'pro-actively' axing even more flights ahead of summer.

Shares are languishing around two-thirds below where they were before Covid ground the business to a halt. They closed the week at 143.96p per share, a long way short of 480p highs of 2018.

Analysts wonder how much the travel chaos will have hit sales and profits, and will be looking for indications of when it will return to profits.

They expect the airline, which also owns Aer Lingus and Iberia, to report a loss of £423million for the first three months.

Hargreaves Lansdown analyst Sophie Lund-Yates said: 'Profits had been expected to make an arrival in the second quarter, and hopefully that's still the case.

'Summer months are crucial for airlines, and that's especially the case for IAG, which has been especially punished by the pandemic thanks to its long-haul focus. All eyes will be on the outlook statement.'

https://www.thisismoney.co.uk/money/share-investing/article-10768319/With-British-Airways-crisis-IAG-faces-uphill-battle-restore-image.html

Good morning falky

""Recession while there is a boom in housing market, it doesn’t add up""

I read yesterday Prime London house prices skyrocket by 114 per cent as homebuyers flock back to the city, it's looking like rate hikes and recession will be hitting people who chose to live beyond their means

Hardup

""Were these the same economists who were saying in 2020 and 2021 that interest rates should not be raised to control inflation for fear of stalling the recovery from COVID crisis!""

Back in 2021 Governor Andrew bailey bottled it by failing to raise rates he got slated in papers

Top economists have warned the UK could tip into recession as interest rates are poised to rise again this week.

Gerard Lyons, a former adviser to the Prime Minister, said botched decision-making by the Bank of England means 'a sharp slowdown is now inevitable' and recession 'possible'.

https://www.thisismoney.co.uk/money/markets/article-10770335/Recession-fear-Bank-England-set-hike-rates-1.html

UK steel prices have soared by 50 per cent since Russia invaded Ukraine due to a surge in demand and producers absorbing higher energy prices.

The war has also led to buyers seeking alternatives to sourcing from Russian steel plants.

A ton of rebar steel, which is used in construction, was worth £841 in February but estimated to be worth £1,298 this month

https://www.thisismoney.co.uk/money/markets/article-10770507/UK-steel-prices-soar-50-Russia-invaded-Ukraine.html

Bill likes a placing, the company is burning the cash pretty quick it won't be long before the next placing

Bline59

"Saves mentally on stress and High Blood pressure"

Your mental health seems ok today on internet share dealing posting of the forum today, being a lloyds investor for every high street bank witch gets closed lloyds is £500 thousand better off, investor's want a progressive dividend

Oil

This is a public forum do you have to use vulgar language mummy coming to wash your mouth out if you don't like loosing money don't gamble

London Heathrow to recruit 13,000 new employees

https://www.passengerterminaltoday.com/news/personnel/london-heathrow-to-recruit-13000-new-employees.html

The wind has changed direction coming in from the north donkey gone lame again looking like a long term injury

Heathrow have raised their forecast for the year by 7 million passengers, reflecting the wave of pent up demand, which is expected to continue throughout the summer, after September however forecast is uncertain

Heathrow, the UK’s busiest airport, has predicted that this year’s surge in demand for air travel is a “bubble” that is unlikely to last past this summer and has forecast another year of losses

https://www.ft.com/content/bbf8f2b2-27a5-4669-b2c1-c2281eddef22

Natwest today said its profits had almost doubled since the previous quarter, despite inflation, the cost-of-living crisis, and the war in Ukraine.

The bank said it had generated £841m in profits in the first quarter of 2022, up 93.8 per cent compared to the £434m in profits Natwest posted in Q4 2021.

The first quarter also saw the government’s stake in Natwest drop below 50 per cent for the first time since the financial crash, after it dropped to 48 per cent in Q1 2022.