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Summary

UK Inflation Figures Assess Economy

This is a UK news story, published by Durham University, that relates primarily to Jeremy Hunt news.

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UK inflation figures
Durham University

Durham University

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Does the state of the UK economy inspire confidence? A School expert crunches the numbers

Durham University
Summary
Nutrition label

89% Informative

UK inflation figures released towards the end of May 2024 saw a drop in the official rate of price rises to 2.3% , not that far off the Bank of England’s target level of 2% . Jeremy Hunt , the chancellor of the exchequer, said the figures were encouraging.

But just how encouraged should UK residents be about the state of the economy? It depends on their level of income.

But this may be reversed, as the benefits of automation and AI accrue increasingly to those who are already better off. This article is republished from The Conversation under a Creative Commons license. Read the original article. Learn more about Dr Michael Nower and our Department of Economics .

VR Score

93

Informative language

94

Neutral language

54

Article tone

formal

Language

English

Language complexity

49

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

29

https://theconversation.com/what-the-economic-data-told-rishi-sunak-about-the-best-date-for-a-general-election-230811https://www.gov.uk/government/publications/minimum-wage-rates-for-2024https://www.fitchratings.com/research/sovereigns/jump-in-shipping-costs-intensifies-last-mile-inflation-challenges-26-02-2024#:%7E:text=Global%20supply%20chains%20are%20no,traffic%20in%20the%20Red%20Sea.https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/april2024https://www.sciencedirect.com/science/article/abs/pii/S0308596116000033https://www.bbc.co.uk/news/live/business-69027403/page/2https://www.bis.org/publ/cgfs19boe3.pdfhttps://assets.publishing.service.gov.uk/media/66043e0991a320001a82b0e7/The_National_Minimum_Wage_in_2024.pdfhttps://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/datasets/averageweeklyearningsbyindustryearn03https://www.dur.ac.uk/business/about/departments/economics/https://www.which.co.uk/money/tax/national-insurance/national-insurance-rates-aaim75D42Gfihttps://www.jstor.org/stable/1928654https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/businessinvestment/januarytomarch2024provisionalresultshttps://onlinelibrary.wiley.com/doi/abs/10.1111/ecca.12219https://theconversation.com/how-red-sea-attacks-on-cargo-ships-could-disrupt-deliveries-and-push-up-prices-a-logistics-expert-explains-220110https://www.sciencedirect.com/science/article/pii/S0264999312002404https://www.gov.uk/government/publications/ai-activity-in-uk-businesses/ai-activity-in-uk-businesses-executive-summaryhttps://onlinelibrary.wiley.com/doi/full/10.1111/ecca.12459https://www.bbc.co.uk/news/uk-politics-69050409https://theconversation.com/ukhttps://www.imf.org/en/News/Articles/2024/05/20/mcs052124-united-kingdom-staff-concluding-statement-of-the-2024-article-iv-missionhttps://onlinelibrary.wiley.com/doi/full/10.1111/j.0008-4085.2005.00314.xhttps://www.sciencedirect.com/science/article/pii/S0927537104000478https://theconversation.com/does-the-state-of-the-uk-economy-inspire-confidence-an-expert-crunches-the-numbers-230925https://www.ons.gov.uk/peoplepopulationandcommunity/personalandhouseholdfinances/incomeandwealth/bulletins/householddisposableincomeandinequality/financialyearending2022https://www.ons.gov.uk/employmentandlabourmarket/peoplenotinwork/unemployment/datasets/vacanciesbyindustryvacs02https://www.bbc.co.uk/news/live/business-69027403#:%7E:text=Official%20figures%20show%20that%20UK%20inflation%20slowed%20to,years%2C%20largely%20driven%20by%20energy%20prices%20cooling%20offhttps://www.dur.ac.uk/business/impact/https://www.sciencedirect.com/science/article/pii/S0304393222000162

Source diversity

13

theconversation.comwww.gov.ukwww.fitchratings.comwww.ons.gov.ukwww.sciencedirect.comwww.bbc.co.ukwww.bis.orgassets.publishing.service.gov.ukwww.dur.ac.ukwww.which.co.ukwww.jstor.orgonlinelibrary.wiley.comwww.imf.org

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