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UK inflation jumps to 3.5% in April on higher energy, water, road tax and air fare prices – as it happened
Here’s our analysis on the jump in UK inflation to 3.5% in April.For households across Britain, April was an awful month. Rising energy bills, broadband costs and the sharpest increase in water bills since privatisation – despite public anger over the quality of service offered – all added to the cost of living squeeze.Economists had forecast a jump in inflation based on the flurry of annual bill increases
M&S expects cyber-attack to last into July and cost £300m in lost profits
Marks & Spencer has said it will take an estimated £300m hit to profits this year from a damaging cyber-attack that it expects to disrupt its online business into July.Its chief executive, Stuart Machin, confirmed that “threat actors” had gained access to the retailer’s systems via one of M&S’s contractors using “social engineering” techniques, which can include posing as a staff member to fool a helpdesk.“They used heavily sophisticated techniques,” he said, adding that the incursion was quickly spotted over the Easter weekend and the business was ready with a plan after a simulation exercise of an attack last year.You can tell us how the cyber-attack has affected your shopping habits and your personal information by filling in the form below, or messaging us.Please include as much detail as possiblePlease include as much detail as possiblePlease include as much detail as possiblePlease note, the maximum file size is 5
M&S shoppers: what impact has the cyber-attack had on you?
The UK’s biggest clothing retailer, Marks & Spencer, said it expects disruption to its online business to continue into July. Orders via its website have been stopped and some deliveries to its online food partner, Ocado, have also been affected.The company has admitted that some personal information relating to thousands of customers including names, addresses, dates of birth and order histories – was taken in the cyber-attack. The retailer told customers there was no need to take any action, although “for extra peace of mind” they would be prompted to reset their password the next time they logged into their M&S account.The retailer has been trying to recover for a month since its IT systems were hit over the Easter weekend
Bigger than expected inflation jump worsens Bank of England dilemma
For households across Britain, April was an awful month. Rising energy bills, broadband costs and the sharpest increase in water bills since privatisation – despite public anger over the quality of service offered – all added to the cost of living squeeze.Economists had forecast a jump in inflation based on the flurry of annual bill increases. But at 3.5% – the highest rate in the G7 – the rise was bigger than the 3
Cutting mental health waiting times ‘could save UK £1bn a year’
Ministers have been told cutting waiting times for thousands of people in Britain’s mental health crisis could help employment and save the government £1bn a year.According to research by Lancaster University, providing access to faster treatment across England through the NHS would help to improve the health of hundreds of thousands of people while bringing economic benefits for the nation at large.In a new study to be published in the latest edition of the respected Review of Economics and Statistics academic journal, Prof Roger Prudon found that a one-month delay in the start of mental health treatment resulted in 2% of patients losing their jobs.Drawing on data for waiting times from the Netherlands between 2012 and 2019, Prudon said a one-month reduction could help as many as 80,000 people get access to treatment annually, which would save more than €300m (£253m) in unemployment-related costs every year.He said the same calculation could be applied to the UK, given a comparable prevalence in mental health problems, as well as similar treatment times and cost to the economy and public finances from unemployment
UK inflation jumps higher than expected to 3.5% amid bills increase
Inflation in the UK jumped by more than expected last month to 3.5% – its highest rate in more than a year – after dramatic increases in water bills, energy costs and council tax.A rise in employer national insurance contributions and an increase to the national minimum wage also put pressure on companies to raise prices by more than City analysts had forecast.The surge in the consumer prices index (CPI) recorded by the Office for National Statistics came after a decline in the rate over the first quarter of the year to 2.6% in March
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