UK Inflation Hits 15-month High As Utility Bills Soar

Int'l Business Times21-05-2025

Britain's annual inflation rate surged more than expected in April as energy and water bills rose sharply, official data showed on Wednesday.
The Consumer Prices Index soared to 3.5 percent last month, up from 2.6 percent in March, the Office for National Statistics said in a statement. Analysts' consensus forecast had been for a jump to 3.3 percent.
At 3.5 percent, the headline rate was the highest since the beginning of 2024, the ONS noted.
"I am disappointed with these figures because I know cost of living pressures are still weighing down on working people," finance minister Rachel Reeves said in a statement.
UK regulators allowed private companies to hike household bills from April, taking into account movements in oil and gas markets and indebted water providers.
"Significant increases in household bills caused inflation to climb steeply," ONS acting director general, Grant Fitzner, said in a statement.
"Gas and electricity bills rose... compared with sharp falls at the same time last year."
He noted that "water and sewerage bills also rose strongly... as did vehicle excise duty, which all pushed the headline rate up to its highest level since the beginning of last year".
Energy bills are expected to drop from July, however, following recent heavy falls to oil prices in the wake of US President Donald Trump's tariffs blitz, according to analysts.
Businesses were additionally hit in April by a tax hike and rise to the minimum wage, which both took effect last month having been introduced by the Labour government following its July election victory that ended 14 years of Conservative rule.
Tory spokesman on the economy, Mel Stride, blamed "Labour's economic mismanagement" for the surge to inflation.
"Families are paying the price for the Labour... choices," he added, as businesses pass on higher costs to consumers.
Analysts said the latest data could see the Bank of England ease the pace at which it has been cutting interest rates in recent months.
"The BoE's next move is far from straightforward," noted Richard Flax, chief investment officer at wealth manager Moneyfarm.
"The central bank is likely to remain cautious, potentially delaying rate cuts until there's clearer evidence that inflationary momentum is genuinely easing."
The BoE earlier this month cut its key interest rate by a quarter point to 4.25 percent as the threat of US tariffs starts to weigh on economic growth.
It followed three reductions spread over the previous eight months.

Hashtags

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Turkish authority granted power to censor Quran translations – DW – 06/15/2025

19 hours ago

Turkish authority granted power to censor Quran translations – DW – 06/15/2025

Concerns about religious freedom in Turkey have been growing since early June, when a new law gave the Diyanet the right to ban translations of the Quran that do not comply with its interpretation of Islam. Turkey's Presidency of Religious Affairs, known as the Diyanet, is one of the country's most influential authorities. According to its own figures, it employs over 140,000 people and offers religious services in more than 100 countries. Founded in 1924, the Diyanet has reported directly to Islamic-conservative president Recep Tayyip Erdogan since 2018. Its annual budget of around €3 billion ($3.47 billion) also exceeds those of several ministries, including the Ministry of Interior. The Diyanet manages 90,000 mosques across the country, organizes Quran courses, cultural events and annual pilgrimages, and coordinates slaughters for the Feast of Sacrifice. It also trains imams and deploys them both at home and abroad. Its foundation is active in 150 countries and reaches millions of people through educational programs and scholarships worldwide. The Quran is written in Arabic. Translations are essential to making the text accessible to millions, including those in Turkey Image: Godong/Imago Images New authority over Quran translations In recent years, the Diyanet's powers have expanded. Most recently, a new law that went into effect on June 4 granted the authority to interpret translations of the Quran. If these "do not correspond to the basic characteristics of Islam," they may be banned. "Problematic copies" that have already been published can be confiscated and destroyed. This also applies to digital texts, audio, and video recordings online. Previously, President Erdogan had granted this authority by decree, which allowed the Diyanet to classify some translations as "untruthful." But the decree was struck down by the Constitutional Court. But the new law has ensured that the Diyanet's power would indeed be constitutional. Critics allege censorship In Muslim-majority countries, heads of state regularly invoke Islam to justify their actions. For example, in Iraq, the once secular Saddam Hussein used religious tenets to justify his autocratic measures and war with Iran. In Saudi Arabia, Crown Prince Mohammed bin Salman has been accused of using the push for more religious openness as an excuse to crack down on his political opponents. And as the Middle East Institute has noted, Erdogan's political party, the Justice and Development Party, or AKP, "maintains the loyalty of its base through a historical narrative of religion and nationalism." Now theologians critical of the government allege that Turkey's new law amounts to censorship, calling it state-enforced Islam that endangers religious freedom. For well-known theologian Sonmez Kutlu, it is a declaration of bankruptcy by the state. A country with over 100,000 Diyanet employees and more than 100 theology faculties should be able to protect the Quran from allegedly problematic translations via intellectual and scientific methods rather than bans, he says. He also warns that publications containing translated verses that allegedly "contradict the fundamental characteristics of Islam" could also lead to investigations and prosecutions. The Quran translation by Ihsan Eliacik has already been classified as 'problematic' and banned. Eliacik is one of the theologians who are critical of the Diyanet Image: ANKA Theologian Ihsan Eliacik sees the Diyanet's new authority as a fundamental violation of the faith. "In Islam, no institution is allowed to stand between people and Allah. However, the Diyanet's review of the Quran for 'truthfulness' does exactly that," he says. Eliacik's own translation of the Quran was previously banned by the Diyanet. He appealed to the Constitutional Court and won. But under the new legal provisions, taking action like this is no longer possible. Religious orders gain influence In recent years, Eliacik, Kutlu and other theologians critical of the government have repeatedly been the target of smear campaigns by pro-government brotherhoods and Islamist orders. Omer Ozsoy, theology professor at the Goethe University in Frankfurt, suspects the growing influence on the government from these religious orders is behind the new law. "These circles have been openly opposing academic, critical and pluralistic theology at Turkey's Islamic theological faculties for around a decade," Ozsoy says. He has observed how they "have been conducting systematic campaigns against high-profile theologians for some time." Ozsoy fears that the new law could be broadly applied with repressive and politically motivated interpretations. "Translator colleagues report that the Diyanet has already prepared to impound a total of 12 translations, including those by Mustafa Oztürk and Edip Yuksel," he adds. Opinion research institute KONDA reports that the proportion of people in Turkey who describe themselves as religious has fallen from 55% in 2018 to 46% today Image: Shady Al-Assar/ZUMA/picture alliance The role of translations The Quran is written in Arabic. Translations of Islam's holy book are essential to making the texts accessible to millions of people. However, they also contain interpretations, especially in the case of ambiguous words or passages, making them a sensitive topic. The importance of Quran translations in non-Arabic-speaking countries such as Turkey has increased in recent years. In the past, explained Ozsoy, "it was up to religious scholars to deal with the Quran." Today, however, things are different, he said. "Today, lay believers read the Quran directly and interpret it independently," adding that this is due to critical thinking and the emergence of various movements and social currents. According to Ozsoy, the number of Turkish Quran translations has increased in recent decades. Among the translators there are many without professional qualifications. This problem is widely discussed among experts and there is extensive academic literature on the subject. Observers suspect the influence of Islamist orders behind the new law. Here, President Erdogan visits the Ismail-Aga order in Istanbul in 2020 Image: ANKA More non-believers Religion has become a focal point of Turkish social discourse. Young people in particular are engaged in reading scripture and questioning many theories — a cause for concern within the government. President Erdogan has emphasized repeatedly that he wants to raise a "pious generation." However, recent studies by the opinion research institute KONDA show the opposite: The proportion of people who describe themselves as religious has fallen from 55% in 2018 to 46% now, while the proportion of atheists or non-believers has risen from 2% to 8% in the same period. This article was originally written in German.

South Korea: Liberal candidate Lee wins election – DW – 06/03/2025

03-06-2025

South Korea: Liberal candidate Lee wins election – DW – 06/03/2025

Skip next section Exit polls forecast landslide victory for Lee Jae-myung and liberals 06/03/2025 June 3, 2025 Exit polls forecast landslide victory for Lee Jae-myung and liberals A joint exit poll conducted by South Korean broadcasters KBS, MBC and SBS on Tuesday suggests that liberal candidate Lee Jae-myung will win the country's presidential election. The most recent tabulations, with about 78% of votes counted, have Lee taking 51.7% of the tally and conservative challenger Kim Moon Soo scooping up 39.3%. A spokesman for Lee's Democratic Party said voters had issued "a fiery judgement" of the previous government. A co-chair from the Conservative party expressed "shock" at the result.

South Korea election: Exit polls predict victory for Lee – DW – 06/03/2025