Britain is suffering from the highest price rises in the G7, new figures show, as fears of even higher inflation mount. Prices rose by 3.5pc in the UK in November, which was far higher than the rate in any of the other seven major wealthy nations and nearly triple the rate of inflation in France, according to analysis by the Organisation for Economic Cooperation and Development (OECD). Inflation over the same period was 2.9pc in Japan, the G7 country with the second highest rate. Prices rose by just 1.3pc in...

The pound has plummeted to its lowest level against the US dollar in over a year as government borrowing costs continue to soar, piling more pressure on Labour regarding their fiscal plans. Sterling took another hit on Thursday morning amid a deepening rout in UK government bonds, also known as gilts, with the pound dropping nearly 1% to just under 1.23 US dollars - its lowest level since November 2023. Yields on government bonds, which reflect the cost of government borrowing, continued to rise, up eight basis points to 4.89...

The pound has tumbled to its lowest level against the US dollar for over a year as government borrowing costs surged further, heaping yet more pressure on Labour over its fiscal plans. Sterling weakened again on Thursday morning amid a deepening rout in UK government bonds – also known as gilts – with the pound falling nearly 1 per cent to just under $1.23 US dollars – its lowest level since November 2023. Yields on government bonds – which reflect the cost of government borrowing – continued to rise, up...

The British pound fell to its lowest since late 2023 on Thursday, extending losses from recent days, coming amid pressure from a selloff in global bonds that has driven the U.K. government's borrowing costs to their highest in over 16 years, which has reignited concern about U.K. finances. Sterling was last down 0.6% at $1.2295, having touched its lowest since November 2023 earlier in the day, while the cost of hedging against bigger price swings over the coming month jumped to its highest since the March 2023 banking crisis. Global...