Business
UK inflation dips in March, potentially paving the way for another interest rate cut
The Old Royal Naval College in Greenwich frames buildings in London’s financial area Canary Wharf, in London on March 27. (AP)
LONDON, April 16, (AP): Inflation in the United Kingdom fell for the second month running in March largely as a result of lower prices at the pump, official figures showed Wednesday, a move that is likely to pile pressure on the Bank of England to cut interest rates next month. The Office for National Statistics said consumer prices rose by 2.6% in the year to March, down from 2.8% the previous month.
The decline was bigger than anticipated, with most economists predicting a more modest decline to 2.7%. However, inflation remains above the Bank of England’s target of 2% and is set to rise to over 3% in April due to a confluence of factors, including higher domestic energy bills as well as the potential impact of higher taxes and labor costs for businesses, which are likely to pass some costs on to customers.
Still, most economists think the bank can lower its main interest rate from 4.50%, as the peak in inflation is likely to be lower than previously thought, not least because US President Donald Trump’s tariff policies are likely to depress global growth and hence prices. One impact of Trump’s tariff plans has been lower oil prices, which will have a downward effect on inflation.
“An interest rate cut in May looks increasingly nailed on, and the path to more easing in the second half of the year is getting clearer,” said Luke Bartholomew, deputy chief economist at asset management firm Aberdeen. Inflation is way down from levels seen a couple of years ago, partly because central banks have dramatically increased borrowing costs from near zero during the coronavirus pandemic.
Prices then began to shoot up, first as a result of supply chain issues and later because of Russia’s full-scale invasion of Ukraine, which pushed energy costs higher. As inflation rates have declined from multidecade highs, central banks, including the US Federal Reserve have started cutting interest rates, though few, if any, economists think that rates will fall back to the super-low levels that persisted in the years after the global financial crisis of 2008-2009 and during the pandemic.
KUWAIT CITY, Sep 16: As of September 16, 2025, Carrefour has officially announced that it will cease all operations in Kuwait. In a message to customers, the management expressed “sincere gratitude” for decades of support and patronage. Carrefour was introduced to the Middle East region in 1995 by Majid Al Futtaim (MAF), which secured exclusive franchise rights and has since operated Carrefour stores in multiple countries, including Kuwait.
In Kuwait, before this closure notice, Carrefour had been expanding. In February 2022, Carrefour (owned by MAF) opened its ninth supermarket in the country in the Khairan area, offering about 15,000 local and imported items.
In Oman, Carrefour ceased operations effective January 7, 2025, as announced by Majid Al Futtaim. The closure was followed by the launch of a new chain called HyperMax to replace Carrefour stores there. Similarly, in Bahrain, Carrefour operations ended as of September 14, 2025, and again, Majid Al Futtaim replaced them with its HyperMax brand. The change also involved local partners, suppliers, and about 1,600 employees.
KUWAIT CITY, Sep 16: As of September 16, 2025, Carrefour has officially announced that it will cease all operations in Kuwait. In a message to customers, the management expressed “sincere gratitude” for decades of support and patronage. Carrefour was introduced to the Middle East region in 1995 by Majid Al Futtaim (MAF), which secured exclusive franchise rights and has since operated Carrefour stores in multiple countries, including Kuwait.
In Kuwait, before this closure notice, Carrefour had been expanding. In February 2022, Carrefour (owned by MAF) opened its ninth supermarket in the country in the Khairan area, offering about 15,000 local and imported items.
In Oman, Carrefour ceased operations effective January 7, 2025, as announced by Majid Al Futtaim. The closure was followed by the launch of a new chain called HyperMax to replace Carrefour stores there. Similarly, in Bahrain, Carrefour operations ended as of September 14, 2025, and again, Majid Al Futtaim replaced them with its HyperMax brand. The change also involved local partners, suppliers, and about 1,600 employees.
Majid Al Futtaim launches HyperMax in Kuwait
Sahel hits 111m transactions, 2.9m users in 4 years
From Ahmadi Fish Stalls To Farwaniya Fake Goods Shops Shut Down In Kuwait
-
Latest News21 hours agoKuwait underscores role in postal sector at UPU Congress
-
Business15 hours agoMinister calls for regulatory reform in Kuwait’s delivery industry
-
Latest News20 hours agoKUNA team visits Kuwait Times and Kuwait News
-
Latest News19 hours agoOver 4.1m textbooks distributed as Kuwait begins new academic year
-
Politics17 hours agoExpats Caught Fleeing With Stolen Transformer Cables In Khaitan
-
Politics15 hours agoFirefighting teams contain blaze at shops in Al-Abdali area
-
Business9 hours agoKuwait-Bangladesh trade relations deepen as imports nearly double since 2014
-
Latest News24 hours agoFrench Embassy honors Kuwaiti academic with prestigious award