6:34 am, October 20, 2025
Inflation expected to jump to highest since January last year
Inflation is expected to increase to its highest level for 21 months as more pressure piles on the chancellor and the Bank of England.
Economists have predicted that Consumer Prices Index (CPI) inflation will have hit 4% in September, when the Office for National Statistics (ONS) reveals its latest data on Wednesday. It would mark the highest level since January 2024.
Inflation struck 3.8% in July and August amid pressure from rising food prices, as firms highlighted increased tax and labour costs.
Brexit impact on UK economy ‘negative for foreseeable future,’ Bailey says
Brexit will have a negative impact on the UK’s economic growth ‘for the foreseeable future’, Bank of England governor Andrew Bailey has warned.
The economy is, however, likely to adjust and find balance again in the longer term, Bailey, who was speaking at the G30 40th annual International Banking Seminar on Saturday, added.
The event in Washington, DC saw Bailey highlight a decline in the UK’s potential growth rate from 2.5% to 1.5% over the past 15 years. He linked this to lower productivity growth, an ageing population and trade restrictions – including post-Brexit economic policies.
Volkswagen bids farewell to Touareg SUV with new ‘Final Edition’ model
Volkswagen is celebrating the Touareg SUV’s last year of production with the ‘Final Edition’.
The Touareg first went on sale in 2002, and was based on the same platform as Porsche’s Cayenne SUV. But, three generations later and 1.2 million units sold worldwide, production of Volkswagen’s largest family-focused SUV will come to an end next year with no direct replacement.
Based on the Black Edition, the run-out special gains ‘First Edition’ lettering on the window surrounds, gear-lever, sill plates and dashboard. It comes in a special shade of blue, too; prices will be revealed later.
The markets
The FTSE 100 closed down sharply on Friday, although well above early lows, as investors weighed Thursday’s hefty falls on Wall Street sparked by fears surrounding US regional banks.
The FTSE 100 index closed down 81.52 points, 0.9%, at 9,354.57. It had earlier traded as low as 9,276.91. The FTSE 250 ended 208.40 points lower, 1.0%, at 21,782.96 while the AIM All-Share shed 17.24 points, 2.2%, to 772.65.
The pound was quoted lower at 1.3398 dollars at the time of the London equity market close on Friday, compared with 1.3429 dollars on Thursday.
Royals face further embarrassment as Virginia Giuffre’s memoir to go on sale
Prince Andrew and the royal family could face further embarrassment, with the imminent publication of Virginia Giuffre’s memoir in the week that the King is to pray with the Pope.
The Metropolitan Police said they would look into claims in the Mail on Sunday that Andrew had passed Giuffre’s date of birth and social security number to his taxpayer-funded bodyguard in 2011 and asked him to investigate.
He is also said to have emailed the late Queen Elizabeth II’s then-deputy press secretary and told him of his request to his protection officer, and also suggested Giuffre had a criminal record. A Met spokeswoman said: ‘We are aware of media reporting and are actively looking into the claims made.’
Thieves strike Louvre in jewel heist as world’s most-visited museum shuts
Thieves used a basket lift to reach the Louvre on Sunday morning and, as tourists were already inside, forced a window, smashed display cases and fled with jewels of ‘inestimable value’, France’s interior minister said.
The world’s most-visited museum closed for the day as police sealed gates and ushered visitors out during an investigation into the brazen, seven-minute strike.
The museum said forensic work was under way and that a precise inventory of the stolen objects was being compiled, adding that the items had ‘inestimable’ historical value.
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Weather
BBC Weather reports England, Wales and southeastern Northern Ireland will see cloudy conditions with scattered heavy showers today, while northern Scotland remains wet under persistent cloud. Other areas enjoy drier weather with sunny spells.
Tonight, showers ease for clearer skies across Britain, before cloud and new showers move into Northern Ireland from the west.
