US inflation rises in August as firms pass Trump tariffs cost on to consumers

New CPI update shows prices increased 2.9% over the last year, but Wall Street optimistic Fed will cut interest rates

Primark owner’s boss warns Reeves not to give consumer sentiment ‘another great whack’ in budget

George Weston, CEO at ABF, also said food price inflation had peaked and would now start to ease

Key figures from No 10 and No 11 appointed to group include Torsten Bell, new economic adviser Minouche Shafik and comms chief Tim Allan

Fall to £40.9m in first six months of year pushes share price down, with order book lower than year ago

Rain Newton-Smith tells chancellor ‘the time for tinkering is over’ and revisit promise not to raise taxes on working people

Revision highlights recent concerns about the health of the labor market, and follows a lackluster August jobs report

Warm weather and interest rate cut lift sales in August, as food, drink and computers perform strongly

Europe and US consider further actions to weaken Russia after largest-ever air attack on Ukraine over the weekend

Former science secretary promoted in reshuffle to continue UK efforts to revitalise trade relationship with Beijing

President alters demands on a whim, and although investors are averting eyes for now, risks rise with each chaotic week

Issue creates clear dividing line between left and right, as populists target voters with vow to scrap levy

Older people would save anyway if state support was more limited, and overhaul of council tax would net billions more

Latest report also contained more bad news – the US lost 13,000 jobs in June, according to latest survey

August’s report gave signs of a cooling labor market with negative job numbers for the first time since 2020 – here’s what we learned

Disappointing US jobs report shows hiring slowed sharply this summer