Phillip Inman

London

Economics Editor and Writer at The Guardian

Economics editor - The Observer. Also economics writer for The Guardian. Author of Guardian e-book The Financial Crisis - How Did We Get Here

Articles

Reeves says inflation fall shows ‘plan for change is working’ - UK politics live

1 week ago | theguardian.com | Martin Belam |Phillip Inman

Reeves: inflation figures are latest 'encouraging sign that our plan for change is working'Speaking about the latest inflation figures, chancellor Rachel Reeves said there were “encouraging signs that our plan for change is working.”UK inflation dropped to 2.6% in March, meaning prices are rising slightly more slowly.
UK inflation falls to 2.6%, increasing pressure on Bank to cut interest rates

1 week ago | theguardian.com | Phillip Inman

UK inflation dropped to 2.6% in March, increasing the pressure on Bank of England policymakers to cut interest rates next month. Prices growth was weak ahead of an expected rise in April as households begin to pay higher council tax and utility bills. Last month’s reading came in belowCity forecasts of a fall to 2.7%. It comes after the consumer prices index fell in February to 2.8%, down from 3% in January, after clothing costs cooled.
US stock markets expected to recover after Trump drops tariffs on mobiles

1 week ago | theguardian.com | Phillip Inman

US stock markets were expected to stage a recovery on Monday after Donald Trump excluded imports of smartphones and laptops from his tariff regime late on Friday night. Shares in Apple and chip maker Nvidia were on course to soar after tariffs on their products imported into the US were lifted for 90 days. The temporary reprieve was widely seen as a climbdown after pressure from Republican leaders concerned that the soaring cost of smartphones would spark a voter backlash.
Rachel Reeves calls for global free trade fightback to protect UK economy

1 week ago | msn.com | Toby Helm |Phillip Inman |James Tapper

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Why does British Steel need to be rescued by the government and what happens next?

1 week ago | theguardian.com | Phillip Inman

Who owns British Steel? The company has been through several owners since it was privatised in the 1980s. The latest, Jingye, was welcomed by then prime minister Boris Johnson in 2019 after private equity firm Greybull had run the firm for three years. A glut of steel on international markets and the investment needed to upgrade the works to run on renewable energy has convinced the Chinese firm that Scunthorpe is not economically viable. Why has the government stepped in to rescue it?
Rachel Reeves calls for global free trade fightback to protect UK economy

1 week ago | theguardian.com | James Tapper |Toby Helm |Phillip Inman

The chancellor, Rachel Reeves, has set out the case for far-reaching changes to global trade and economic agreements, admitting that Donald Trump’s tariffs will have a “profound” effect on the UK and world economies that require a strong international response.
What are bonds and why have they spooked Donald Trump?

1 week ago | theguardian.com | Phillip Inman

Donald Trump’s tariff war has spooked stock markets and heightened fears of a recession in the US and Europe. But neither factor appears to have been what motivated the president’s sudden volte face this week, when he paused most of his “liberation day” border taxes for 90 days. The fact Trump could not ignore was a mass sell-off by investors of US government bonds. But what exactly are bonds, how are they traded – and why are they so central to the current crisis? What is a bond?
Trump’s tariff battle with China has ‘echoes of the Vietnam war’, US economist says

1 week ago | theguardian.com | Phillip Inman

A leading US economist has likened Donald Trump’s tariff battle with China to the Vietnam war, arguing that both sides will be caught in a quagmire and unable to find a face-saving exit. Adam Posen, the head of the Peterson Institute in Washington and a former Bank of England policymaker, spoke to the Guardian after penning an article for the US magazine Foreign Affairs.
UK economy far exceeds forecasts to grow 0.5% in boost to Rachel Reeves

1 week ago | ca.finance.yahoo.com | Phillip Inman

The UK economy unexpectedly expanded by 0.5% in February, figures show, in a boost for the chancellor, Rachel Reeves, before an expected downturn sparked by Donald Trump’s tariff war. The increase in gross domestic product in February was five times larger than the 0.1% that a poll of City economists had forecast, while January’s figure of a modest fall of 0.1% was revised up to 0.0% growth.
Growth figures ‘a dividend from stable government’, claims minister - UK politics live

1 week ago | theguardian.com | Martin Belam |Phillip Inman

UK economy grows by 0.5% but tariff war impact yet to comePhillip Inman is an economics writer for the GuardianThe UK economy unexpectedly expanded by 0.5% in February, according to official figures, in a boost for Rachel Reeves before an expected downturn triggered by Donald Trump’s tariff war.