Could have been a curtain call for the government Inflation eased to 2.3 percent, instead greeted with a sharp intake of breath. Markets believe it will be better, with a consensus of 2.1 percent. As a result, a June interest rate cut now looks less likely, not more likely. Meanwhile, voters still paying the consequences of double-digit price increases and higher mortgage repayments don’t seem to be in a thankful mood yet.
A fall in inflation is largely due to a A decline in the energy price range, which has fueled cheaper gas and electricity bills, down from £3,116 to £1,690 a year last spring. What worries the Bank of England and the Treasury, however, is that services inflation barely eased, while core inflation, which strips out more volatile items such as food and energy, fell less than expected.
The problem for the government is that, despite improving economic data, it is not yet fast enough to make immediate interest rate cuts or borrow from voters. With a long election campaign ahead, Rishi Sunak must hope this is not a case where the public has stopped listening.
A summer of female art
Forget today’s drizzle, a summer of culture awaits in the capital. The front page of the Standard belongs to Judy Chicago, who toasts a seven-decade career with an exciting retrospective at the Serpentine Gallery. Chicago is as radical, colorful and pioneering as ever, rising to prominence in the sixties and challenging the male-dominated art world.
Today, the capital is filled with performances by female artists. Tate Modern has Yoko Ono, while Tate Britain has a major show on women artists from 1520 to 1920, soon to follow with its acclaimed Women’s Rebellion! Art and Activism in the UK Exhibition. Chicago’s exhibition, Revelations, brings together new, lesser-seen and classic pieces that challenge and delight viewers. Well worth a stroll to Kensington Gardens.
Chelsea merry-go-round
Summer is traditionally the time for Punch and Judy shows. But if you want a real aquatic farce, head to Stamford Bridge for the Tad Bohli and Behdad Ekbali experience.
There are Chelsea owners He was sacked by manager Mauricio Pochettino after one season, despite a strong finish. Pochettino will be fine, at least with a handsome compensation package.
But even if Chelsea fans are used to the managerial merry-go-round, the period of stability is welcome. It can even produce results – as long as the person does whatever the owners tell them to do.