World
UK inflation hits 41-year high of 11.1%
In October, inflation in the United Kingdom reached a 41-year high of 11.1%, exceeding expectations as food, transportation, and energy prices continued to squeeze households and businesses.
This was disclosed by the Office for National Statistics on Wednesday.
The jump was higher than the Bank of England’s forecast for inflation to peak at 10.9% and more than five times the central bank’s 2% target.
Contributing factors: The report stated that rising food prices also made a large upward contribution to the change with transport (principally motor fuels and second-hand car prices) making the largest, partially offsetting, downward contribution to the change in the rates
In October, the sharp rise in the cost of living was caused by higher gas, electricity, and food prices despite the government’s energy price guarantee, which capped bills for gas and electricity at £2,500 for a household with average usage of both fuels.
The report said, “CPIH rose by 1.6% in October 2022, compared with a rise of 0.9% in October 2021.”
The Consumer Prices Index (CPI) rose by 11.1% in the 12 months to October 2022, up from 10.1% in September 2022. CPI rose by 2.0% in October 2022, compared with a rise of 1.1% in October 2021.
“Despite the introduction of the government’s Energy Price Guarantee, gas and electricity prices made the largest upward contribution to the change in both the CPIH and CPI annual inflation rates between September and October 2022,” the report added.
For the record: Inflation would have been 13.8% had the government not introduced an energy price guarantee that limited the increase, the ONS said.
Wage growth is lagging the increase in prices, delivering the sharpest squeeze in living standards in memory and putting pressure on Prime Minister Rishi Sunak’s government to act.
The inflation rate for low-income households was 11.9% compared with 10.5% for more wealthy ones.
Food price inflation rose sharply to 16.5% on an annual basis, the highest for 45 years, according to the ON.
World
Former US President Bill Clinton hospitalised with fever
Bill Clinton, the former US president who has faced a series of health issues over the years, was admitted to hospital Monday in Washington after developing a fever, his office said.
“President Clinton was admitted to Georgetown University Medical Center this afternoon for testing and observation after developing a fever,” the 78-year-old’s deputy chief of staff Angel Urena said on social media platform X, adding Clinton “remains in good spirits.”
Bill Clinton was previously hospitalized for five nights in October 2021 due to a blood infection.
In 2004, at age 58, he underwent a quadruple bypass operation after doctors found signs of extensive heart disease. He had stents implanted in his coronary artery six years later.
The health scare motivated him to make lifestyle changes, including adopting a vegetarian diet, and he has since spoken publicly about his efforts.
Clinton’s health last made headlines in November 2022 when he tested positive for Covid-19. He said at the time that his symptoms were “mild” and he was “grateful to be vaccinated and boosted.”
Clinton, who led the United States for two presidential terms from 1993-2001, is the second-youngest living US president, after 63-year-old Barack Obama.
He was born mere months after fellow former US president George W. Bush and President-elect Donald Trump.
Though his prosperous time in office was marred by scandals, he has enjoyed a second life in the two decades after his presidency, which has seen him venture into numerous diplomatic and humanitarian causes.
World
Trump dismisses claims of handing presidency to Musk as ‘hoax’
Could Elon Musk, who holds major sway in the incoming Trump administration, one day become president? On Sunday, Donald Trump answered with a resounding no, pointing to US rules about being born in the country.
“He’s not gonna be president, that I can tell you,” Trump told a Republican conference in Phoenix, Arizona.
“You know why he can’t be? He wasn’t born in this country,” Trump said of the Tesla and SpaceX boss, who was born in South Africa.
The US Constitution requires that a president be a natural-born US citizen.
Trump was responding to criticism, particularly from the Democratic camp, portraying the tech billionaire and world’s richest person as “President Musk” for the outsized role he is playing in the incoming administration.
As per ceding the presidency to Musk, Trump also assured the crowd: “No, no that’s not happening.”
The influence of Musk, who will serve as Trump’s “efficiency czar,” has become a focus point for Democratic attacks, with questions raised over how an unelected citizen can wield so much power.
And there is even growing anger among Republicans after Musk trashed a government funding proposal this week in a blizzard of posts — many of them wildly inaccurate — to his more than 200 million followers on his social media platform X.
Alongside Trump, Musk ultimately helped pressure Republicans to renege on a funding bill they had painstakingly agreed upon with Democrats, pushing the United States to the brink of budgetary paralysis that would have resulted in a government shutdown just days before Christmas.
Congress ultimately reached an agreement overnight Friday to Saturday, avoiding massive halts to government services.
World
Seven confirmed dead in Western Mexico plane crash
At least seven people died when a light aircraft crashed Sunday in a heavily forested area of Jalisco in western Mexico, local authorities reported.
The aircraft, a Cessna 207, was flying from La Parota in the neighbouring state of Michoacan.
Jalisco Civil Protection said via its social media that the crash site was in an area that was difficult to access.
Initial authorities on the scene “reported a preliminary count of seven people dead,” who haven’t been identified yet, according to the agency.
“A fire was extinguished and risk mitigation was carried out to prevent possible additional damage,” it added.
Authorities said they were awaiting the arrival of forensic investigators to remove the bodies and rule out the presence of additional victims.
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