Energy is cheaper than at its peak in late April, but gas is still nearly $1 a gallon more expensive than before the Iran warUS consumer prices cooled slightly in July as the annualized inflation rate dipped down to 3.4%, though prices still remain higher than levels seen before the war with Iran.Though inflation decreased 0.7 percentage points in June during a brief ceasefire between the US and Iran that brought energy prices down, consumer prices have remained elevated. Price increases hit a three-year high in May, with annual inflation reaching 4.2%. Continue reading...

12 Aug 2026 12:39 ✍️ RSS THE GUARDIAN

Falling water levels linked to weather system are expected to limit number of slots to transit shipping laneCommercial ships travelling through the Panama canal are facing a rise in costs amid disruption triggered by the Iran war and falling water levels linked to this year’s intense El Niño weather system.Highlighting the fragility of global trade, a container ship reportedly paid about $4m (£3m) to jump a queue of vessels waiting to pass through the vital maritime choke point. Continue reading...

12 Aug 2026 12:26 ✍️ RSS THE GUARDIAN

Exclusive: England ‘desperately unprepared’ for effects of crisis including water shortages and heatwavesUK heatwave live – latest updatesJust 20 staff are working on climate adaptation within a key government department tasked with protecting the environment and maintaining food security, a freedom of information request has revealed.The officials make up 0.3% of staff within the Department for Environment, Food and Rural Affairs. Continue reading...

12 Aug 2026 09:36 ✍️ RSS THE GUARDIAN

Verdant thinktank says cost could top £25bn a year by 2030 and calls for maximum temperature for working and urban redesign to cool down citiesRepeated debilitating heatwaves this summer are likely to have cost the UK economy more than £4bn in lost economic output by the end of July, new analysis shows.Green thinktank Verdant had suggested June’s unseasonally hot weather had an economic cost of £2.36bn. Updating its assessment to include last month’s high temperatures, it finds a £4.4bn hit to output. Continue reading...

12 Aug 2026 04:00 ✍️ RSS THE GUARDIAN

Barclays says survey shows people feel more secure in jobs and have more leeway to spend on non-essentialsConsumer confidence hit its highest level in almost two years in July, according to research that indicated the closing stages of the men’s football World Cup and more people holidaying in the UK raised summer spending.A truce in the Middle East conflict in June and the arrival of a new prime minister in No 10 also gave a lift to consumers after a long period of heightened uncertainty. Continue reading...

11 Aug 2026 06:00 ✍️ RSS THE GUARDIAN

John Healey should equalise the tax break on pension savings to stop inequalities from wideningPrivate pensions are a privilege for the lucky few and a curse for everyone else. Sold as a saviour for what would otherwise be a ruinous old age, they have become pernicious financial vehicles that allow an older generation to hoodwink younger generations, who also seek security in their latter years.To make matters worse, saving by the better off is enhanced by state subsidies, widening the divide between rich and poor in retirement while driving a wedge between the generations. Continue reading...

08 Aug 2026 15:00 ✍️ RSS THE GUARDIAN