UK consumers are spending over £1 billion ($1.4 billion) a year on artificial intelligence subscriptions, with Anthropic eating into OpenAI’s lead, research showed on Thursday.

A new inflation measure developed by the Bank of England shows little sign yet that UK price pressures are building, offering some comfort to rate-setters at the central bank at their meeting this week.

UK interest rates are not bearing down on inflation as much as the Bank of England thought, according to new research that strengthens the case for a hike in borrowing costs this week.

With UK inflation heading toward 4% and no end to the Iran war in sight, a Bank of England interest-rate hike on Thursday is seen as all but a done deal. How many more Governor Andrew Bailey and his colleagues deliver is where economists and investors sharply diverge.

For most of this year, the Bank of England argued that interest rates were probably high enough to bear down on inflation. Now it’s not so sure.

UK businesses do not expect to hand staff bigger pay rises despite the uptick in inflation, a sign that a subdued labor market is helping to contain price pressures.

Chancellor of the Exchequer John Healey had to tread carefully in his debut budget this week, given the state of Britain’s public finances. A year from now, however, he could find himself standing at the despatch box with billions of extra pounds at his disposal.

Britain’s efforts to protect millions of its households from rising energy costs this winter will have barely any effect on the overall level of inflation, the country’s fiscal watchdog said.

UK businesses could face an increase in the minimum wage of more than 5% next year unless Chancellor of the Exchequer John Healey decides to spare them another painful hike, according to estimates ahead of the budget on Wednesday.

Bank of England officials are sending their most hawkish signals in over three years, laying the ground for an interest-rate hike as early as next month.

A two-speed economy has emerged in Britain, where businesses are defying the gloom while consumers buckle under the strain of a deepening energy crisis.

Young Britons are being squeezed out of high-paying industries such as tech and finance, according to new research that lays bare the jobless crisis hitting Generation Z.

The UK’s tax authorities are worried that artificial intelligence is giving people bad advice.

UK inflation hit an 11-month high after a surge in petrol and diesel costs, a surprisingly large increase that leaves the Bank of England on track for its first interest-rate hike in more than three years.

Bank of England rate-setter Megan Greene warned that an easing in UK wage pressures has stalled, suggesting that the labor market is stronger than officials had thought.

While the Bank of England is busy stress testing the UK’s private markets, another threat is looming in the minds of regulators.

A pickup in UK inflation to a nine-month high in data this week is likely to set the stage for key decisions from the upcoming budget to a likely interest-rate increase.

Britain’s economic output is far less energy-intensive than it once was.

UK businesses are looking to absorb the energy shock and cut costs rather than hike prices for consumers, Bank of England Deputy Governor Sarah Breeden said as two other officials appeared to make the case for interest-rate hikes.

Britain’s economy unexpectedly grew in August, as businesses continued to hold up in the face of rising energy prices and painfully high borrowing costs.