US carmaker to lay off 14% of its European workforce

Sterling rose after the higher-than-expected inflation figures were released, as did the yield – or interest rate – on government bonds.

The pound rose as much as 0.25%, and is now marginally higher at $1.2687.

With inflation rising again, we need some serious action to tackle the root causes of the cost-of-living crisis.

For a start, that means taking on the profiteers who have driven sky high prices and bringing the energy system back into public hands.