UK inflation hits 20-month low
But commentators still bracing for Brexit-related squeeze on household spending
But commentators still bracing for Brexit-related squeeze on household spending
Sterling was up against the dollar this morning as wages grew faster than expected, according to the Office for National Statistics (ONS).
The UK saw another month of weak retail sales that lagged consensus expectations in January, confirming that the long-term trend is toward a “slowdown”.
Consumer price index (CPI) inflation remained at 3% in January, defying the consensus view that it would marginally dip to 2.9%.
Average weekly household spending rose to its highest level since 2006 for the financial year ending 2017, as retail sales for December declined.
Having hit 3.1% in November, the Consumer Prices Index (CPI) 12-month rate fell to 3% in December, prompting suggestions UK inflation may have peaked.
UK productivity saw its largest gain in almost six years in the third quarter of 2017, according to the Office for National Statistics.
The UK economy grew 0.4% between July and September this year according to the latest figures from the Office for National Statistics, but year-on-year quarterly GDP growth fell to its lowest rate in four years.
The latest figures on employment and wages released Wednesday morning suggest an improving picture for UK workers.
November inflation has breached the 3% mark for the first time in nearly six years, but has it reached its peak?
While UK retail sales registered a monthly increase of 0.3% between September and October, annually they dropped 0.3% according to the Office for National Statistics (ONS).
Now may be the time to go defensive investors have argued after data revealed UK inflation held steady at 3% in October.