Pay growth slows to two-year low as jobless rate edges down
The ONS said regular wage growth fell to 5.1% year on year over the three months to July, marking the lowest level since the quarter to July 2022.
The ONS said regular wage growth fell to 5.1% year on year over the three months to July, marking the lowest level since the quarter to July 2022.
The new Labour Market Advisory board is initially focusing on Britain’s long-term sickness as figures show worryingly high levels of inactivity.
The timing of the reported increase would be unhelpful for pensioners struggling to make ends meet over the winter, one expert said.
The Educational Institute of Scotland will hold a consultative ballot for members.
The PA news agency answers questions on the latest information about support for infected blood scandal victims.
Richard Warwick described the figure as a ‘kick in the teeth’ and said he is considering taking legal advice.
The Government said it had accepted the ‘vast majority’ of Sir Robert Francis KC’s recommendations.
The Institute for Fiscal Studies said it found ‘cheapflation’ between 2021 and 2023 hit households with tighter budgets.
While inflation hit 2.2% in June, signs of easing pressure in the services sector fuelled hopes of more rate cuts by the Bank.
Items that have seen a slowing of inflation include crisps, coffee, eggs and bread.
Inflation ticked up in July versus previous months, indicating that prices are increasing slightly faster than they were in May and June.
The Institute for Fiscal Studies said it found ‘cheapflation’ between 2021 and 2023 hit households with tighter budgets.
The latest figures mean prices are rising faster across the country than in May or June, but still at a slower rate than in 2022 and 2023.
City economists expect the headline inflation figure to lift above the Bank of England’s target in Wednesday’s data, which relates to July.
The UK’s second-largest grocery business also backed calls for a 20% cut in business rates for retail businesses.