CPI inflation stood at 2.2% in the year to August 2024, unchanged from July, but RPI fell 0.1 percentage points.
Inflation
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The rate of UK unemployment has dropped to 4.1% this quarter, data from the Office for National Statistics (ONS) has revealed.
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The CPI, CPIH and RPI measures of inflation all increase in the 12 months to July 2024, to above the Bank of England target.
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Unemployment has fallen unexpectedly while wage growth continues to slow, new figures from the Office for National Statistics have revealed.
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Wage growth of permanent and part-time staff slowed in July and demand for workers steadied with the number of vacancies declining, new figures show.
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Impact of April’s 9.8% increase to NLW continues to affect the median pay award, currently almost three percentage points above inflation.
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Annual wage growth slows to 5.7% in the ONS July 2024 labour market statistics, the slowest rate since August 2022.
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Almost nine in 10 employees are worried about paying for basic living costs, and four in 10 ‘live payday to payday’, according to new research.
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Median basic pay award in the three months to the end of May 2024 increased slightly to 4.6%, according to Brightmine.
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UK unemployment increased to highest rate in two and half years, according to ONS labour market figures released in June 2024.
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Pay awards continue to run well above inflation in April 2024, but there are signs settlements are dropping.
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'Real' wages grew by 2.1% in the 12 months to February 2024, faster than any time in the previous 16 years.
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UK exits recession, with GDP figures showing that the economy has grown by 0.6% in January to March 2024.
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Survey finds only 30% of employers are prepared to award above-inflation pay rises this year, despite perceived responsibility to support employees.
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Analysis shows 1.4 million people face the ‘double jeopardy’ of working in severely insecure jobs while privately renting.