Inflation falls to four-year low
The rate of Consumer Price Index inflation has fallen to a four-year low of 1.7% last month. The main factor in the decline was fuel prices. The rate of Retail Price Index inflation dropped to 2.7%.
Labour: Workers are still £1.6k a year worse off
Responding to today’s inflation figures, Labour welcomed the rise but said that prices are still rising faster than wages.
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Stage set for living standards to get better
Wages should begin to grow with the economy, setting the stage for living standards to improve, but there is a lot of ground to make up.
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Falling inflation could change the debate on the economy
Figures on rising private sector wages are politically explosive and could change the debate on the economy.