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UK inflation rate unchanged at 2.7%

UK inflation rate unchanged at 2.7% | Macroukeconomics in the | Scoop.it
The UK's inflation rate remained at 2.7% in September, official figures show, as a fall in fuel prices was offset by upward pressure from air fares.
Ollie Metcalfe's insight:

Prices are still rising faster than wages, therefore inferior goods are popular and luxury goods are less so.

The increase in the RPI will leave many businesses wondering whether they will be able to stay open.

Hopefully soon the target unemployment rate of 7% will be reached, allowing the inflation rate to fall to 2%.

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UK GDP announcement

UK GDP announcement | Macroukeconomics in the | Scoop.it
The first official estimate on how the economy has performed in the three months to the end of September is published today.
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UK unemployment rate steady as claimant count falls fastest in 16 years - Telegraph

UK unemployment rate steady as claimant count falls fastest in 16 years - Telegraph | Macroukeconomics in the | Scoop.it
Jobless rate remains at 7.7pc and squeeze on households intensifies but sharp drop in those claiming jobseekers allowance boosts recovery hopes
Ollie Metcalfe's insight:

Claimant count falling shows that economy is getting better, however with the average annual pay rise almost 2% below the rate of inflation people possess less spending power.

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