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The Latest Breaking News from Office for National Statistics

UK government borrows more in February than forecast with highest debt since 1960s

Higher than expected figure of £8.4bn in February could derail OBR forecast for £114.1bn deficit for 2023-24

The Guardian - UK

Average UK house price £2,000 lower in January than a year earlier

The slowdown in Consumer Prices Index inflation could have positive impacts for mortgages and the housing market, experts said.

Evening Standard

Average monthly UK rent up 9% – the highest annual increase recorded

Cost of renting rises in all parts of the UK, ONS says, with the average monthly rent in England now £1,276

The Guardian - UK

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The fight against UK inflation is being won – but when will interest rates be cut?

Prices are still going up but the tide has turned, raising expectations the Bank of England may cut rates in response

The Guardian - UK

UK Businesses Will Save Money with New Sponsor Licence Rules

Running a business in the UK remains tricky in light of recent economic issues.

inkl

Money flowing out of London stock market at a record pace, new figures show

Of 17 European countries, only four have seen greater percentage outflows of money this year

Evening Standard

UK competition watchdog says ground rent ‘not necessary’; Metro Bank cutting 1,000 jobs – as it happened

CMA says government may need to step in to protect consumers from rising ground rents; watchdog intervenes to free over 500 households from ‘problematic’ ground rent clauses

The Guardian - UK

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Early interest rate cut in doubt amid ‘sticky’ wage growth

The Office for National Statistics (ONS) said regular wages rose at an annual rate of 6.1% in November to January, down only from 6.2% previously

Evening Standard

Vinyl revival sees it rejoin UK inflation basket for first time in 32 years

The virtual basket of hundreds of goods and services is rejigged every year to ensure it reflects current consumer tastes and trends

Evening Standard

Vinyl records return to UK inflation basket for first time since 1992

Strong sales of Taylor Swift’s 1989 (Taylor’s Version) help format make an impact, as air fryers also join list

The Guardian - UK

‘People have lost faith’: life in former mining towns 40 years on from strike

Conservatives’ closure of collieries tore communities apart, and four decades later memories from that period remain powerful

The Guardian - UK

Birthrate in UK falls to record low as campaigners say ‘procreation a luxury’

Total fertility was 1.49 children per woman in 2022 amid rising housing and childcare costs

The Guardian - UK

Divorces at lowest level in decades 'due to cost of living crisis'

Divorces granted in England and Wales reached their lowest level for 50 years, according to the latest statistics.

Evening Standard

Jeremy Hunt handed tax boost as UK posts record monthly budget surplus

Analysts say figures give chancellor slightly more leeway for tax cuts before general election

The Guardian - UK

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The Guardian - UK

BoE’s Dhingra warns against delaying interest rate cuts; ‘limited room’ for tax cuts after record UK budget surplus – as it happened

Rolling coverage of the latest economic and financial news, as UK’s budget surplus doubles year-on-year… and BT Tower is sold to hotel chain

Evening Standard

Third of Londoners living with type 2 diabetes are undiagnosed, figures show

Millions more are at risk of developing the condition

The Guardian - UK

Retail sales in Great Britain rebound strongly after Christmas slump

Rise of 3.4% in January is biggest monthly increase since April 2021 as shoppers return to stores

The Guardian - UK

UK retail sales rebound after Christmas slump; company insolvencies rise – as it happened

Rolling coverage of the latest economic and financial news, as retail sales in Great Britain rebound by 3.4% in January

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The Guardian - UK

Rishi Sunak warned against fresh austerity drive to finance tax cuts

Unions outraged as Jeremy Hunt said to be considering cutting public spending to balance books in next month’s budget

International Business Times

UK Economy Slides Into Recession Ahead Of Election

Britain is in recession, official data showed Thursday, dealing another blow to embattled Prime Minister Rishi Sunak, whose Conservative party is forecast to lose a general election expected this year.

Al Jazeera

UK economy slips into recession, official data shows

GDP shrank by 0.3 percent in the last three months of 2023, after contracting 0.1 percent in the third quarter.

The Guardian - UK

Signs of UK housing market recovery as price falls ease

Price of average property decreased by 1.4% in 12 months to December, says ONS

International Business Times

UK Inflation Holds At 4.0 Percent In January: Data

Higher gas and electricity bills were the main upward contributor to the rate, but this was offset by falling prices for furniture, food and non-alcoholic beverages.

Latin Times

UK Inflation Holds At 4% In January: Data

The Consumer Prices Index (CPI) stood at 4.0 percent last month, the Office for National Statistics (ONS) said in a statement.

The Guardian - UK

Wednesday briefing: How the Rochdale furore exposed claims of factionalism in Labour’s handling of antisemitism

In today’s newsletter: The party has disowned candidate Azhar Ali following his remarks about Israel and Gaza, with accusations of hypocrisy over antisemitism levelled at Starmer’s door

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