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The Latest Breaking News from Office for National Statistics

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

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

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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

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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

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

The Guardian - UK

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

Millions more are at risk of developing the condition

Evening Standard

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

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

The Guardian - UK

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.

International Business Times

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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.

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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

The Guardian - UK

UK pay growth slows less than expected as workers bid up wages

December figures prompt predictions Bank of England may cut interest rates later than previously expected

The Guardian - UK

The Body Shop UK falls into administration; UK wage growth and US inflation hit rate cut hopes – as it happened

The Body Shop has collapsed into administration in the UK, less than three months after it was taken over by a private equity company

The Guardian - UK

Monday briefing: From the UK to South Korea, why people are having fewer babies

In today’s newsletter: Birthrates are falling – and many of the reasons are the same across the world

The Guardian - UK

Recession verdict for UK economy will be no laughing matter for Hunt and Sunak

Figures on GDP, wages and inflation this week are set to offer Labour plenty of scope for criticising Tories’ economic competence

Evening Standard

As high interest rates lead to home repossessions, London will be hit hardest

City Comment: Along with unemployment, home repossession is probably the most distressing symptom of recession.

The Guardian - UK

Labour formally drops £28bn green pledge and blames Tories for ‘crashing the economy’ – as it happened

The announcement ends weeks of speculation about the policy

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