The Latest Breaking News from the Office for National Statistics

Retail sales volumes, which measure the quantity bought, decreased by 0.7% in October, the Office for National Statistics said.

Experts have also warned that Wednesday’s jump in inflation could bring further headaches for mortgage borrowers.

Experts warn that Wednesday’s jump in inflation could bring further headaches for mortgage borrowers

The Office for National Statistics said Consumer Prices Index inflation rose to 2.3% for October, from 1.7% in the previous month.

Inflation’s rebound to an annual rate of 2.3% today dealt a setback to the outlook for lower interest rates.

Data from the Office for National Statistics shows 316,000 new businesses were created in 2023, down from 337,000 the year before.

Gross domestic product (GDP) grew by 0.1% in the July-September period, a slowdown compared to 0.5% growth in the second quarter, the Office for National Statistics said.

GDP grew by a meagre 0.1% between July and September, slightly below expectations

As official figures showed economic growth stalling under Labour, Rachel Reeves said she wanted to boost trade with the US and ‘looks forward to working with president-elect Donald Trump’

The quarterly estimate was behind economists’ predictions and comes as a blow to Chancellor Rachel Reeves.

Deaths from drug use in England and Wales have risen by 11%, according to the latest annual data published by the Office for National Statistics (ONS). In 2023, there were 5,448 fatalities (93 deaths per million people) – the highest number of drug-related deaths since records began in 1993.