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Retail prices

Retail price inflation down to 2.4%

In September, the Retail Prices Index (RPI) stood at 291.0 (January 1987=100) and the annual rate of inflation fell to 2.4% from 2.6% in August. RPI inflation is now at its lowest since November 2016.

Under the Consumer Prices Index Housing (CPIH), the annual rate of inflation in August was steady at 1.7%.

Similarly, the annual rate of inflation under the Consumer Prices Index (CPI) was steady at 1.7%.

Figures for October 2019 are due to be published on 13 November 2019.

Latest pay deals

2.5% pay increase in the three months to September 2019

The median increase in pay in the three months to September 2019 was 2.5%. The median increase in the lowest pay rate was higher at 2.7%.

Figures for October 2019 are due to be published on 13 September 2019.

Pay deals are calculated from Payline database of over 2,000 pay and conditions settlements. graph of pay settlements and inflation

Average earnings

Growth sticks at 3.8%

In the year to August 2019, average weekly earnings for the whole economy, excluding bonuses, provisionally increased by 3.8%, the same increases as the revised figure for July.

Growth in the August headline rate (the latest three-month average) for regular pay, excluding bonuses, was 3.8% against 3.9% for July, according to the Office for National Statistics.

Headline average earnings growth in manufacturing was steady at 2.5%, while for services it was down to 3.9% from 4.0% in July.

In the private sector as a whole, growth was steady at 4.0%.

In the public sector, excluding financial services, growth was cut to 3.4% from 3.5%.

Figures for September 2019 are due to be published on 12 November 2019.

Unemployment

Unemployment increases by 22,000

In the three-month period ending August 2019, UK unemployment under the Labour Force Survey count increased by 22,000 to 1,314,000 from 1,292,000 for the previous three-month period ending May 2019.

The unemployment rate also increased to 3.9% from 3.8%.

The Office for National Statistic's claimant count total includes people out of work and claiming Jobseeker's Allowance or Universal Credit.

In September 2019, under this experimental statistic, the claimant count increased by 21,100 to 1,192,600 from the revised figure for August of 1,171,500.

The increase in numbers was not enough to affect the joblessness rate which remained at 3.3%.

Figures for September 2019 (unemployment) and October 2019 (claimant count) are due to be published on 12 November 2019.
 

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