Economy
The Bank, the markets, prices and pay: the British economy, reported with the numbers checked.
Business confidence sinks to 17-month low as energy costs bite
Lloyds’ monthly barometer fell 12 points in September, with executives’ view of the global economy darkening as the Iran war pushes up costs.
Diesel hits record 199.18p a litre as Healey opens talks with US over export ban threat
The Chancellor told the BBC that pump prices were ‘extreme’ and that Britain was discussing a possible American diesel export ban with Washington, as the RAC warned prices had entered uncharted territory.
What the earnings figures mean for the state pension triple lock
Pay growth of 3.9 per cent sets a floor under next April’s uprating, but the final figure waits on September’s inflation data.
Chancellor names two new faces to the Bank of England’s Court
David Craig and Paul Nowak will serve on the Bank’s governing body until August 2030; Hanneke Smits joins in January.
Bank of England holds rates at 3.75% as three policymakers vote for a rise
A 6-3 split on the Monetary Policy Committee kept Bank Rate on hold, with the minority favouring an increase to 4 per cent against inflation running at 3.1 per cent.
Inflation climbs to 3.1% as fuel and transport costs bite
Consumer prices rose 3.1 per cent in the year to August, up from 2.9 per cent in July, with transport inflation running at 4.6 per cent.
Unemployment holds at 4.9% but vacancies slide as the labour market cools
Pay growth slowed to 3.5 per cent and vacancies fell to 702,000, while payroll and survey data told increasingly different stories about jobs.
House prices tell two stories as Lloyds and Nationwide diverge
Lloyds reported the first annual fall in prices since November 2023; Nationwide recorded a 1.6 per cent annual rise. Both agree on one thing: the market is barely moving.