Inflation has slowed significantly but at 4% it remains higher than the Bank of England's 2% target. (Source: BBC News)
Annual average regular earnings growth for the public sector was 5.8% in October to December 2023, which is not as high as it has been in recent periods but remains relatively strong. (Source: Office for National Statistics)
The incomes of typical working-age households were on course to be 4% lower in 2024-25 than they were in 2019-20. This is considerably worse than the 1% income fall recorded between 2005-06 and 2010-11. (Source: The Guardian)
More than 56 per cent of low-income households reported not having enough money for either food or heating last year. (Source: The Independent)
The largest upward contribution to the monthly change in both Consumer Prices Index including owner occupiers’ housing costs (CPIH) and Consumer Prices Index (CPI) annual rates came from housing and household services (principally higher gas and electricity charges), while the largest downward contribution came from furniture and household goods, and food and non-alcoholic beverages. (Source: Office for National Statistics)