Essay on Spanish: Core Inflation

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UK inflation rate down to 1.5% as food and petrol costs fall (measured by the consumer prices index)
Food prices fell by 1.1% over the last year (steepest annual fall in more than 10 years) in part due to competition between supermarkets.
Inflation slowed slightly to 1.5% in August from 1.6% the previous month.
However core inflation, which doesn’t include food, alcohol, tobacco and energy, rose 1.9%.
Falling inflation gives Bank Of England greater leeway as it targets inflation of 2% and generally raises interest rates when feared to rise about that level.

Phones 4u to go into administration after EE and Vodafone cut ties (15th September)
It was heavily indebted and so when network operators withdrew their support, it had nothing left to sell.
Thousands of jobs are now at risk as the company employs over 5,500 people in standalone stores.

Vodafone will be taking on Phones 4u stores (19th September)
They will be taking over and rebranding 140 stores, so just under 900 jobs will be preserved, but 628 HQ jobs will be cut.

Six regions hit new house price peak, says ONS
The average UK house prices were up 11.7% in July

Labour minimum wage promise would see £8 per hour rate by 2020
Ed Miliband said it was not good enough that 1 in 5 people were low on pay.
In October the minimum wage will be rising from £6.31 to £6.50 – an above- inflation increase (3%). It will be the first time in six years that the rise is higher than inflation.

UK jobless rate

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