Art and antiques help lift retail sales in Great Britain to biggest monthly rise since 2024

January increase of 1.8% beats forecasts and was also driven by shoppers snapping up jewellery online

Retail sales in Great Britain rose 1.8% in January, the largest monthly increase in almost two years, according to official data, as heavy discounting and post-Christmas sales drew consumers back to bigger ticket purchases.

The rise easily beat forecasts of a 0.2% rise and was partly driven by sales of artwork and antiques sales in January, alongside continued strong sales from online jewellers, the Office for National Statistics (ONS) said. It was the biggest monthly rise since May 2024.

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UK government borrows more than expected in setback before budget

October figures represent final snapshot of public finances before Rachel Reeves’s tax and spending statement

Rachel Reeves was urged to use next week’s budget to create significantly more headroom against her fiscal rules, after official figures showed the UK government borrowed almost £10bn more than forecast in the year to October.

In the final snapshot of the public finances before the chancellor’s crunch budget, the Office for National Statistics (ONS) said borrowing – the difference between public spending and income – was £17.4bn last month.

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Signs of peak inflation open door to earlier Bank of England interest rate cuts

Policymakers under pressure for rethink after price growth in UK remained at 3.8% in September

Has UK inflation peaked? The latest official figures showing price growth in the UK stayed at 3.8% in September seem to suggest so.

The statement cannot be made with absolute certainty yet but many economists reacted to the latest consumer prices index (CPI) data with a message that the only direction for inflation over the rest of the year was down.

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UK inflation unexpectedly remains at 3.8% for third month in a row

Annual September rate confounds forecasts of a rise, as pace of food price growth slows for first time since March

UK inflation was unchanged last month at 3.8%, confounding expectations of a rise, in welcome news for the chancellor, Rachel Reeves, as she plans for her crucial budget next month.

The Office for National Statistics (ONS) said that inflation measured on the consumer prices index remained at the same level in September as in August and July.

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Lifetime of earnings not enough for UK workers to join wealthiest 10%, report says

Research finds it would take average worker saving all their earnings for 52 years to match wealth of richest 10th of society

It would take the average earner in the UK 52 years’ worth of earnings to become as wealthy as the richest 10%, according to new research by the Resolution Foundation.

In a new report, the influential thinktank analyses the Office for National Statistics’ latest wealth and assets survey, which covers the Covid pandemic period of 2020-22.

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Retail sales rise in Great Britain as warm weather boosts clothing purchases

Increase of 0.5% in August helped by back-to-school shopping, while food stores also given lift

Back-to-school shopping and warm weather helped to boost retail sales last month, according to the latest official data.

Total retail sales in Great Britain rose 0.5%, the Office for National Statistics (ONS) said, as parents prepared for the new school year and shoppers enjoyed a series of heatwave and the summer’s last bank holiday.

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School absence a big factor in child mental illness in England, data shows

Loughborough University and ONS study of 1 million school-age children reveals risks increase with longer absence

School absences “significantly contribute” to children’s mental ill health, according to research backed by the Office for National Statistics that shows the risks increase the longer a child is absent.

“Our research shows that the more times a child is absent from school, the greater the probability that they will experience mental ill health,” the authors, from Loughborough University and the ONS, concluded.

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UK gender pay gap underestimated for two decades, report says

Findings suggest since 2004 ONS failed to properly account for fact it received more data from larger employers

The UK’s gender pay gap has been underestimated for more than 20 years, according to research that could raise fresh questions about the quality of data used to inform key pay decisions across the UK.

The findings, released in the British Journal of Industrial Relations on Monday, suggest that, since 2004, the Office for National Statistics (ONS) had failed to properly account for the fact that it received more data from larger employers, when it reported its annual survey of hours and earnings (Ashe).

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Warm weather and live events give lift to retail sales in Great Britain

Shoppers flock to stores in June for food, drink and merchandise, and also go on short breaks

Sunny summer weather and a packed schedule of events including Wimbledon, concerts by Oasis and Beyoncé, and international cricket and football sent shoppers flocking to retailers and supermarkets last month.

Retail sales volumes in Great Britain rose by 0.9% in June, bouncing back from a sharp fall in May, although slightly below analyst consensus forecasts of a 1.2% month-on-month increase.

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UK unemployment rises and wage growth slows as jobs market ‘weakens’

ONS data shows jobless rate climbing to highest rate since June 2021 with growth in average earnings slowing to 5%.

Unemployment climbed and wage growth slowed in the three months to May, according to official figures that will pressure the Bank of England to cut interest rates next month.

Data from the Office for National Statistics, released on Thursday, showed that Britain’s official unemployment rate rose to 4.7% in the three months to May, up 0.1% from April to reach the highest level since June 2021.

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UK borrowing rises to £17.7bn, adding to pressure on Rachel Reeves

May figure second highest for month on record amid fears chancellor is struggling to keep within spending rules

Higher tax receipts were unable to prevent a rise in public sector borrowing in May to £17.7bn, up from £17bn a year earlier and the second highest for the month on record.

A poll of City economists had forecast public sector net borrowing – the difference between public spending and income – would be £17.1bn.

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UK inflation eases slightly to 3.4% as food price rises offset transport cost falls

Annual rate slows in May from 3.5% in April despite record increase in chocolate prices

Inflation in the UK eased slightly to 3.4% last month as a steep fall in air fares and petrol prices was offset by a jump in the cost of food.

May’s decline in the consumer prices index (CPI), down from the official figure of 3.5% for April, complicates the Bank of England’s interest rates decision on Thursday, although policymakers are still almost certain to hold interest rates at 4.25%.

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Net migration to UK down by half in 2024 compared with year before

Office for National Statistics estimate shows fall from 860,000 in 2023 to 431,000 last year

Net migration to the UK has nearly halved over the year to 431,000, the Office for National Statistics (ONS) has said, publishing figures that will bring some relief to Keir Starmer.

The drop from 860,000 in the year to December 2024 follows a series of policies implemented by the last Conservative government that have been continued by the present Labour government.

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Farage claims doctors ‘massively over-diagnosing’ children with Send and mental health conditions – UK politics live

Reform UK leader claims he is ‘not being heartless, I’m being frank’ as he states rising number of diagnoses is a ‘massive problem’

John Swinney, the first minister of Scotland, is attending the funeral of the Pope on Saturday, the Scottish government has announced. In a statement Swinney said:

His Holiness Pope Francis was a voice for peace, tolerance and reconciliation who had a natural ability to connect with people of all ages, nationalities and beliefs.

On behalf of the people of Scotland, I am deeply honoured to attend the funeral of Pope Francis in Rome to express my sorrow, thanks and deep respect for the compassion, assurance and hope that he brought to so many.

Eating the Tories for breakfast. @Keir_Starmer

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From homework to housework, how British attitudes have changed since the 1930s

Study shows women today are happier being women – but getting up to go to work remains as punishing as ever

The mundane tasks of everyday life, such as homework after school and household chores at the weekend, may not have changed in the past 80 years, but societal attitudes towards them could not be more different.

A study by the Policy Institute at King’s College London (KCL), comparing public attitudes now and in the 1930s and 40s, reveals how significantly views on everyday life in Britain have shifted over the decades.

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UK economy far exceeds forecasts to grow 0.5% in boost to Rachel Reeves

February GDP rise was bigger than forecast – but impact from Donald Trump’s tariff war is yet to come

The UK economy unexpectedly expanded by 0.5% in February, figures show, in a boost for the chancellor, Rachel Reeves, before an expected downturn sparked by Donald Trump’s tariff war.

The increase in gross domestic product in February was five times larger than the 0.1% that a poll of City economists had forecast, while January’s figure of a modest fall of 0.1% was revised up to 0.0% growth.

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All UK families ‘to be worse off by 2030’ as poor bear the brunt, new data warns

Keir Starmer has been dealt a fresh blow to his living standards pledge in advance of the spring statement

Living standards for all UK families are set to fall by 2030, with those on the lowest incomes declining twice as fast as middle and high earners, according to new data that raises serious questions about Keir Starmer’s pledge to make working people better off.

The grim economic analysis, produced by the respected Joseph Rowntree Foundation (JRF), comes before the chancellor, Rachel Reeves, makes her spring statement on Wednesday in which she will announce new cuts to public spending rather than increase borrowing or raise taxes, so as to keep within the government’s “iron clad” fiscal rules.

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UK borrowing rises to £10.7bn in setback for Rachel Reeves

February figure comes in higher than forecasts less than a week before chancellor’s spring statement

UK government borrowing rose by more than expected in February to £10.7bn, underscoring the challenge for Rachel Reeves before next week’s spring statement.

Figures from the Office for National Statistics showed borrowing – the difference between total public sector spending and income – was little changed from the same month a year earlier. However, over the financial year to date borrowing was up nearly £15bn on the same period last year.

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Shrinking economy offers unhelpful backdrop for Rachel Reeves’s growth push

GDP goes in wrong direction as chancellor puts final touches to fiscal plans

For a government that has made growth its overriding mission, the 0.1% decline in GDP in January signalled by the Office for National Statistics will be depressing news.

As Rachel Reeves prepares to announce her spring statement on 26 March, the economy appears to be going in the wrong direction – underlining the fact that the Office for Budget Responsibility is likely to have presented her with notably weaker forecasts than in October.

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UK economy shrinks unexpectedly in blow to Rachel Reeves

ONS data showing 0.1% fall in GDP in January comes less than two weeks before chancellor’s spring statement

The UK economy contracted by 0.1% in January, dealing a blow to Rachel Reeves before the spring statement later this month.

In a surprise to City economists, who expected 0.1% growth in January, the Office for National Statistics data showed the services sector failed to offset a decline in the industrial sector and maintain growth from the previous month.

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