Inflation

Inflation falls from 1 per cent to 0.5 per cent, making a rise in interest rates even more unlikely.

London travellers react – negatively – to the new-year hike in rail prices. Fares have risen by up to 2.5 per cent.

Rail passengers will have to pay an extra 3.5 per cent for their season tickets in January on top of the big increases they have seen since the last election.

News that UK house prices are soaring echoes economist Thomas Piketty’s warning that in the west we can now earn more by owning things than by working. Will the social fabric disintegrate as a result?

The UK economy grew by 0.8 per cent in the first three months of 2014, with output now on the verge of reaching levels last seen before the financial crisis began six years ago.

After years in the doldrums, Britain appears to be in the midst of sustainable growth. But it’s not good news all round.

The government says Britain’s recovery is on track as official figures show average pay rises outstripping inflation for the first time in four years and unemployment continuing to fall.

Inflation has fallen to its lowest level in more than four years – good for households who have seen their pay eroded by rising prices, but the better news is the squeeze on earnings may be over.

Unemployment falls by 125,000 to reach 2.34 million, with the number of people claiming out-of-work benefits also declining as the economy recovers from recession.

After years of lacklustre growth, the recovery appears to be taking off at last. Good news for Chancellor George Osborne, but even he is not celebrating yet.

The Conservatives are taking on Labour in the “cost of living crisis” debate, saying that statistics show take-home pay has risen over the last year. But Labour disputes the figures.

Jackie Long talks to locals in Biddulph about their economic troubles, and whether the leaders at the Davos world economic forum can really help out.

Unemployment falls by 167,000 to reach a five-year low of 2.32 million. The jobless rate is now 7.1 per cent, just above the level that could trigger an interest rate rise.

Consumer prices inflation drops to 2 per cent for the first time in over four years, in line with the government’s target. But Labour says the “cost-of-living crisis” has not gone away.

The Bank of England raises its growth forecast for the economy, but says interest rates will not automatically rise if unemployment falls faster than previously predicted.