United Kingdom inflation stays below target on games, cheaper food

United Kingdom inflation stays below target on games, cheaper food

British unemployment rate, the ONS confirmed on Tuesday, reached 3.9 percent during the three months ending February.

The separate retail prices index measure of inflation, used to calculate the increase for many company pensions, rose 2.4 per cent.

The UK economy managed to beat analysts' growth expectations for the rolling quarter to the end of February (the preceding three-month period) coming in at 0.3% rather than the more anaemic predicted level of 0.2%.

The unemployment rate remained at 3.9 percent, the lowest level since 1975.

This is less than 11.95 per cent reported in February 2019, while the corresponding rural inflation rate in March 2019 is 11.08 per cent compared to 11.23 per cent recorded in February 2019.

The corresponding twelve-month year-on-year average percentage change for the urban index is 11.78 per cent in March 2019.

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"With more people in work than ever before, it is welcome news that wages are continuing to rise at their fastest rate in a decade".

Taken as a stand-alone figure, the United Kingdom economy managed growth of 0.2% in February, better than the flat, 0% growth figure predicted.

"However, a word of warning: credit card defaults in the United Kingdom have risen significantly in the first quarter and sit at the highest level since 2015, which could threaten the brighter-than-expected retail picture".

Including bonuses, average weekly earnings for employees were estimated to have increased by 3.5%, before adjusting for inflation, and by 1.6%, after adjusting for inflation, compared with a year earlier.

On a year on year basis, food inflation was highest in Kebbi (16.35%), Niger (16.22%) and Kwara (15.95%), while Bauchi (11.82%), Delta (11.70%) and Ogun (11.55%) recorded the slowest rise.

Inflation was unchanged last month, official figures have revealed, after lower food prices offset higher fuel costs at the pumps.

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