October 24 2014 Latest news:
Tuesday, April 15, 2014
Inflation fell for the sixth month in succession in March paving the way for an end to the prolonged squeeze on wages, official figures showed today.
The Consumer Prices Index (CPI) rate dropped to a new four-year low of 1.6%, from 1.7% in February, according to the Office for National Statistics (ONS).
It comes a day ahead of separate ONS labour market statistics which are expected to show that regular pay is rising at a rate of 1.8%, up from 1.3%.
CPI has not been lower since October 2009, when it stood at 1.5%. The latest fall in inflation was widely expected by economists.
It is likely to herald an end to a six-year period when pay growth has been lagging behind the rise in the cost of living, effectively shrinking workers’ spending power.
One of East Anglia’s largest crane hire companies, Quinto Crane & Plant Ltd, has been bought out in a multi-million pound deal, with the new owner promising to safeguard the jobs for its 125 employees and guaranteeing future investment.