Rolling coverage of the latest economic and financial news
- Latest: Petrol prices on brink of record, says PRA
- Pensions set to rise 3.1% next year after inflation data
- Facebook fined £50m by CMA
- Introduction: UK inflation dipped to 3.1% in September, but still over target
- Transport costs rise as petrol and second-hand car prices soar
Financial journalist Paul Lewis points out that other welfare payments will also rise in line with September’s inflation reading:
UK state pensions are set to rise by 3.1% next April, in line with September’s rise in inflation.