Chancellor welcomes news that average earnings rose by 2.9%, but 10,000 more people are out of work than three months ago * Full story: Wage growth fastest since 2009 * UK unemployment rate at 5.5% <- coverage starts here * Rate expectations push pound up * Osborne’s response * The key points 2.02pm BST The August US inflation figure will probably not change the Federal Reserve’s decision on interest rates, said Rob Carnell of ING Bank. He expects no change from the central bank although admits a small hike could be on the cards: US August CPI was the last significant piece of data standing between the Federal Open Market Committee and its rate decision on Thursday, and it came in almost bang on expectations, with the only marginal deviation from expectations being the core inflation rate, which was unchanged at 1.8% year on year - though from an expected 0.1% month on month gain, so almost certainly just a rounding effect. Headline inflation was unchanged at 0.2% year on year, dragged down by a 2.0% month on month decline in energy prices – not surprisingly. 1.52pm BST Followers of the eurozone debt crisis should check out this story from Athens, on the worrying rise of Greece’s extremist GOLDEN DAWN party, ahead of Sunday’s elections: Related: Greek election 2015: Golden Dawn exploits atmosphere of austerity-driven despair Continue reading...
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