Economists at Goldman Sachs have cut their UK inflation forecasts and say volatile oil prices won't stop the deflationary process that is underway in the UK.
The WTI oil price has now registered a 13.50% decline in a matter of just seven days in a move deemed to be "too fast, too furious" by energy analysts at Barclays.
Crude oil's u-turn could put it on track for a downside test of $75 a barrel according to a new analysis made in the wake of recent price action.
A Bank of America survey of UK consumers shows an uptick in confidence this September, amidst a steadying unemployment rate and expectations for improved personal finances.
The ONS upgraded its previous estimates for the growth in the UK economy following the introduction of more accurate measurements and revealed households saw an uptick in real disposable income.
A monthly survey of UK businesses reveals that firms continue to expect to raise prices and offer wage increases, evidence that domestic inflationary pressures will likely remain elevated.
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