News Headlines Wednesday 17th October

Business/Economic

Inflation dropped in September. The CPI fell from 2.5% in August to 2.2% in September. Lower annual increases in utlity, fuel and electricity responsible. The RPI which also includes mortgage costs fell from 2.9 to 2.6%. However this is the 30th month that inflation is above the Bank of England’s target of 2%. Going up: beer, jewellery, tobacco, fruit and bread, going down: clothes, books, cameras, milk. However CityAM pundits polled think inflation is about to go back up, and Saga complain that as state pensions are linked to CPI, this low inflation rate spells bad news for pensioners who will get a rise of just £2.69 a week

Personal Finance

The Mail launches campaign to allow 6.3m children whose £4.3bn money is locked in Child Trust Funds to move to Junior ISAs, claiming otherwise they face losing £34,000 interest before they are 18 due to loss of tax breaks and paltry interest rates.

Property

Greedy letting agents are hiking fees to reap extra profit from 8.5m renters who are frozen out of the property market. Think Tank Resolution and Shelter say that admin and deposit fees of up to £2,200 before even a month’s rent is paid are completely unjustified. ARLA seems to take a more lenient approach to justifying the fees.  

Recruitment and HR

There are simply not enough jobs available says Joseph Rowntree Foundation, who carried out a survey of 2000 job applications from fictional candidates to 650 positions advertised. They claim that up to 66 people are chasing every retail role and that vacancies often close within hours, with a strong preference for very local candidates.

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