...The UK consumer price index, which charts inflation over the last 12 months, remained near zero throughout 2015 ¡ the lowest annual CPI since the 1960s. This was largely a result of lower fuel and food prices. Nevertheless, core inflation ¡ headline CPI, excluding energy and unprocessed food ¡ was around 1% over the same period. The gap between the two is expected to narrow towards the end of 2016, as the impact of the oil price decline diminishes. The annualised rise in 3MA earnings including bonuses averaged 2.5% during January-November 2015, marking a significant increase in purchasing power for an average British consumer in a period of stagnant prices. Unemployment continued to improve over the three months to November 2015, dropping to 5.1% (from 5.4% three months earlier), according to the Office for National Statistics (ONS). This coincided with the highest employment since the 1980s (74% as of November 2015) and also produced the lowest number of unemployed people per vacancy since...
