Latest pay and labour market statistics February 2020:
The Consumer Prices Index including owner occupiers’ housing costs (CPIH) 12-month inflation rate was 1.8% in January 2020, increasing from 1.4% in December 2019.
The Consumer Prices Index (CPI) 12-month rate was 1.8% in January 2020, increasing from 1.3% in December 2019.
The UK unemployment rate was estimated at 3.8%, 0.2 percentage points lower than a year earlier and 0.1 percentage points lower than the previous quarter.
The UK economic inactivity rate was estimated at a record low of 20.5%, 0.4 percentage points lower than the previous year and 0.3 percentage points lower than the previous quarter.
Estimated annual growth in average weekly earnings for employees in Great Britain slowed to 2.9% from 3.2% last month for total pay (including bonuses) and to 3.2% from 3.4% for regular pay (excluding bonuses).
In real terms (after adjusting for inflation), annual growth in total pay is estimated to be 1.4% and annual growth in regular pay is estimated to be 1.8%.