Wed. Oct 21st, 2020

UK inflation hits three-year low; London house prices fall again – business live

Consumer prices index inflation falls to 1.5%, in a boost to households, thanks to lower energy bills

Earlier:

11.49am GMT

Here’s Jamie Durham, economist at PwC, on today’s house price data:

“Today’s house price data from the ONS show that UK house prices increased by 1.3% in the year to September 2019, unchanged from August. The average UK house price in September was £234,000.

“However, the divide between London and the rest of the country continues. Prices in the capital continued to weigh on national house price growth and fell by 0.4% year-on-year.

London was the region with the lowest annual growth, decreasing by 0.4%, followed by the East of England which decreased by 0.2% over the year https://t.co/nKLIpncwbF pic.twitter.com/LDoCBz9Byn

11.39am GMT

Back in 2016, technology entrepreneur Elon Musk spoke warmly about the depth of automotive engineering talent in the UK.

Just look at Formula 1 – it amazes me how much British talent there is in that.

“We are likely to establish a Tesla engineering group in Britain at some point in the future.”

Related: Tesla cites Brexit as Germany chosen over UK for European plant

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