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
- Latest: London house prices down again
- CPI falls as energy cap kicks in
- Utility bills fell last month, but clothing costs rose
- Thanks, Ed Miliband!
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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