Mark Carney, governor of the Bank of England,  has said a negative inflation rate will be “temporary” and the UK won’t experience deflation. (Photograph: Simon Dawson/Bloomberg)

Britain’s inflation rate fell more than economists forecast in January, dropping to record low as food and fuel prices plunged. Consumer-price growth (...)

Chancellor George Osborne looks on as Prime Minister David Cameron (not pictured) talks to business leaders at a conference in the Old Granada TV Studios in Manchester. Photograph: Peter Byrne/PA Wire

UK inflation matched its lowest level on record in December when it fell to 0.5 per cent, official figures showed today. The plunge to below 1 per cen(...)

In annual terms, growth was revised down to 2.6 per cent from a previous reading of 3 per cent

Spending by households drove Britain’s economic recovery once again in the third quarter despite a slight fall in disposable incomes and weaker busine(...)

The Office for National Statistics (ONS) said the volume of goods bought at British stores last month jumped by 6.4 per cent from November 2013

British retail sales surged at their fastest annual rate in more than a decade last month, as US-style “Black Friday” discounts drove record sales gro(...)

The Bank of England sign on the wall of its headquarters in London. A power cut at the bank added to the drama of banking stress tests yesterday

A power cut at the Bank of England added to the drama of the banking stress tests on Tuesday, as reporters and officials were forced to quit Threadnee(...)

Britain’s prime minister David Cameron is locked in battle with Brussels over a demand for a further £1.7 billion to be paid by December 1st. Photograph: Luke MacGregor/REUTERS

The UK’s net contribution to the European Union soared to £11.3 billion in 2013, an increase of £2.7 billion from the previous year, according to offi(...)

The monthly fall in the number of people claiming unemployment benefit was the smallest since April last year, at 18,600 in September

Britain’s strong labour market recovery is showing signs of cooling, even as the unemployment rate once again fell more than expected in the three mon(...)

The BoE has said it expects inflation to hit its target of 2 per cent only in around three years’ time and some economists have said it could dip close to 1 per cent soon.

British inflation slowed sharply in September to its lowest level in five years, further reducing pressure on the Bank of England to start raising int(...)

 Britain’s prime minister David Cameron, Portugal’s prime minister Pedro Passos Coelho, Germany’s chancellor Angela Merkel and Finland’s prime minister Alexander Stubb attend an European Union leaders summit in Brussels. Photograph: Francois Lenoir/Reuters

Britain’s economy grew more quickly than previously thought in the second quarter of this year though the start of 2014 was more sluggish, according t(...)

A Phones 4U shop in central London with its shutters down as more than 500 of its stores were shut after the retail chain went into administration. Photograph: Philip Toscano/PA

As administrators race to save stores and jobs at Phones4u, recriminations over the shockingly abrupt demise of the mobile phone retailer are becoming(...)