Rolling coverage of the latest economic and financial news, including July’s UK inflation reportBank of England under pressure to raise rates after record jump in basic payOn a monthly basis, consumer prices fell by 0.4% in July alone.Newsflash: The UK’s inflation rate has fallen to its lowest level since spring 2022. Continue reading...

Annual energy bills for a typical household are expected to fall slightly to £1,926 from October, according to a new forecast.Read more: Energy bills predicted to drop in October

The government is encouraging councils to get pubs open earlier on Sunday ahead of the Women's World Cup final.Read more: Government encourages pubs to open early so country can get behind Lionesses in World Cup Final

Retail sales volumes fell by 1.2% in July after the wet weather hit summer clothing sales and the cost of living weighed on food shoppers.Read more: Retail sales drop in July as rain dampens demand

There are "genuine grounds for hope" that at least parts of Wilko will be taken over, according to the GMB union.Read more: Wilko staff have grounds for hope, says GMB union as bidders circle

Rising interest rates have begun to bite UK companies, with a majority of businesses reporting the weakest output levels in eight months, according to a survey.Read more: Manufacturing output weakest in eight months as interest rates take their toll

Drivers will walk out on 1 September and refuse to work overtime on 2 September, the union says.

The banking sector is being warned it faces penalties if it does not secure free access to cash for the UK population, including businesses, following waves of branch closures over more than a decade.Read more: FCA warns banks on branch closures as access to cash to be ‘protected in law’

The proportion of top A-level grades is down on last year but still remains above pre-pandemic levels.Read more: A-level results: Number of top grades down on last year but still above pre-pandemic levels

As the first major global AI safety summit approaches, Prime Minister Rishi Sunak is yet to provide crucial details such as an exact date and invitee lists, as officials from four counties around the world urge the UK to speed up the planning process, according to spokespeople from Politico.Read more: UK Government must step up global AI safety summit plans

UK FinTech Growth Partners LLP has unveiled the FinTech Growth Fund, backed by Barclays, NatWest, Mastercard, London Stock Exchange Group and Peel Hunt.Read more: £1 billion growth fund to help scale UK FinTechs prior to IPO launched

Nearly 30% of people find it difficult to afford essentials – like groceries, broadband and insurance – despite most people shopping around for better prices, a think-tank reveals today.Read more: Nearly 3 in 10 find essentials difficult to afford, despite most shopping around

Up to 15,000 shops could disappear from the UK’s high streets by the end of 2025, a new report has warned, as more and more consumers choose to online over in-store shopping.Read more: UK high streets risk becoming ‘wastelands’ with 15,000 shops set to close by 2025

HMRC has been criticised for spending just 6.5% of its £6.8bn annual budget on preventing specific areas of tax evasion, avoidance and non-compliance in 2022/23. Read more: HMRC spends just 6% of annual budget on fighting tax avoidance

Budget supermarket chain Aldi has unveiled plans to expand its workforce creating over 1,700 new job opportunities in its regional distribution centres across the country.Read more: Aldi Announces Significant Job Openings in the UK

Retirees in the UK can expect an 8% increase in their pensions next year, as Chancellor Rishi Sunak reaffirms his commitment to the 'triple lock' policy.Read more: Retirees to Receive an 8% Boost to Pensions as Rishi Sunak Commits to ‘Triple Lock’

Jaguar Land Rover (JLR) has recently announced its plans to create hundreds of new job opportunities in the West Midlands region.Read more: Jaguar Land Rover Creates 300 New Jobs in West Midlands

The roles will be used to support the increased production of Range Rovers and new electric vehicles.

Next year’s rise in English rail fares will be below 9% as the Government announced on Tuesday that any increase will be below the rise in the Retail Prices Index (RPI) measure of inflation for the 12 months to July.Read more: Train fares set for huge rise in 2024 – but it’ll be less than a 9 per cent hike

Raffolux, the UK’s leading digital raffle platform has announced a special celebration in honour of the Lionesses' success in the FIFA Women's World Cup as the current favourites to win the competition.Read more: Charitable Company Gifts Employees A Day Off Work In Celebration Of The Lionesses

Business confidence is high among SME leaders in the UK, with three in five forecasting increases in revenue over the next 12 months.Read more: SME leaders bullish about prospects as majority expect revenues to increase in next 12 months

Scottish fintech Know-it have announced the expansion of their cloud-based credit management platform in Australia for 2024.Read more: Scottish fintech, Know-it sets its sights on Australia expansion

UK inflation has fallen to its weakest level since before Russia’s invasion of Ukraine, pushed down by energy bills falling after the lower price cap took effect in July.Read more: UK inflation rate falls for first time since Russia’s invasion of Ukraine to 6.8% in July

The UK government has announced a new multimillion pound investment in Artificial intelligence (AI) to transform the way industries cut their carbon emissions.Read more: UK government announces £4m AI funding to cut carbon emissions

Hotels just like any other business are facing a host of challenges that demand creative solutions in the modern way.Read more: Hotel Challenges in the modern world and how to overcome them