FTSE steady as grocery inflation offsets falling unemployment - Market Report

London's blue-chip index lifted again on Tuesday after fresh data highlighted a decline in unemployment in the UK. Unemployment took an unexpected plunge over the three months to June, while economic inactivity climbed to a 13-year high, official figures showed on Tuesday. Chancellor Rachel Reeves commented that there was “more to do” in supporting people into work, with many out due to long-term sickness, adding it will be tackled in the budget later this year. Meanwhile, an uptick in wage growth has fuelled questions over whether the Bank of England should further cut rates this year. Figures from the ONS showed wages climbed by 5.4% between April and June, compared to 5.7% in the previous three months. Additionally, grocery prices climbed at a faster rate over the month to August 4 for the first time since March last year, according to Kantar data. This comes ahead of the UK’s key inflation reading this week, with analysts already predicting an acceleration in the consumer price index. #proactiveinvestors #marketreport #ftse #footsie #ftse100 #ons #rachelreeves #kantar #cpi #inflation #invest #investing #investment #investor #stockmarket #stocks #stock #stockmarketnews