US inflation slows as prices pressures ease – business live

Rolling coverage of the latest economic and financial news

• Latest: US inflation drops to 5.3%
• Core inflation slows to 4.0% as pandemic price pressures relax
• Core inflation up just 0.1% in August...
• ...used car prices and airline fares fall
• Dollar drops as tapering worries ease

Earlier:

• Covid-19 outbreaks hit oil demand
• FULL STORY: UK job vacancies hit record high of 1m as payrolls rebound to pre-Covid levels
• BREAKING: UK jobs data shows recovery
• Vacancies hit record as hospitality and transport firms struggle to hire
• Average total pay up 8.3%...but pensioners won't benefit

Every sector of the UK economy has posted more job vacancies over the last quarter, with transport companies, and bars, restaurants and hotels, among the areas struggling the most.

The record total of vacancies (over 1 million) meant there were 3.4 vacancies for every 100 employee jobs, also a record high.

The fastest rate of growth was seen in other service activities, which grew by 93.3% (12,500), followed by transport and storage at 76.3% (20,300) and accommodation and food service activities at 75.4% (57,600).

In the latter two categories labour demand has increased rapidly while staff availability fell because of a mix of employees leaving these sectors to find employment elsewhere and a reluctance of workers to return to their previous roles.