Office for National Statistics

UK GDP contracted 0.3% in the last quarter of 2012, according the second reading of the data.

More Britons are working beyond the state pension age as they delay retirement, according to data from the Office for National Statistics (ONS).

UK CPI inflation remained at 2.7% in October, broadly in line with economists' expectations, as RPI inflation fell from 3.2% to 3%.

The Office for National Statistics (ONS) is to launch an additional measure of consumer prices inflation which includes housing costs.

The UK's main inflation rate has fallen to 2.2% in September from 2.5% in August, dropping to its lowest level for three years.

The UK economy is in "a very deep crisis" and it is difficult to predict when it will recover, according to Business secretary Vince Cable.

Some British pensioners, as well as investors in index-linked gilts, face lower returns if proposals to align the retail prices index (RPI) measure of inflation with the consumer prices index (CPI) are approved.

The UK's main inflation rate fell back towards the 2% target in August after reversing a surprise jump the previous month.

The Office for National Statistics has revised up its estimate of second quarter growth from a 0.7% contraction to a fall of 0.5%.

Official GDP figures for the second quarter will be revised later today after better-than expected construction and industrial production figures.