Credit wobbles, inflation falls, and unemployment figures - here's your need-to-know business news roundup.
The UK’s credit rating is at risk following a round of downgrades by rating agency Moody’s.
While the UK maintained its AAA rating, Moody’s indicated that it stands a 30 per cent chance of losing it in the coming 18 months. Meanwhile Italy, Portugal, Spain and others were downgraded. [Telegraph]
Official consumer inflation fell to 3.6 per cent in January from 4.2 per cent in the previous month.
But the fall is due to the VAT increase having been deemed to be ‘absorbed’. Commodity prices continued to rise. [BBC]
The true unemployment rate is almost 4 million higher than official figures suggest according to the TUC.
The union body says the total number out of work or underemployed is around 6.3 million – significantly higher than the official figure of 2.68 million. [Guardian]