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Chart of the day: Inflation drops further

The UK’s rating on the all-items consumer prices index (CPI), which measures changes in the prices of consumer goods and services, reached 122.8 points in May 2012 (based on 2005=100), a decrease of 0.1 per cent compared to 122.9 in April, according to figures released by the Office for National Statistics (ONS) today.

The annual rate for CPI is 2.8 per cent, down from 3 per cent last month.

The largest downward pressures came from food and non-alcoholic beverages and motor fuels, while the largest downward pressures came from food and non-alcoholic beverages and motor fuels.

The all-items retail prices index (RPI), which measures the change in the cost of a basket of retail goods and services, reached 242.4 in May (based on January 1987=100), down from 242.5 previous month.

RPI annual inflation stands at 3.1 per cent in May, down from 3.5 per cent in April.

The largest downward pressures to the change in RPI annual inflation between April and May came from petrol & oil and food. Partially offsetting these was an upward pressure from other travel costs which includes air transport.

The larger fall in the annual RPI rate than the annual CPI rate is mainly due to the upward effect from air transport and sea transport, while the downward effect came from car insurance and rounding.

According to the ONS, in the 12 months to April 2012 there was relatively little growth in house prices in the UK, with the index increasing by 1.4 per cent over the period.

Annual house price increases in England were driven by a 4.9 per cent rise in London, and increases in the South East and South West of 2.1 and 1.6 per cent respectively. On a seasonally adjusted basis, house prices in the UK increased by 1.1 per cent between March and April 2012.

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We're hiring! Join the New Statesman as an editorial assistant

The NS is looking for a new recruit.

The New Statesman is hiring an editorial assistant, who will work across the website and magazine to help the office run smoothly. The ideal candidate will have excellent language skills, a passion for journalism, and the ability to work quickly and confidently under pressure.

The job is a broad one – you will need to understand the requirements of both halves of the magazine (politics and culture) as well as having an interest in the technical requirements of magazine and website production. Experience with podcasts and social media would be helpful.

The right person will have omnivorous reading habits and the ability to assimilate new topics at speed. You will be expected to help out with administration tasks around the office, so you must be willing to take direction and get involved with unglamorous tasks. There will be opportunities to write, but this will not form the main part of the job. (Our current editorial assistant is now moving on to a writing post.)

This is a full-time paid job, which would suit a recent graduate or someone who is looking for an entry into journalism. On the job training and help with career development will be offered.

Please apply with an email to Stephen Bush (Stephen. Bush @ with the subject line ‘Editorial Assistant application’.  

In your covering letter, please include a 300-word analysis of the strengths and weaknesses of the New Statesman. Please also include 500 words on what you consider to be the most interesting trend in British politics, and your CV as a Word document. 

The deadline for applications is noon on Monday 12th October.