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17/07/2001
UK INFLATION REMAINS AT TWO YEAR HIGH
UK inflation has remained at a two-year high, official figures have revealed.
The Office for National Statistics (ONS) revealed prices were 2.4 per cent higher in June than the same month a year before.
The headline rate of inflation, a broader measure of prices that includes more unstable prices such as mortgages, actually declined in June, when compared to the month before.
The fall to an annual rate of 1.9 per cent last month from 2.1 per cent in May reflected lower mortgage rates following recent cuts in the UK interest rate, and a deceleration in the housing market, the ONS added.
Food prices meanwhile have continued to surge. The data showed that food prices were 5.6 per cent higher last month than in June 2000. Prices of books, newspapers, photographic equipment and toys also had an upward effect, with tobacco 4.2 per cent more expensive.
These latest figures are now likely to diminish any prospect of an imminent cut in interest rates, which would feed through to lower mortgage rates, and lower returns for investors with deposit or building society accounts. (MB)
The Office for National Statistics (ONS) revealed prices were 2.4 per cent higher in June than the same month a year before.
The headline rate of inflation, a broader measure of prices that includes more unstable prices such as mortgages, actually declined in June, when compared to the month before.
The fall to an annual rate of 1.9 per cent last month from 2.1 per cent in May reflected lower mortgage rates following recent cuts in the UK interest rate, and a deceleration in the housing market, the ONS added.
Food prices meanwhile have continued to surge. The data showed that food prices were 5.6 per cent higher last month than in June 2000. Prices of books, newspapers, photographic equipment and toys also had an upward effect, with tobacco 4.2 per cent more expensive.
These latest figures are now likely to diminish any prospect of an imminent cut in interest rates, which would feed through to lower mortgage rates, and lower returns for investors with deposit or building society accounts. (MB)
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14 August 2001
Inflation rate fall may herald a further interest rate cut
Speculation is growing that a fall in the underlying inflation rate, down to 2.2 per cent, may give the Bank of England’s Monetary Policy Committee further room for manoeuvre to lower interest rates. Continued severe pressure on manufacturing industry has prompted further calls from industry leaders seeking another cut in the UK interest rate.
Inflation rate fall may herald a further interest rate cut
Speculation is growing that a fall in the underlying inflation rate, down to 2.2 per cent, may give the Bank of England’s Monetary Policy Committee further room for manoeuvre to lower interest rates. Continued severe pressure on manufacturing industry has prompted further calls from industry leaders seeking another cut in the UK interest rate.
07 March 2002
Halifax report continuing rise in house prices
House prices in the UK have risen by almost 17 per cent according to the latest survey figures released by the Halifax. The report, published on Thursday 7 March, has shown that in February, property prices rose by more than one-sixth on the same time a year earlier – representing the fastest annual rate of growth in 12 years.
Halifax report continuing rise in house prices
House prices in the UK have risen by almost 17 per cent according to the latest survey figures released by the Halifax. The report, published on Thursday 7 March, has shown that in February, property prices rose by more than one-sixth on the same time a year earlier – representing the fastest annual rate of growth in 12 years.
02 October 2001
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
US rate cut expected to battle economic recession
The US Federal Reserve was widely expected to cut interest rates for the ninth time this year in a bid to help stave off a recession and fight the effects of the terrorist attacks on the US. With the US economy edging closer to recession many analysts were anticipating a 0.25 per cent rate cut, but a 0.5 per cent cut was not being ruled out.
10 December 2001
Further falls in price of UK manufactured goods
The Office of National Statistics have produced a report which shows that the price of goods manufactured in the UK have fallen in the last month. Between October and November the UK producer prices fell by 0.4 per cent, compared with a fall of 0.2 per cent between September and October.
Further falls in price of UK manufactured goods
The Office of National Statistics have produced a report which shows that the price of goods manufactured in the UK have fallen in the last month. Between October and November the UK producer prices fell by 0.4 per cent, compared with a fall of 0.2 per cent between September and October.
11 December 2001
UK inflation drops to all time low
Inflation in the UK fell sharply last month according to the most recent figures released by the Office for National Statistics. The rate of inflation fell by 0.4 per cent in November taking the annual inflation rate down from 2.3 per cent in October to 1.8 per cent in November.
UK inflation drops to all time low
Inflation in the UK fell sharply last month according to the most recent figures released by the Office for National Statistics. The rate of inflation fell by 0.4 per cent in November taking the annual inflation rate down from 2.3 per cent in October to 1.8 per cent in November.
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Northern Ireland WeatherToday:It will be cloudy again throughout the day. Mainly dry in the morning, but patchy drizzle in places, becoming more widespread and persistent in the afternoon. Freshening southwesterly winds. Maximum temperature 12 °C.Tonight:Cloudy with a spell of heavy rain pushing south through late evening and the early hours, followed by some clear spells. Minimum temperature 6 °C.
