Menu
18/11/2003
Surprise fall in UK inflation rate
Slower growth in house prices and cheaper foreign holidays helped to reduce inflation by 0.2% to from 2.6% for October, the Office for National Statistics (ONS) has announced today.
The RPIX inflation rate - which excludes mortgage interest payments and is the government's target measure - was also down, falling to 2.7% in October from 2.8% the previous month. The rate is slightly above the government's target set for the Bank of England at 2.5%.
Less rapid growth in house prices this year compared with a year ago was the main reason for the fall in inflation – which in turn led to much lower growth this year, said the ONS.
Overall, annual inflation in the housing element of the RPI was 6.7%, down from a recent peak of 8.6% earlier this year. The falling cost of foreign holidays also helped to push inflation down, with prices falling for most European destinations this year in contrast to price rises a year ago. Further downward effects came from household services.
University tuition fees and estate agent fees both rose less rapidly than a year ago, and there were reductions in some telephone call charges compared with price increases this time last year.
Inflation for seasonal food items also declined, in particular as prices for fresh vegetables fell back from high September levels, but this was largely offset by higher inflation for a number of non-seasonal food items including poultry, the ONS found.
(gmcg)
The RPIX inflation rate - which excludes mortgage interest payments and is the government's target measure - was also down, falling to 2.7% in October from 2.8% the previous month. The rate is slightly above the government's target set for the Bank of England at 2.5%.
Less rapid growth in house prices this year compared with a year ago was the main reason for the fall in inflation – which in turn led to much lower growth this year, said the ONS.
Overall, annual inflation in the housing element of the RPI was 6.7%, down from a recent peak of 8.6% earlier this year. The falling cost of foreign holidays also helped to push inflation down, with prices falling for most European destinations this year in contrast to price rises a year ago. Further downward effects came from household services.
University tuition fees and estate agent fees both rose less rapidly than a year ago, and there were reductions in some telephone call charges compared with price increases this time last year.
Inflation for seasonal food items also declined, in particular as prices for fresh vegetables fell back from high September levels, but this was largely offset by higher inflation for a number of non-seasonal food items including poultry, the ONS found.
(gmcg)
Related Northern Ireland Business News Stories
Click here for the latest headlines.
20 October 2008
UK 'Already In Recession', Forecasters Say
Britain's economy is already in recession, and is due to shrink by 1% in the next year, according to expert analysts. The Ernst & Young ITEM Club said the UK economy has "deteriorated dramatically" in the past three months and will fall by 1% in the next 12 months, before it will recover in 2010 by only 1%.
UK 'Already In Recession', Forecasters Say
Britain's economy is already in recession, and is due to shrink by 1% in the next year, according to expert analysts. The Ernst & Young ITEM Club said the UK economy has "deteriorated dramatically" in the past three months and will fall by 1% in the next 12 months, before it will recover in 2010 by only 1%.
16 November 2004
Rise in petrol prices drives up inflation rate
Recent rises in energy costs, particularly in petrol prices, have seen the inflation rate top 1.2% for October, according to the Office of National Statistics (ONS). Increasing crude oil costs saw prices at the pumps gain an average of around 2p per litre, pushing the CPI inflation rate – the government's target measure – up by 0.
Rise in petrol prices drives up inflation rate
Recent rises in energy costs, particularly in petrol prices, have seen the inflation rate top 1.2% for October, according to the Office of National Statistics (ONS). Increasing crude oil costs saw prices at the pumps gain an average of around 2p per litre, pushing the CPI inflation rate – the government's target measure – up by 0.
21 November 2005
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
Small rise in UK house prices
According to the latest figures from the Office of the Deputy Prime Minister, house prices in September rose for the first time in six months. UK annual house price inflation in September 2005 was 3.3% up from 2.8% in August 2005. Annual house price inflation in London was 1.9% in September 2005, up from 0.8% cent in August 2005.
12 January 2004
House price inflation falls in November
House price inflation dropped by 1.1% in the October to November period compared to an increase of 1% in the same period last year, according to the government's latest House Price Index (HPI) figures. The HPI figures published by the Office of the Deputy Prime Minister (ODPM) today revealed that UK house price inflation fell from 12.
House price inflation falls in November
House price inflation dropped by 1.1% in the October to November period compared to an increase of 1% in the same period last year, according to the government's latest House Price Index (HPI) figures. The HPI figures published by the Office of the Deputy Prime Minister (ODPM) today revealed that UK house price inflation fell from 12.
05 February 2004
Interest rates rise to 4%
Interest rates have been upped today a quarter percentage point to 4%, the Bank of England has announced. The bank's Monetary Policy Committee (MPC), said that it based the decision in the light of the latest quarterly projections for output and inflation, to be published in the February Inflation Report.
Interest rates rise to 4%
Interest rates have been upped today a quarter percentage point to 4%, the Bank of England has announced. The bank's Monetary Policy Committee (MPC), said that it based the decision in the light of the latest quarterly projections for output and inflation, to be published in the February Inflation Report.
-
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.
