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20/04/2006
UK inflation rate slows
UK inflation rose by 1.8% in March, according to the latest figures, representing a drop of 0.2% on February's figures.
The Consumer Price Index, the government's target measure, fell to 1.8% from February's figures of 2%, which had also been predicted for March.
The Office of National Statistics said that the largest downward effect on the CPI came from food and non-alcoholic beverages. Milk prices dropped by around 2p per pint last month, while good supplies of vegetables such as cauliflowers, cucumbers and lettuces also led to price falls, compared to increases last year.
Transport also had a large downward effect on the CPI, largely due to petrol pump prices and air fares, the ONS said. Average petrol prices showed little change in March, compared with increases of over 1.5p per litre a year ago.
The price of recorded air fares also fell for the third month running, compared with increases a year ago, particularly on domestic and European routes
Another further downward effect came from recreation and culture. Following increases in February, prices for computer games dropped in march, along with prices for digital camcorders, which were reduced due to special offers in a number of outlets.
The largest upward contribution came from housing and household services, due to the increase in gas and electricity bills, along with alcohol and tobacco, as prices for some wines increased in March, compared to reductions a year ago.
RPI inflation, which includes mortgage interest payments, remained unchanged last month at 2.4%.
The figures are likely to increase calls for the Bank of England to reduce interest rates. They have remained on hold at 4.5% for eight months.
(KMcA)
The Consumer Price Index, the government's target measure, fell to 1.8% from February's figures of 2%, which had also been predicted for March.
The Office of National Statistics said that the largest downward effect on the CPI came from food and non-alcoholic beverages. Milk prices dropped by around 2p per pint last month, while good supplies of vegetables such as cauliflowers, cucumbers and lettuces also led to price falls, compared to increases last year.
Transport also had a large downward effect on the CPI, largely due to petrol pump prices and air fares, the ONS said. Average petrol prices showed little change in March, compared with increases of over 1.5p per litre a year ago.
The price of recorded air fares also fell for the third month running, compared with increases a year ago, particularly on domestic and European routes
Another further downward effect came from recreation and culture. Following increases in February, prices for computer games dropped in march, along with prices for digital camcorders, which were reduced due to special offers in a number of outlets.
The largest upward contribution came from housing and household services, due to the increase in gas and electricity bills, along with alcohol and tobacco, as prices for some wines increased in March, compared to reductions a year ago.
RPI inflation, which includes mortgage interest payments, remained unchanged last month at 2.4%.
The figures are likely to increase calls for the Bank of England to reduce interest rates. They have remained on hold at 4.5% for eight months.
(KMcA)
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Halifax report house price rises dip in July
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UK inflation increases in February
UK inflation rose by 2% in February, the Office for National Statistics has announced. Consumer price inflation - the government's target measure - increased from 1.9% in January, the ONS reported. The biggest upward effect was caused by the rising cost of recreational and cultural items.
UK inflation increases in February
UK inflation rose by 2% in February, the Office for National Statistics has announced. Consumer price inflation - the government's target measure - increased from 1.9% in January, the ONS reported. The biggest upward effect was caused by the rising cost of recreational and cultural items.
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