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17/08/2010
Inflation Remains Above Target
The rate of inflation in the UK fell slightly in July, but remains above the government target of 2%, the latest figures have revealed.
The Consumer Prices Index, which excludes housing costs, dropped to 3.1% last month, from 3.2% in June.
The fall has been attributed to a drop in transport costs, including second-hand car and fuel prices, and falls in the price of clothes and footwear.
However, this was offset by rises in the cost of food and non-alcoholic drinks.
As the figure remains over 2%, Bank of England Governor Mervyn King had to write to Chancellor George Osborne to explain why inflation remains so high. According to reports, the letter said that the Bank's Monetary Policy Committee had been "surprised" by the recent strength of inflation, but said that it was largely due to "temporary" factors, such as the return of the 17.5% VAT rise in January, past rises in oil prices and higher import prices. However, Mr King said that inflation was likely to drop back to below 2% in 2012.
Meanwhile the Retail Prices Index, which includes housing costs, fell to 4.8% last month, compared to 5% in June. These figures are used to calculate regulated rail fares for the next year - using the formula of July's RPI plus 1% - which means passengers will face rises of nearly 6% next year.
(KMcA)
The Consumer Prices Index, which excludes housing costs, dropped to 3.1% last month, from 3.2% in June.
The fall has been attributed to a drop in transport costs, including second-hand car and fuel prices, and falls in the price of clothes and footwear.
However, this was offset by rises in the cost of food and non-alcoholic drinks.
As the figure remains over 2%, Bank of England Governor Mervyn King had to write to Chancellor George Osborne to explain why inflation remains so high. According to reports, the letter said that the Bank's Monetary Policy Committee had been "surprised" by the recent strength of inflation, but said that it was largely due to "temporary" factors, such as the return of the 17.5% VAT rise in January, past rises in oil prices and higher import prices. However, Mr King said that inflation was likely to drop back to below 2% in 2012.
Meanwhile the Retail Prices Index, which includes housing costs, fell to 4.8% last month, compared to 5% in June. These figures are used to calculate regulated rail fares for the next year - using the formula of July's RPI plus 1% - which means passengers will face rises of nearly 6% next year.
(KMcA)
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12 April 2005
UK house prices fall, report shows
UK house prices fell by 0.5% between January and February, figures from the Office of the Deputy Prime Minister (ODPM) have shown. The drop in prices, which saw the average house price in the UK in February fall to £179,491 from £180,465 in January, is smaller than the 1% fall reported in the same period last year.
UK house prices fall, report shows
UK house prices fell by 0.5% between January and February, figures from the Office of the Deputy Prime Minister (ODPM) have shown. The drop in prices, which saw the average house price in the UK in February fall to £179,491 from £180,465 in January, is smaller than the 1% fall reported in the same period last year.
17 December 2013
ONS Report Four-Year-Low For CPI Inflation Rate
The Office for National Statistics (ONS) reported that in November the UK's inflation rate, as measured by the consumer prices index, has fallen to a four year low of 2.1%. The fall, down from 2.2% in October, has been credited to slower increases in food and energy prices, the ONS has said.
ONS Report Four-Year-Low For CPI Inflation Rate
The Office for National Statistics (ONS) reported that in November the UK's inflation rate, as measured by the consumer prices index, has fallen to a four year low of 2.1%. The fall, down from 2.2% in October, has been credited to slower increases in food and energy prices, the ONS has said.
12 December 2005
House price inflation drops
Annual house price inflation dropped again in October, according to the latest figures from the Office of the Deputy Prime Minister. House price inflation was 2.2% in October, a fall from September’s figure of 3.3%. The ODPM reported that the average house price in the UK was £186,103 in October, compared with £186,755 in September.
House price inflation drops
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13 August 2007
House Prices Rise By 12% In June
UK annual house price inflation in June 2007 was 12.1%, up from 10.8% in May 2007. Annual house price inflation in London was 17.5% in June, up from 14.3% in May. The UK annual house price inflation rate for the 3 months to June was 11.3% and 15.1% in London. The UK house price inflation rate rose from 10.8% in May 2007 to 12.1% in June 2007.
House Prices Rise By 12% In June
UK annual house price inflation in June 2007 was 12.1%, up from 10.8% in May 2007. Annual house price inflation in London was 17.5% in June, up from 14.3% in May. The UK annual house price inflation rate for the 3 months to June was 11.3% and 15.1% in London. The UK house price inflation rate rose from 10.8% in May 2007 to 12.1% in June 2007.
14 February 2005
Drop in house prices reported over Christmas period
The latest government figures have shown that overall UK house prices fell in December last year by 0.7%, compared to a 2% rise in the same period last year. Figures published by the Office of the Deputy Prime Minister, showed that UK annual house price inflation in December 2004 was 10.7%, a drop from 13.7% in November.
Drop in house prices reported over Christmas period
The latest government figures have shown that overall UK house prices fell in December last year by 0.7%, compared to a 2% rise in the same period last year. Figures published by the Office of the Deputy Prime Minister, showed that UK annual house price inflation in December 2004 was 10.7%, a drop from 13.7% in November.
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