Menu
13/09/2011
UK Inflation Grows To 4.5%
The UK's rate of inflation has risen to 4.5%, according to statistics published today by the Office of National Statistics.
The consumer price index, which measures the value of goods and services, revealed on Tuesday that annual inflation had risen again in August from 4.4% in July.
The driving the inflation level up was the value of clothing, fuels and lubricants, furniture, household goods and domestic heating, while transport services, particularly passenger transport by air, sea and rail, where having stabilising the rise. There was also a stabilizing effect from recreation and culture, particularly from games, toys and hobbies and, to a lesser extent, recording media and
data processing equipment.
The Bank of England's target rate for CPI inflation is less than half the current amount, and expects inflation to return to target in the next two years. The Bank said inflation was above target primarily because of the rise in VAT to 20% at the start of this year and past increases in global energy prices.
Analysts currently believe the rate of inflation could rise yet further to 5%, before falling by the end of the year or at the beginning of next year.
According to leading financial website, thisismoney.co.uk; "The Bank of England has forecast that inflation will hit 5% before the end of the year, so today’s figure is unlikely to change the policy of the rate-setting committee – despite it being more than twice the 2% target set by the Government."
(DW/CD)
The consumer price index, which measures the value of goods and services, revealed on Tuesday that annual inflation had risen again in August from 4.4% in July.
The driving the inflation level up was the value of clothing, fuels and lubricants, furniture, household goods and domestic heating, while transport services, particularly passenger transport by air, sea and rail, where having stabilising the rise. There was also a stabilizing effect from recreation and culture, particularly from games, toys and hobbies and, to a lesser extent, recording media and
data processing equipment.
The Bank of England's target rate for CPI inflation is less than half the current amount, and expects inflation to return to target in the next two years. The Bank said inflation was above target primarily because of the rise in VAT to 20% at the start of this year and past increases in global energy prices.
Analysts currently believe the rate of inflation could rise yet further to 5%, before falling by the end of the year or at the beginning of next year.
According to leading financial website, thisismoney.co.uk; "The Bank of England has forecast that inflation will hit 5% before the end of the year, so today’s figure is unlikely to change the policy of the rate-setting committee – despite it being more than twice the 2% target set by the Government."
(DW/CD)
Related UK National News Stories
Click here for the latest headlines.
18 February 2014
Inflation Falls Below BoE Target For First Time In Four Years
The UK's inflation rate has fallen below the Bank of England's target for the first time in over four years. New figures from the Office for National Statistics show that in January the inflation rate, as measured by the consumer price index, fell to 1.9%, coming in below the BoE target of 2%.
Inflation Falls Below BoE Target For First Time In Four Years
The UK's inflation rate has fallen below the Bank of England's target for the first time in over four years. New figures from the Office for National Statistics show that in January the inflation rate, as measured by the consumer price index, fell to 1.9%, coming in below the BoE target of 2%.
14 January 2014
CPI Inflation Meets Govt Target For First Time In 5 Years
The UK's inflation has fallen to the government-set target of 2% for the first time since November 2009. In December the rate, as measured by the Consumer Prices Index, stood at 2%, down from 2.1% on thew month previous. Slower increases in the prices of food caused the rate to fall, according to the Office for National Statistics.
CPI Inflation Meets Govt Target For First Time In 5 Years
The UK's inflation has fallen to the government-set target of 2% for the first time since November 2009. In December the rate, as measured by the Consumer Prices Index, stood at 2%, down from 2.1% on thew month previous. Slower increases in the prices of food caused the rate to fall, according to the Office for National Statistics.
07 February 2013
Government Abandons GSCE-Scrap Plans
The UK government has abandoned plans to scrap GCSE subjects in England and Wales and replace them with English Baccalaureate Certificates. Education Secretary Michael Gove announced the changes in the Commons. He said the plans had been "a bridge too far". The move follows criticism from MPs and teachers.
Government Abandons GSCE-Scrap Plans
The UK government has abandoned plans to scrap GCSE subjects in England and Wales and replace them with English Baccalaureate Certificates. Education Secretary Michael Gove announced the changes in the Commons. He said the plans had been "a bridge too far". The move follows criticism from MPs and teachers.
10 May 2007
Interest rates rise to 5.5%
The Bank of England has announced that interest rates will rise from 5.25% to 5.5%. The rise is the fourth since last August, bringing the cost of borrowing to its highest level since 2001. The rise has been expected by analysts in order to try and keep inflation down.
Interest rates rise to 5.5%
The Bank of England has announced that interest rates will rise from 5.25% to 5.5%. The rise is the fourth since last August, bringing the cost of borrowing to its highest level since 2001. The rise has been expected by analysts in order to try and keep inflation down.
16 January 2006
House price inflation rises slightly
House price inflation has risen by 0.8% from 1.8% in October to 2.5% in November, the latest figures produced by the Office of the Deputy Prime Minister (ODPM) have revealed. The rise in UK prices between October and November was attributed to rises in average prices for all types of houses.
House price inflation rises slightly
House price inflation has risen by 0.8% from 1.8% in October to 2.5% in November, the latest figures produced by the Office of the Deputy Prime Minister (ODPM) have revealed. The rise in UK prices between October and November was attributed to rises in average prices for all types of houses.
-
Northern Ireland WeatherThis Evening and Tonight:Showers, scattered in the evening, will clear by midnight leaving the night dry with clear spells. Perhaps a touch of ground frost. Cloud will spread east towards morning. Minimum temperature 2 °C.
