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12/08/2003
UK inflation shows surprise increase
City analysts have voiced their surprise after today's rise in the month-on-month UK inflation rate - up by 0.1% to 2.9% in July.
According to the latest figures from the Office of National Statistics (ONS), the inflationary pressure was mainly attributed to rises in clothing and footwear retail prices. Rises were also recorded in travel, a sector that is currently experiencing the usual seasonal trend for peak rate fares.
The rise in the inflation rate for the ninth consecutive month, surprised many economic forecasters who had been predicting a slight fall in the rate of inflation.
However, according to the ONS the rate of inflation in the UK remains one of the lowest in Europe since the start of 2000.
As the government target for inflation is 2.5%, the unexpected rise in inflation to 2.9% has fuelled speculation that the next rate change may see an increase in the interest rate.
The Bank of England’s Monetary Policy Committee, which sets the lending rate, will be meeting shortly to discuss the September rate. However, it will not be an easy decision. Analysts will be looking at a variety of factors, but the MPC will be noting that the target rate is now three points off a marked departure from the one point variance permitted.
(SP)
According to the latest figures from the Office of National Statistics (ONS), the inflationary pressure was mainly attributed to rises in clothing and footwear retail prices. Rises were also recorded in travel, a sector that is currently experiencing the usual seasonal trend for peak rate fares.
The rise in the inflation rate for the ninth consecutive month, surprised many economic forecasters who had been predicting a slight fall in the rate of inflation.
However, according to the ONS the rate of inflation in the UK remains one of the lowest in Europe since the start of 2000.
As the government target for inflation is 2.5%, the unexpected rise in inflation to 2.9% has fuelled speculation that the next rate change may see an increase in the interest rate.
The Bank of England’s Monetary Policy Committee, which sets the lending rate, will be meeting shortly to discuss the September rate. However, it will not be an easy decision. Analysts will be looking at a variety of factors, but the MPC will be noting that the target rate is now three points off a marked departure from the one point variance permitted.
(SP)
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14 September 2011
Ease The Squeeze - Labour
A Labour MP has urged the Coalition government to "ease the squeeze" on the nation, after a study on Tuesday revealed a further increase in the UK's inflation rate. Labour’s Shadow Chief Secretary to the Treasury, Angela Eagle, said the figures reflected the "real squeeze" being felt by people on middle and low incomes right now.
Ease The Squeeze - Labour
A Labour MP has urged the Coalition government to "ease the squeeze" on the nation, after a study on Tuesday revealed a further increase in the UK's inflation rate. Labour’s Shadow Chief Secretary to the Treasury, Angela Eagle, said the figures reflected the "real squeeze" being felt by people on middle and low incomes right now.
13 September 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.
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.
30 June 2010
UK House Prices Rise By 0.1%
House prices rose by 0.1% in June according to the latest report by Nationwide. The annual rate of house price inflation dropped for the second consecutive month from 9.8% to 8.7%, with the average UK home costing £170,111.
UK House Prices Rise By 0.1%
House prices rose by 0.1% in June according to the latest report by Nationwide. The annual rate of house price inflation dropped for the second consecutive month from 9.8% to 8.7%, with the average UK home costing £170,111.
13 June 2005
House price inflation declines
Annual house price inflation dropped to 6.9% in April, a sharp fall from 12.6% in March, according to the latest figures from the Office of the Deputy Prime Minister (ODPM). The ODPM also reported a fall in mix-adjusted prices of 0.8% between March and April, which contrasted sharply with the 4.5% rise during the same period in 2004.
House price inflation declines
Annual house price inflation dropped to 6.9% in April, a sharp fall from 12.6% in March, according to the latest figures from the Office of the Deputy Prime Minister (ODPM). The ODPM also reported a fall in mix-adjusted prices of 0.8% between March and April, which contrasted sharply with the 4.5% rise during the same period in 2004.
19 April 2005
ONS reports inflation rate rise
The rate of inflation in the UK rose to 1.9% last month, a jump from 1.6% in February, the Office of National Statistics (ONS) has reported. The ONS said that the rate had risen because of stronger price increases for transport, food, furniture and clothing.
ONS reports inflation rate rise
The rate of inflation in the UK rose to 1.9% last month, a jump from 1.6% in February, the Office of National Statistics (ONS) has reported. The ONS said that the rate had risen because of stronger price increases for transport, food, furniture and clothing.
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